Company: ADP
Filing Date: 2025-04-30
Form Type: 8-K
Source: 0000950142-25-001211
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Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-04-30
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of  

On April 28, 2025, Peter J.
Hadley was appointed Chief Financial Officer (“ CFO”) of Automatic Data Processing, Inc. (the “ Company”), effective
July 1, 2025. Mr. Hadley, age 52, will succeed Don McGuire who will be stepping down from this role as of June 30, 2025, and will
continue to serve as a corporate officer of the Company during a transition period through September 30, 2025.

Prior to his appointment as
CFO of the Company, Mr. Hadley has served as Treasurer since October 2022 and as President, Asia Pacific, from November 2017 through September
2022. Prior to that, Mr. Hadley served as CFO, Global Enterprise Solutions, from July 2014 through October 2017, CFO, Employer Services
International (“ ESI”), from July 2012 through June 2014 and Vice President, Finance ESI, from July 2006 through June 2012.

The Company is providing Mr. Hadley the following key compensation
and benefits:

  An annual base salary of $650,000;  

  An annual target bonus of 150% of annual base salary, with the payout to be calculated based on performance against a set of objectives  

  Participation in the long-term incentive compensation program for executives consisting of performance-based stock units (“ PSUs”)  

  Participation in all of the Company’s applicable 401(k), executive retirement, deferred compensation, medical and health, life,        

In addition, in the event of involuntary termination of Mr. Hadley’s
employment without cause, he is entitled to 18 months of salary continuation, a prorated bonus and continued vesting in unvested equity
awards for the 18-month severance period pursuant to the Company’s Corporate Officer Severance Plan. Mr. Hadley is also covered
by the Company’s Change in Control Severance Plan for Corporate Officers, as amended, so that if his employment is terminated either
involuntarily without cause or for “good reason,” within two years after a change in control, he would be entitled to receive
150% of his total annual compensation as defined in the plan and the accelerated vesting of unvested equity awards. Mr. Hadley is subject
to the Company’s stock