Michaud Brian L. 4

What Happened
Brian L. Michaud, Executive Vice President of Automatic Data Processing, reported an open-market sale of 1,000 shares on 2026-02-06 at $234.18 per share, totaling $234,180. The transaction is a sale (not a purchase) and was executed under a pre-established trading plan.

Key Details

• Transaction date and price: 2026-02-06, 1,000 shares @ $234.18 each (total $234,180)
• Transaction type: Open-market sale (Code S)
• Shares owned after transaction: Not specified in the provided excerpt of the filing
• Footnote: Trades were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in September 2025
• Filing: Form 4 filed 2026-02-09 reporting the 2026-02-06 transaction; no late-filing indication provided in the excerpt

Context
Sales made under a 10b5-1 plan are preplanned and are generally considered routine rather than a direct signal of changed insider sentiment. For retail investors, purchases typically carry more weight as a bullish indicator; routine insider sales like this one are common and may be done for diversification or liquidity needs.