VELLI JOSEPH M 4

What Happened Joseph M. Velli, a director of Paychex Inc. (PAYX), exercised stock options on May 8, 2026 to acquire 10,220 shares at a strike price of $60.59 per share, for a cash outlay of approximately $619,230. The Form 4 shows both the acquisition of the underlying shares (M-code) and a corresponding disposition of the derivative instrument (reported at $0), consistent with conversion/exercise of options rather than an open-market purchase or sale. This is an acquisition of shares (via option exercise), not a sale.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (filed within the normal reporting window).
• Shares acquired: 10,220 at $60.59 each; total cost ≈ $619,230.
• Form reports a simultaneous disposition of the derivative instrument (10,220 units at $0.00), consistent with option conversion.
• Footnote: exercise was done as the options approached their 10-year expiration (F1).
• Shares owned after the transaction: not specified in the filing.

Context

• The filing uses transaction code M (exercise or conversion of derivative), meaning options were exercised into underlying shares. There is no separate sale reported, so Velli retained (or acquired) the underlying shares rather than immediately selling them on the market.
• Footnote indicates the exercise was driven by option expiration timing, a common, routine reason for exercising options. This is factual reporting, not a statement of intent or market view.