Company: ADP
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0000008670-25-000037
Chunk: 125

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-08-06
Form: 10-K
Item: Item 8
Chunk 125
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0 million, $24.1 million, and $23.5 million during fiscal years 2025, 2024, and 2023, respectively. The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2025, 2024, and 2023, respectively:Years ended June 30,202520242023Operating expenses$36.0 $30.0 $24.6 Selling, general and administrative expenses193.7 179.5 165.0 Research and development36.4 34.0 30.8 Total pretax stock-based compensation expense$266.1 $243.5 $220.4 Income tax benefit$66.0 $60.2 $54.5 As of June 30, 2025, the total remaining unrecognized compensation cost related to unvested stock options, restricted stock units, and restricted stock awards amounted to $0.3 million, $206.8 million, and $0.8 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 0.2 years, 1.7 years, and 0.2 years, respectively.

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In fiscal 2025, the following activity occurred under the Company’s existing plans:Stock Options:Numberof Options(in thousands)WeightedAverage Price(in dollars)Options outstanding at July 1, 20242,042 $159 Options granted— $— Options exercised(1,004)$154 Options forfeited/cancelled(3)$207 Options outstanding at June 30, 20251,035 $164 Options exercisable at June 30, 2025882 $157 The aggregate intrinsic value of outstanding stock options and exercisable stock options as of June 30, 2025 was $149.3 million and $133.7 million, respectively, of which each have remaining lives of 4 years. The aggregate intrinsic value for stock options exercised in fiscal 2025, 2024, and 2023 was $134.0 million, $63.2 million, and $80.6 million, respectively.Time-Based Restricted Stock and Time-Based Restricted Stock Units:Number of Shares(in thousands)Number of Units (in thousands)Restricted shares/units outstanding at July 1, 2024124 1,053 Restricted shares/units granted— 618 Restricted shares/units vested