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Paychex 8-K Report, Executive Changes (May 16, 2025)

Reports
Leadership Changes·Exhibits & Filings
Filing Date
Filed May 16, 2025
Period End
May 15, 2025
Security
PAYX
In the record · 2016–202610-K1110-Q328-K99

PAYX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 99 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Feb ’20Feb ’20
  2. Leadership change8-K · Oct ’22Oct ’22
  3. Leadership change8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed May 16, 2025. Cited figures are marked; the original filing is the authoritative source.

Paychex, Inc. (Nasdaq: PAYX) filed a Form 8-K on May 16, 2025 to report that B.

Thomas Golisano, the company's Founder, notified the Board of Directors on May 15, 2025 of his decision to step down from the Board, effective after the Company's July 2025 Board meeting. Mr. Golisano did not cite any disagreement with the company's operations, policies or practices. Accompanying Exhibit 99.1, a press release dated May 16, 2025, describes Mr. Golisano's history with the company.

He founded Paychex in 1971, took it public in 1983, and served as President, CEO and Chairman, retiring as President and CEO in 2004 and serving as Chairman until 2021, when Martin Mucci assumed the Chairman role. The release describes Paychex as serving nearly 800,000 clients, with annual revenues of over $5 billiona and a market capitalization exceeding $50 billion. Mr. Golisano is quoted saying it has been a great run of over 54 years, and Chairman Mucci said he looks forward to continuing the relationship.

For investors, the filing is primarily a governance and leadership-transition notice rather than a financial disclosure. It does not state any change to financial results, guidance or operations. The release also notes Mr. Golisano's philanthropic commitments, including over $800 millionb in total charitable gifts.

02—Key points

Key Highlights

  1. B. Thomas Golisano notified the Board on May 15, 2025 that he will step down as a director, effective after the July 2025 Board meeting.
  2. No disagreement with the Company's operations, policies or practices was cited in connection with the departure.
  3. Mr. Golisano founded Paychex in 1971, took it public in 1983, and retired as President and CEO in 2004.
  4. He served as Chairman until 2021, when Martin Mucci assumed the Chairman position, which he currently holds.
  5. The press release describes Paychex as serving nearly 800,000 clients, with annual revenues of over $5 billion and a market capitalization exceeding $50 billion.
  6. Mr. Golisano has committed over $800 million in total charitable gifts over his lifetime, and announced philanthropic awards totaling nearly a half-billion dollars last fall.
  7. The company has nearly 19,000 employees, according to the press release.

03—Questions

Frequently Asked Questions

  1. Is Mr. Golisano leaving because of a dispute with the company?

    No. The filing states that Mr. Golisano did not cite any disagreement on any matter relating to the Company's operations, policies or practices.

  2. When does the board departure take effect?

    The departure is effective after the Company's July 2025 Board meeting.

  3. Who leads the Board of Directors?

    The press release states that Martin Mucci, who assumed the Chairman position in 2021, currently holds the role of Chairman of the Board.

  4. Does this filing include changes to Paychex's financial results or guidance?

    No. The filing is a governance notice about a director's departure and does not report financial results or guidance changes.

04—Continue

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