Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 26

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 26
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            |     |        |
| Joseph M. Velli                    |     |          |     |        |     |                      |     |           |     |            |     |        |
| Kara Wilson                        |     |          |     |        |     |                      |     |           |     |            |     |        |
| 

# of meetings held during the year |     |        6 |     |      5 |     |                    5 |     |         2 |     |          1 |     |      2 |
MemberChair

| (1) | All members of the Audit Committee, which was established in accordance with Section 3(a)(58)(A) of the Exchange Act, meet the independence, experience, and other applicable Nasdaq listing requirements and applicable SEC rules regarding independence. |

| (2) | All members of the C&L Committee meet the Nasdaq independence criteria for compensation committee members. |

| (3) | All members of the N&G Committee meet the Nasdaq independence criteria for directors overseeing director nominations. |

| (4) | Mr. Bonadio qualifies as an “Audit Committee Financial Expert,” as defined by applicable SEC rules. |

| (5) | As we previously disclosed, Mr. Golisano stepped down from the Board effective July 9, 2025. |

| (6) | The Board appointed Ms. Joseph as a member of the Executive Committee effective July 9, 2025. |

Paychex, Inc. 2025 Proxy Statement •22

| Corporate Governance |

The Board committees, which meet regularly and report back to the full Board, play significant roles in carrying out the risk management function. The Board’s six standing committees have the following risk oversight areas and general responsibilities: Audit Committee Primary Risk Oversight Areas

| • |     | Internal controls; |

| • |     | Risk related to financial statement accuracy and reporting; |

| • |     | Legal, regulatory, and compliance risks; |

| • |     | Risks related to security, technology, privacy, cybersecurity and data protection; and |

| • |     | Other operational and fraud risks. |

Primary Responsibilities

| • |     | Serve as an independent and objective party to monitor the Company’s financial reporting process, internal control system, and financial risk management processes; |

| • |     | Review the performance and independence of the Company’s independent accountants and internal audit department; |

| • |     | Provide an open avenue of communication