Mason Argiropoulos
About Mason Argiropoulos
Mason Argiropoulos is Chief Human Resources Officer at Paychex, Inc., appointed in April 2024, and serves on the company’s Executive Committee; he is 47 years old . Prior to Paychex, he was CHRO at UnitedLex (2018–2024) and held senior HR leadership roles at iQor, including CHRO (2012–2018) . During fiscal 2025, Paychex delivered total service revenue of $5.4B (+5% YoY), operating income of $2.2B (+2% YoY), adjusted diluted EPS of $4.98 (+6% YoY), and a 5-year TSR of 151%, framing the performance context for executive incentives . As CHRO, Argiropoulos publicly emphasized workforce strategy when Newsweek named Paychex one of America’s Greatest Workplaces 2025, highlighting training, EBRGs, benefits, and well‑being programs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| UnitedLex | Chief Human Resources Officer | 2018–2024 | Global legal services provider; led HR for scaling talent and operations |
| iQor | Senior HR leadership, including CHRO | 2012–2018 | Global BPO firm; enterprise HR leadership across large-scale operations |
Performance Compensation
Company executive incentive design (applies to NEOs; CHRO‑specific weights and payouts not disclosed). Annual cash incentive metrics for fiscal 2025 and actual achievement:
| Metric | Threshold (YoY growth / % of Plan) | Target (YoY growth / % of Plan) | Maximum (YoY growth / % of Plan) | Actual Achievement (% of Target) |
|---|---|---|---|---|
| Service revenue | 1.2% / 96.0% | 5.5% / 100.0% | 7.6% / 102.0% | 100.0% |
| Operating income, net of certain items | 2.4% / 96.0% | 6.6% / 100.0% | 8.8% / 102.0% | 99.3% |
| Annualized new business revenue | 2.0% / 98.1% | 4.0% / 100.0% | 7.2% / 103.1% | Below threshold (0% payout) |
Illustrative weightings (target percent of base salary) by role used in fiscal 2025 annual incentive (selected roles; CHRO not disclosed):
| Metric | CEO Target Weight (% of base) | SVP – Other (e.g., CFO/IT) Target Weight (% of base) |
|---|---|---|
| Service revenue | 37.5% | 30.0% |
| Operating income, net of certain items | 55.0% | 35.0% |
| Annualized new business revenue | 37.5% | 25.0% |
Long‑term equity program for fiscal 2025 (NEOs): performance‑based RSUs with a 3‑year performance period; metrics are service revenue growth and operating income (equally weighted), modified ±25% by relative TSR vs. S&P 500; payout range 0–200% of target . Performance stock awards granted in July/October 2023 (2‑year performance period ended May 31, 2025) paid at 84% of target and are time‑restricted for an additional one year .
| Award Cohort | Performance Period | Targets (2‑year) | Actuals | Payout as % of Target |
|---|---|---|---|---|
| 2023 grants | FY2024–FY2025 | Service revenue: $10,747M (target); Operating income (net of certain items): $4,318M (target) | Service revenue: $10,542M (98% of target); Operating income (net of certain items): $4,228M (98% of target) | 84% |
Program governance: large portion of executive pay “at risk”; for CEO 90% of target comp variable; other NEOs average 82% (ex‑Ante); fiscal 2025 annual cash incentive paid at 70.9% of target for CEO and 63.0% for other NEOs (ex‑Ante) . Clawback applies to annual incentive and performance‑based awards; non‑compete and forfeiture provisions apply to equity agreements .
Equity Ownership & Alignment
| Holding Type | Amount | Ownership Form | Note |
|---|---|---|---|
| Common Stock | 2,096 | Direct (D) | Reported in Form 5 for FY ended May 31, 2025 |
| Employee Stock Purchase Plan (ESPP) | 70 | Direct (D) | Reported in Form 5 |
- Insider trading policy: trades limited to defined window periods; event‑specific blackouts may apply .
- Hedging and pledging prohibited for directors, officers, employees; stock ownership guidelines apply to NEOs (CEO 6x salary; SVPs 3x) and directors; all NEOs and non‑management directors compliant as of FY2025 .
Employment Terms
- Equity agreements include restrictive covenants (non‑compete, non‑solicit, confidentiality) and forfeiture/recoupment rights on violations; company may cancel outstanding equity and recover prior gains .
- Clawback policy (effective Oct 2, 2023) requires recovery of excess incentive‑based compensation for executive officers upon an accounting restatement under Section 10D/Nasdaq Rule 5608 .
- Change‑in‑Control plan: disclosed severance terms for NEOs (double‑trigger; cash multiple of base+target bonus: CEO 2.0x; certain SVPs 1.5x; pro‑rated target bonus; immediate vest of time‑based equity; pro‑rated target for performance equity; continuation benefits; no tax gross‑ups) . Coverage for CHRO specifically is not disclosed; only NEO terms are enumerated in the proxy .
Governance and Shareholder Feedback
- Say‑on‑pay in 2025 Annual Meeting was approved (For: 275,491,813; Against: 10,038,236; Abstain: 1,115,043; Broker non‑votes: 36,271,182) .
- Board committees oversee compensation risk and corporate governance; the Compensation & Leadership Committee uses an independent consultant (FW Cook) and emphasizes pay‑for‑performance alignment .
Investment Implications
- Alignment/retention: Company’s executive incentive architecture is tightly linked to service revenue, profitability (operating income, net of certain items), and multi‑year rTSR, with clawbacks and restrictive covenants—supporting pay‑for‑performance and mitigating undue risk; CHRO specifics are not itemized, but policies apply broadly to executive officers .
- Selling pressure and pledge risk: Argiropoulos’ disclosed holdings are modest (2,096 shares plus ESPP), with no Form 4 transactions surfaced and pledging prohibited—suggesting low near‑term selling/pledge overhang from the CHRO .
- Change‑of‑control economics: Robust double‑trigger severance is disclosed for NEOs; CHRO coverage is not specified—investors should monitor future filings for any CHRO‑specific agreements that could impact retention or exit costs .
- Execution signals: Public emphasis on workplace quality and engagement under the CHRO’s purview, alongside FY2025 performance delivery and continued shareholder support on say‑on‑pay, indicate organizational stability; watch incentive metric calibration and rTSR outcomes over the FY2025–FY2027 PSU cycle for alignment consistency .