Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 68

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 68
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 common stock of $157.91 per share as of May 30, 2025. The performance-based stock awards granted during fiscal 2024 and 2023 are also included in this line, since their performance conditions have been satisfied. |

| (6) | The value of the performance-based stock awards is based upon the closing price of the Company’s common stock of $157.91 as of May 30, 2025, assuming achievement at target. |

| (7) | The value of the cost to continue basic life insurance, medical, dental, vision, and hospitalization benefits for the applicable Continuation Period, which is equal to the number of years as outlined in the Change in Control Plan: 2.0 for Mr. Gibson; and 1.5 for Messrs Schrader, Bottini, and Gioja. |

| (8) | No death or disability payments were provided for under the terms of Mr. Ante’s time-based stock awards or bonus earned with Paycor. Amounts shown for termination other than for cause or resignation for good reason within one year of a change in control were determined as described above under “Arrangements Related to the Acquisition of Paycor.” Base salary is Mr. Ante’s annual salary at a multiple of 1.0. The value of Mr. Ante’s unvested time-based stock awards is based upon the closing price of the Company’s common stock of $157.91 per share as of May 30, 2025. |

| (9) | Represents the cash payment payable to Mr. Ante based on a performance-based annual cash bonus earned with Paycor based on achievement against performance targets for Paycor’s fiscal year ended June 30, 2025, as determined in good faith by the Compensation and Benefits Committee of the Board of Directors of Paycor as of April 14, 2025, the acquisition closing date, and extrapolated to June 30, 2025. |

Non-qualifiedDeferred Compensation Fiscal 2025 We offer a non-qualifiedand unfunded deferred compensation plan to our NEOs. Eligible employees can defer up to 50% of their base salary and annual incentive program award. The Company does not contribute to this plan. Gains and losses are credited based on the participant’s selection of a variety of designated investment choices. The NEO has sole control as to which of the designated funds to invest in and earns the resulting return on such investment. We do not match any participant