4/A: Paychex Executive Corrects Stock Grant Reporting Error in Amended SEC Filing
SEC Filing
Christopher C. Simmons, VP, Controller & Treasurer of Paychex, files an amended Form 4/A to correct an underreported number of performance shares granted.
Summary
- Christopher C. Simmons, VP, Controller & Treasurer of Paychex Inc., filed an amended Form 4/A with the SEC on August 6, 2024.
- The amendment corrects an administrative error in the initial Form 4 filed on July 17, 2024, regarding the number of performance shares granted.
- The original transaction date was July 15, 2024, where 128 shares of common stock were acquired at $0 price.
- Following the reported transaction, Simmons beneficially owns 8,002 shares of common stock.
- Simmons also holds stock options with varying exercise prices and expiration dates, including options exercisable on 07/15/2023, 07/15/2024, 10/15/2024 and 07/15/2025.
- A Limited Power of Attorney was executed on August 1, 2024, appointing Prabha S. Bhandari and Robert L. Schrader as attorneys-in-fact for Section 16 reporting obligations.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting a minor error. It doesn't indicate any significant positive or negative developments for the company, but the correction itself is a positive sign of attention to detail and compliance.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The correction of the filing ensures accurate information is available to shareholders and the public.
Key Dates
| Date | Description |
|---|---|
| 07/15/2023 | Date exercisable for stock options with an exercise price of $115 and an expiration date of 07/14/2032. |
| 07/15/2024 | Date of common stock transaction and date exercisable for stock options with an exercise price of $120.86 and an expiration date of 07/14/2033. |
| 10/15/2024 | Date exercisable for stock options with an exercise price of $117.98 and an expiration date of 10/14/2033. |
| 07/15/2025 | Date exercisable for stock options with an exercise price of $121.63 and an expiration date of 07/14/2034. |
| 10/22/2026 | Expiration date of Dana L. Bolia's Notary Public commission. |
| 07/14/2032 | Expiration date for stock options with an exercise price of $115. |
| 07/14/2033 | Expiration date for stock options with an exercise price of $120.86. |
| 10/14/2033 | Expiration date for stock options with an exercise price of $117.98. |
| 07/14/2034 | Expiration date for stock options with an exercise price of $121.63. |
| 07/17/2024 | Date of original Form 4 filing. |
| 08/01/2024 | Date of execution of Limited Power of Attorney. |
| 08/06/2024 | Date of amended Form 4/A filing. |
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