Company: PAYX
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001193125-25-191789
Chunk: 15

Company: PAYCHEX INC
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 15
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 Board of the Company, paid in quarterly installments. Any director beneficially owning more than 5% of the outstanding shares of common stock of the Company may elect to receive their total compensation for serving on the Board or Committees thereof in cash in quarterly installments as opposed to in the form of a mix of cash and equity in the Company. Mr. Golisano, who was not an independent director but is a beneficial owner of more than 5% of the outstanding shares of the Company’s common stock, received total cash compensation of $298,750 during fiscal 2025, which was paid in Paychex, Inc. 2025 Proxy Statement •12

| Director Compensation |

quarterly installments. This amount was determined based on the annual retainers and fair value of equity compensation applicable to all independent directors in effect for fiscal 2025. The Board receives competitive market data on director compensation of companies in our compensation Peer Group from our independent consultants. Refer to the Compensation Discussion and Analysis section within this proxy statement for a listing of the companies included in our compensation Peer Group for fiscal 2025. The annual retainers, applicable to all independent directors, in effect for fiscal 2025 were as follows:

| Compensation Element                                              |     |   |        |
|:------------------------------------------------------------------|:----|:--|-------:|
| Annual cash retainer                                              |     | $ | 95,000 |
| Audit Committee member annual retainer                            |     | $ | 12,500 |
| C&L Committee member annual retainer                              |     | $ | 10,000 |
| N&G Committee member annual retainer                              |     | $ | 10,000 |
| Investment Committee member annual retainer                       |     | $ |  7,500 |
| Executive Committee member annual retainer                        |     | $ |  7,500 |
| Corporate Development Advisory Committee member annual retainer   |     | $ |  7,500 |
| Lead Independent Director annual retainer(1)                      |     | $ | 50,000 |
| Audit Committee Chair annual retainer(2)                          |     | $ | 25,000 |
| C&L Committee Chair annual retainer(2)                            |     | $ | 22,500 |
| N&G Committee Chair annual retainer(2)                            |     | $ | 20,000 |
| Corporate Development Advisory Committee Chair annual retainer(2) |     | $ |