Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 8

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 8
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 corporate governance and executive compensation programs. |

| What we don’t do |

| ✗ | No-hedging policy: We prohibit all of our directors and employees, including our executive officers, from engaging in any hedging or similar transactions involving ADP securities.                                                                                                                    |
| ✗ | No-pledging policy: We prohibit all of our directors and employees, including our executive officers, from holding ADP securities in a margin account or pledging ADP securities as collateral for a loan.                                                                                             |
| ✗ | No repricing of underwater stock options without stockholder approval: We may not lower the exercise price of any outstanding stock options or otherwise provide economic value to the holders of underwater stock options in exchange for the forfeiture of such awards without stockholder approval. |

| ✗ | No discount stock options: The exercise price of our stock options is not less than 100% of the fair market value of our common stock on the date of grant.                                                                                                                                          |
| ✗ | No IRC Section 280G or 409A tax gross-ups: We do not provide tax gross-ups under our change in control provisions or deferred compensation programs.                                                                                                                                                 |
| ✗ | No current dividends on unearned performance stock units: We do not pay dividends in respect of unearned PSUs; rather, dividend equivalents are accrued over the applicable performance period and are paid only if the units are earned and shares are issued at the end of the performance period. |

| Automatic Data Processing, Inc. – Proxy Statement   | | xii |

| 2025 Proxy Statement Summary |

Fiscal Year 2025 Corporate Governance Highlights We have a history of strong corporate governance. We are committed to sound corporate governance practices that provide our stockholders with meaningful rights and foster strong independent leadership in our boardroom.

| ADP Corporate Governance Framework |

| ✓ | Annual election of directors                                                                                                                                                                                                                                                                                         |
| ✓ | Majority voting standard                                                                                                                                                                                                                                                                                             |
| ✓ | One share, one vote                                                                                                                                                                                                                                                                                                  |
| ✓ | Proxy access by-law                                                                                                                                                                                                                                                                                                  |
| ✓ | Subject to certain exceptions on a case-by-case basis, a “no overboarding” policy which states that no nonexecutive director can serve on more than 4 public boards (including ADP) and, in the case of a director who is an executive officer of ADP or other company, no more than 2 public boards (including ADP) |
| ✓ | No poison pill                                                                                                                                                                                                                                                                                                       |
| ✓ | Independent, non-executive board