Form 4: Paychex Chairman Martin Mucci Gifts Shares to Family Foundation
SEC Form 4 Filing
Martin Mucci, Chairman of Paychex, reports gifting 19,554 shares of common stock to The Mucci Family Foundation on August 2, 2024.
Summary
- Martin Mucci, Chairman of Paychex, filed a Form 4 on August 6, 2024, reporting a transaction that occurred on August 2, 2024.
- Mr. Mucci gifted 19,554 shares of Paychex common stock to The Mucci Family Foundation at a price of $126.11 per share.
- Following the transaction, Mr. Mucci directly owns 419,917.3318 shares of Paychex common stock, which includes 4998.3318 shares held indirectly through the issuer's 401(k) plan.
- Mr. Mucci also holds multiple stock options with varying exercise prices and expiration dates, totaling 933,784 shares of common stock.
Sentiment
Score: 7
Explanation: The document indicates a charitable donation, which is generally viewed positively. The insider is still holding a significant amount of shares and options.
Industry Context
Executive gifting of shares to charitable foundations is a common practice.
Related Party Transactions
- The gift of shares to The Mucci Family Foundation constitutes a related party transaction.
Stakeholder Impact
- The gift may have a minor positive impact on the company's reputation due to the charitable aspect.
- The transaction does not appear to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 07/06/2017 | Date exercisable for some stock options at $60.84 expiring 07/05/2026 |
| 07/12/2018 | Date exercisable for some stock options at $57.24 expiring 07/11/2027 |
| 07/11/2019 | Date exercisable for some stock options at $69.54 expiring 07/10/2028 |
| 07/10/2020 | Date exercisable for some stock options at $85.46 expiring 07/09/2029 |
| 07/15/2021 | Date exercisable for some stock options at $73.53 expiring 07/14/2030 |
| 07/15/2022 | Date exercisable for some stock options at $112.67 expiring 07/14/2031 |
| 10/15/2023 | Date exercisable for some stock options at $109.19 expiring 10/14/2032 |
| 07/15/2024 | Date exercisable for some stock options at $120.86 expiring 07/14/2033 |
| 07/15/2025 | Date exercisable for some stock options at $121.63 expiring 07/14/2034 |
| 08/01/2024 | Date of Power of Attorney execution. |
| 08/02/2024 | Date of the gift transaction. |
| 08/06/2024 | Date of Form 4 filing. |
| 10/22/2026 | Expiration date of Notary Public's commission. |
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