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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reportety

January 19, 2024

 

 

Paychex, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

01-11330

16-1124166

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

911 Panorama Trail South

 

Rochester, New York

 

14625-2396

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (585) 385-6666

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $0.01 par value

 

PAYX

 

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 8.01 Other Events.

On January 19, 2024, the Company announced that the Board approved a program to repurchase up to $400 million of Paychex common stock with authorization expiring on May 31, 2027. The Board voted to authorize the repurchase program on January 19, 2024. This repurchase program is in addition to the existing program with authorization expiring on January 31, 2024. Also on January 18, 2024, the Company announced a quarterly dividend of $0.89 per share payable February 27, 2024 to shareholders of record as of February 13, 2024. The Company’s press release dated January 19, 2024, announcing the repurchase program and dividend is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

Exhibit

Description

Exhibit 99.1

Press Release of Paychex, Inc.dated January 19, 2024

Exhibit 104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

PAYCHEX, INC.

 

 

 

 

Date:

January 19, 2024

By:

/s/ John B. Gibson

 

 

 

President and Chief Executive Officer

 

 

 

 

Date:

January 19, 2024

By:

/s/ Robert L. Schrader

 

 

 

Senior Vice President and Chief Financial Officer