Form 4: Paychex CEO John B. Gibson Disposes of Shares to Cover Tax Obligations
SEC Form 4
Paychex CEO John B. Gibson disposed of 624 shares of common stock on October 15, 2024, to satisfy tax withholding obligations related to the vesting of restricted stock units.
Summary
- On October 15, 2024, John B. Gibson, President and CEO of Paychex Inc., disposed of 624 shares of Paychex common stock.
- The transaction was executed to cover tax withholding obligations arising from the lapse of restrictions on restricted stock units.
- The shares were disposed of at a price of $142.3 per share.
- Following the transaction, Gibson directly owns 80,666 shares of Paychex common stock.
- Gibson also holds multiple stock options with varying exercise prices and expiration dates, representing the right to acquire a total of 319,208 shares of Paychex common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the trading activities of company insiders.
Key Dates
| Date | Description |
|---|---|
| 07/11/2019 | Date exercisable for stock options with an exercise price of $69.54 and an expiration date of 07/10/2028 |
| 07/10/2020 | Date exercisable for stock options with an exercise price of $85.46 and an expiration date of 07/09/2029 |
| 07/15/2021 | Date exercisable for stock options with an exercise price of $73.53 and an expiration date of 07/14/2030 |
| 07/15/2022 | Date exercisable for stock options with an exercise price of $112.67 and an expiration date of 07/14/2031 |
| 01/15/2023 | Date exercisable for stock options with an exercise price of $125 and an expiration date of 01/14/2032 |
| 07/15/2023 | Date exercisable for stock options with an exercise price of $115 and an expiration date of 07/14/2032 |
| 10/15/2023 | Date exercisable for stock options with an exercise price of $109.19 and an expiration date of 10/14/2032 |
| 07/15/2024 | Date exercisable for stock options with an exercise price of $120.86 and an expiration date of 07/14/2033 |
| 10/15/2024 | Date of transaction where 624 shares were disposed of to cover tax obligations. |
| 07/15/2025 | Date exercisable for stock options with an exercise price of $121.63 and an expiration date of 07/14/2034 |
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