Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 1

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 1
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| Proposal 2 |     | Advisory vote to approve named executive officer compensation                                                             |     |                           |     | FOR                       |     |                                  |     | 28 |
| Proposal 3 |     | Ratification of the selection of PricewaterhouseCoopers LLP to serve as our independent registered public accounting firm |     |                           |     | FOR                       |     |                                  |     | 65 |

Paychex, Inc. 2025 Proxy Statement •1

| Proxy Summary |

Fiscal 2025 Business Highlights*

| Total service revenue   $5.4B   5% increase |     | Operating income   $2.2B   2% increase                          |     | Diluted earnings per share   $4.58   2% decrease             |
| 5-year TSR(1)     151%                      |     | Operating income, net of certain items(2)   $2.2B   7% increase |     | Adjusted diluted earnings per share(2)   $4.98   6% increase |

| (1) | Total Shareholder Return (“TSR”) assumes a $100 investment in Paychex common stock from May 31, 2020 to May 31, 2025, with dividends reinvested. |

| (2) | Operating income, net of certain items and adjusted diluted earnings per share are not United States generally accepted accounting principles (“GAAP”) measures. Refer to “Paychex, Inc. Non-GAAP Financial Measures” in Appendix A of this proxy statement for a discussion of these non-GAAP measures and a reconciliation to the most comparable GAAP measures of operating income and diluted earnings per share. |

In fiscal 2025, we completed our largest acquisition to date with the addition of Paycor HCM, Inc. (“Paycor”), a leading provider of HCM, payroll, and talent software, which enables us to better serve larger businesses with more complex needs and expands our addressable market to over $100 billion. Paychex continued focusing on returning value to our stockholders during fiscal 2025. In May 2025, the Company increased its quarterly dividend by 10%, or $0.10 per share to $1.08 per share. The Company continued to repurchase its common stock to offset dilution and in fiscal 2025 repurchased 0.8 million shares for $104.5 million. Distributed approximately $1