Adam Ante
PAYCHEXAbout Adam Ante
Adam Ante is Senior Vice President of Paycor at Paychex, appointed following Paychex’s acquisition of Paycor on April 14, 2025; he previously served as Paycor’s CFO since September 2019 . Company performance context during fiscal 2025: total service revenue $5.4B (+5% YoY), operating income $2.2B (+2% YoY), adjusted diluted EPS $4.98 (+6% YoY), and 5-year TSR of 151% (May 31, 2020 to May 31, 2025) . He is subject to Paychex’s executive trading, ownership, clawback, hedging, pledging, and forfeiture policies .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Paychex, Inc. | SVP of Paycor | Apr 2025–present | Integration and synergy delivery tied to acquisition; PSUs linked to average annual synergy attainment over 3 years . |
| Paycor HCM, Inc. | Chief Financial Officer | Sep 2019–Apr 2025 | Finance leadership at Paycor prior to acquisition by Paychex . |
External Roles
No external directorships or board roles disclosed for Mr. Ante in the proxy or 8‑K filings .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base salary (going forward) | $500,000 | Set upon appointment as SVP of Paycor; pro-rated for FY25 service . |
| FY25 salary paid | $56,827 | Reported in FY25 Summary Compensation Table . |
Performance Compensation
FY26 Annual Incentive Eligibility
| Program | Target bonus % | Metrics | Notes |
|---|---|---|---|
| Annual Officer Performance Incentive | 100% of base salary | Service revenue; Operating income (net of certain items); Annualized new business revenue | Company-wide program; specific FY25 metric calibrations disclosed for other NEOs; Mr. Ante begins participation in FY26 . |
FY25 Equity Awards – Adam Ante
| Award type | Grant date | Shares at target (#) | Grant-date fair value ($) | Metric | Payout range | Performance period | Vesting |
|---|---|---|---|---|---|---|---|
| Performance-based RSUs (PSUs) | May 14, 2025 | 23,024 | $3,196,882 | Average annual synergy attainment (Paycor integration) | 0%–150% of target | Three years ending May 31, 2028 | Vests July 15, 2028 (after performance determination) . |
Notes:
- Paychex also increased the performance-based equity emphasis for certain executives in FY25 (60% of grant value for CEO/CFO), added a 3-year performance period, and a relative TSR modifier to performance awards; Mr. Ante’s special grant is synergy-based with 3-year performance and 150% cap .
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Shares owned directly | 1,445 | Beneficial ownership as of July 31, 2025 (<1% of class) . |
| Unvested time-based RSUs/RSAs | 67,254 | Market value $10,620,079 as of May 30, 2025; converted from Paycor awards at closing with original vesting intact . |
| Performance-based RSUs (target) | 23,024 | Market value $3,635,720 as of May 30, 2025 . |
| Options outstanding | None | No exercisable or unexercisable options listed for Mr. Ante . |
| Stock ownership guideline | 3x base salary | Unvested time-based stock counts toward compliance; all NEOs currently compliant . |
| Hedging/pledging | Prohibited | Applies to all officers and directors . |
Vesting Schedule (Time-Based Awards)
| Fiscal year | Shares vesting (#) | Notes |
|---|---|---|
| FY26 | 35,810 | Converted Paycor awards vest 1/3 on first anniversary, remainder in eight equal quarterly installments . |
| FY27 | 22,078 | As scheduled . |
| FY28 | 9,366 | As scheduled . |
Employment Terms
| Term/Provision | Details |
|---|---|
| Employment agreements | None; executive employment is “at will” . |
| Clawback policy | Adopted Oct 11, 2023 (effective Oct 2, 2023); recovers excess incentive-based compensation for 3 prior fiscal years upon accounting restatement; applies to all executive officers . |
| Non-compete/forfeiture | Equity agreements include non-compete, non-solicit, confidentiality, and misconduct forfeiture; company may cancel awards and recover value/profits upon violation . |
| Insider trading windows | Open window begins 2nd business day after earnings and ends last day of the last month of each quarter; event-specific blackouts may apply . |
| Change-in-control (CIC) coverage | Mr. Ante is not covered by Paychex CIC plan; protected under Paycor Change in Control Severance Plan for 12 months post-close (to Apr 14, 2026) with installments of base-salary and target-bonus multiples, acceleration of certain time-based Paycor equity, and COBRA reimbursements, contingent on release and covenants . |
Potential Payments – Termination within 12 Months of CIC (Adam Ante)
| Component | Amount ($) |
|---|---|
| Base salary (multiple) | 500,000 . |
| Annual incentive (target) | 250,000 . |
| Time-based stock awards | 10,620,079 . |
| Performance-based stock awards (target) | 3,635,720 . |
| Benefits (COBRA reimbursement) | 23,567 . |
| Total | 15,029,366 . |
Investment Implications
- Alignment and performance levers: Special PSUs directly tie Mr. Ante’s payout to Paycor integration synergies over three years, reinforcing value-creation in the acquisition and linking compensation to measurable outcomes; maximum payout capped at 150% .
- Retention and transition: Mr. Ante has CIC protection via Paycor’s plan only through April 14, 2026; he is not covered by the ongoing Paychex CIC plan, suggesting retention risk moderates once the protection period ends and synergy delivery becomes the primary lever for realized pay .
- Selling pressure and ownership: Large unvested time-based RSUs/RSAs (67,254) and scheduled vesting in FY26–FY28 could create mechanical selling around vest dates; however, stock ownership guidelines, trading windows, and prohibitions on hedging/pledging mitigate adverse signals and require sustained ownership (guideline: 3x base salary; currently compliant) .
- Options risk profile: No options outstanding reduces near-term “in-the-money” exercise dynamics; equity exposure is primarily RSUs/PSUs linked to performance and service .