TUCCI JOSEPH M 4

What Happened

• Joseph M. Tucci, a director of Paychex (PAYX), exercised 10,220 stock options on 2026-06-26 (exercise price $60.59), costing $619,230. To cover taxes and/or exercise costs, 6,313 shares were withheld (reported as disposition via tax withholding) at a weighted price of $98.10 (~$619,305). An additional 3,907 shares were sold in the open market at a weighted price near $98.25 for proceeds of about $383,863. Combined cash proceeds/dispositions reported are roughly $1,003,168. The transactions are coded M (option exercise), F (tax withholding), and S (open-market sale).

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-30 (filed within normal SEC timing for Form 4).
• Option exercise: 10,220 shares at $60.59 = $619,230 cost.
• Tax withholding: 6,313 shares at $98.10 (weighted average) = $619,305 (disposed).
• Open-market sale: 3,907 shares at ~$98.25 (weighted average; footnote reports trades ranged $98.25–$98.31) = $383,863 (disposed).
• Shares owned after the transactions: not provided in the supplied filing details.
• Footnotes: F1 notes the exercise was of options approaching their 10‑year expiration; F2 notes the sale price is a weighted average and actual sale prices ranged $98.25–$98.31.

Context

• This was effectively a cashless exercise: options were exercised and a portion of the resulting shares were withheld for tax/consideration, with the remainder sold in the open market. Such transactions are common when options near expiration and do not, by themselves, indicate the insider’s long‑term view; they often reflect option exercise mechanics or tax obligations rather than a directional investment decision.