Ryan Norman Bergstrom - Apr 14, 2025 Form 4 Insider Report for PAYCHEX INC (PAYX)

Role: Chief Product Officer
Signature: /s/ Prabha S. Bhandari, Attorney-in-fact
Stock symbol: PAYX
Transactions as of: Apr 14, 2025
Transactions value $: $0
Form type: 4
Date filed: 4/16/2025, 05:14 PM
Previous filing: Apr 2, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PAYX	Common Stock	Award		+20.4K			20.4K	Apr 14, 2025	Direct	F1
transaction	PAYX	Common Stock	Award		+31.4K	+154.13%		51.8K	Apr 14, 2025	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the conversion of restricted stock units with respect to common stock of Paycor HCM Inc. ("Paycor"), par value $0.001 per share ("Paycor Common Stock"), held by the reporting person as of April 14, 2025, into restricted stock units with respect to common stock of the Issuer, par value $0.001 per share ("Paychex Common Stock"), in accordance with the terms of the Agreement and Plan of Merger, dated as of January 7, 2025, by and among Paycor, the Issuer and Skyline Merger Sub, Inc. (the "Merger Agreement").
F2	Reflects the conversion of restricted stock awards with respect to common stock of Paycor Common Stock, held by the reporting person as of April 14, 2025, into restricted stock awards with respect to Paychex Common Stock, in accordance with the terms of the Merger Agreement.

Content

Reflects the conversion of restricted stock units with respect to common stock of Paycor HCM Inc. ("Paycor"), par value $0.001 per share ("Paycor Common Stock"), held by the reporting person as of April 14, 2025, into restricted stock units with respect to common stock of the Issuer, par value $0.001 per share ("Paychex Common Stock"), in accordance with the terms of the Agreement and Plan of Merger, dated as of January 7, 2025, by and among Paycor, the Issuer and Skyline Merger Sub, Inc. (the "Merger Agreement").

Reflects the conversion of restricted stock awards with respect to common stock of Paycor Common Stock, held by the reporting person as of April 14, 2025, into restricted stock awards with respect to Paychex Common Stock, in accordance with the terms of the Merger Agreement.