Schrader Robert L. 4

What Happened
Robert L. Schrader, Senior Vice President and Chief Financial Officer of Paychex (PAYX), received restricted stock unit (RSU) awards on 2026-07-15 that the filing values at $3,250,830 (29,553 share-equivalents at $110.00). On the same date 2,382 shares were disposed of (sold/transferred) to satisfy tax withholding obligations, generating $262,020. The filing also shows an additional award entry for 4,364 RSUs (reported at $0.00, subject to vesting).

Key Details

• Transaction date: 2026-07-15 (filed 2026-07-17; appears timely).
• Main award: 29,553 RSU-equivalents reported as a derivative acquisition at $110.00/share = $3,250,830.
• Tax withholding: 2,382 shares disposed at $110.00/share = $262,020 (footnote: disposition to satisfy tax withholding on vested RSUs).
• Additional award: 4,364 RSUs recorded as acquired at $0.00 (footnote: award of restricted stock units subject to vesting under the company plan).
• Shares owned following the reported transactions: not specified in the filing.
• Footnotes: F1 confirms the 2,382-share disposition was to cover tax withholding on lapse of RSU restrictions; F2 confirms the RSU awards are subject to vesting under the Amended and Restated 2002 Stock Incentive Plan.

Context
These entries reflect equity compensation activity (awards and tax withholding), not an open-market purchase or a voluntary sale for cash besides the tax withholding. The large $3.25M entry is a grant/award (derivative/RSU), which represents a future entitlement to shares if vesting conditions are met; the small disposition was routine tax withholding.