BERGSTROM RYAN NORMAN 4

What Happened

• Ryan Bergstrom, Chief Product Officer of Paychex (PAYX), disposed of 2,090 shares on July 1, 2026 to satisfy tax withholding obligations tied to the lapse of restrictions on restricted stock/RSUs.
• The shares were disposed at $102.71 per share, for a total value of approximately $214,664. This was a sale to cover taxes (routine administrative disposition), not a cash purchase or an opportunistic open-market sale.

Key Details

• Transaction date: 2026-07-01; Filing date: 2026-07-02 (timely filing).
• Price per share: $102.71; Shares disposed: 2,090; Aggregate value: ~$214,664.
• Footnote: F1 — Disposition of shares to satisfy tax withholding from lapse of restrictions on restricted stock/RSUs (sell-to-cover).
• Shares owned after transaction: Not specified in the provided filing.

Context

• This transaction is a routine "sell-to-cover" to meet tax withholding when restricted shares vest; such disposals are administrative and do not necessarily reflect the insider's view of the company.
• Because this was a tax-withholding disposition (code F), it is not the same signal as an open-market sale or a purchase; retail investors typically regard buy transactions as more informative about insider sentiment.