John B. Gibson

President and CEO at Paychex Inc

Board

Since October 14, 2022

Age

58 years

Tenure

Has served at PAYX since May 2013, progressing from Senior Vice President of Service to President and COO in December 2021, and then to President and CEO in October 2022.

Also at Paychex Inc

Beaumont Vance

Senior Vice President of Data, Analytics, and AI

Christopher Simmons

Vice President, Controller, and Treasurer

Elizabeth Roaldsen

Senior Vice President of Operations and Customer Experience

About

John B. Gibson has built a distinguished career in the HR and technology sectors through his progressive leadership roles at PAYX. He joined the company in May 2013 as Senior Vice President of Service and has continuously evolved within the organization, serving as President and COO before taking on his current role as President and CEO in October 2022.

Prior to his journey at PAYX, he held prominent positions at established companies such as Ameritech (now AT&T) and Convergys, where he was responsible for delivering comprehensive global HR solutions across multiple countries. His early work in these roles contributed significantly to his development as a leader in the business services and HR technology industries.

At PAYX, his strategic vision and expertise have been instrumental in spearheading digital transformation and service enhancements, driving growth in professional employer organization (PEO) and HR advisory services. His leadership has not only propelled the company forward but also reinforced its position as a market leader in payroll and HR solutions.

$PAYX Performance Under John B. Gibson

Past Roles

Organization	Role	Date Range	Details
Paychex, Inc.	President and Chief Operating Officer	Dec 2021 - End of role upon promotion to CEO	Led daily operations including sales, service, marketing, and management
Paychex, Inc.	Senior Vice President, Service	May 2013 - Dec 2021	Oversaw HR solutions, technology, and business services
Convergys (now Concentrix)	President, HR Management Division	N/A	Provided comprehensive global HR solutions to clients in 68 countries
Ameritech (now AT&T)	Senior Executive	N/A	Held senior roles in HR outsourcing and technology

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Salary	$922,211	27 bi-weekly periods	Base Salary
All Other Compensation	$17,807	Fiscal Year	Life Insurance Premiums: $1,500 ; 401(k Company Match: $16,307

Performance Compensation

Data from FY 2024

Annual Incentive Program

Metric	Threshold	Target	Maximum	Weight (% of Base Salary)	Actual Achievement/Payout
Service Revenue	1.8% YOY	6.1% YOY	8.2% YOY	37.5%	98.6% of target; 30.5% payout
Operating Income, Net of Certain Items	3.1% YOY	7.4% YOY	9.5% YOY	55.0%	98.9% of target; 45.4% payout
Annualized New Business Revenue	3.3% YOY	7.3% YOY	10.1% YOY	37.5%	Below threshold; 0% payout
Qualitative Goals	N/A	N/A	N/A	20.0%	18.0% payout

Total Incentive Payout: 93.9% of Base Salary

Equity Awards

Time-Based RSUs

Grant Date: July 15, 2023
Grant-Date Fair Value: $1,149,983
Shares Granted: 9,515
Vesting: Pro-rata over 3 years

Performance-Based RSUs

Grant Date: July 15, 2023
Grant-Date Fair Value: $2,874,972
Shares Granted: 25,208 at target ( : Threshold: 15,125, Maximum: 37,812)
Performance Period: 2 years plus a 1-year service period for full vesting
Tied to: Service Revenue and Operating Income metrics

Stock Options

Grant Date: July 15, 2023
Grant-Date Fair Value: $1,725,007
Options Granted: 63,583
Exercise Price: $120.86
Vesting: One-third per year over 3 years
Term: 10 years
Not tied to performance metrics