Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 69

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 69
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162,069 |
| 2023                           |     | $728,000 |     |         $0 |     | $4,907,932 |     |          $0 |     | $1,188,100 |     |             $0 |     |     $190,237 |     |   $7,014,269 |     |             |

| (1) | Amounts set forth in the Stock Awards column represent the aggregate grant date fair value of awards granted in fiscal years 2025, 2024 and 2023 computed in accordance with FASB ASC Topic 718, disregarding estimates of forfeitures related to service-based vesting conditions. For additional information about the assumptions used in these calculations, see Note 11 to our audited consolidated financial statements for the fiscal year ended June 30, 2025 included in our annual report on Form 10-K for the fiscal year ended June 30, 2025. The amounts shown in the Stock Awards column in respect of performance-based stock units (“PSUs”) reflect the grant date fair value of such awards based upon the probable outcome of the performance condition as of the grant date. The awards for fiscal year 2025 are comprised of PSUs and time-based restricted stock units (“RSUs”) for all NEOs. Consistent with the requirements of ASC Topic 718, the amounts relating to the PSUs for fiscal year 2025 represent the sum of (i) the grant date fair value of the third of three tranches of PSUs granted in September 2022, (ii) the grant date fair value of the second of three tranches of PSUs granted in September 2023 and (iii) the grant date fair value of the first of three tranches of PSUs granted in September 2024, and additionally, for Ms. Black and Mr. Kutam, the grant date fair value of the third of three tranches of PSUs granted in January 2023 (in light of their promotions), in each case, reflecting that the performance goal(s) for the tranches was established in fiscal year 2025. 
 The awards for fiscal year 2024 are comprised of PSUs and RSUs for all NEOs. Consistent with the requirements of ASC Topic 718, the amounts relating to the PSUs for fiscal year 2024 represent the sum of (i) the grant date fair value of the third of three tranches of PSUs granted in September 2021, (ii