Automatic Data Processing (ADP) EVP reports Rule 16b-3(f) stock transaction

Rhea-AI Filing Summary

Automatic Data Processing executive Brian L. Michaud reported a small discretionary transaction in company stock. On this Form 4, he recorded a Rule 16b-3(f) discretionary transaction involving 49.4306 shares of Common Stock at $223.94 per share. Following the transaction, his directly held position is 14,511.7825 shares, indicating a routine, minor adjustment rather than a significant change in ownership.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Michaud Brian L.

Role Executive VP

Type	Security	Shares	Price	Value
I	Common Stock	49.431	$223.94	$11K

Holdings After Transaction: Common Stock — 14,511.783 shares (Direct, null)

Footnotes (1)

Key Figures

Discretionary transaction shares: 49.4306 shares Transaction price per share: $223.94 per share Shares held after transaction: 14,511.7825 shares

3 metrics

Discretionary transaction shares 49.4306 shares Rule 16b-3(f) discretionary transaction in Common Stock

Transaction price per share $223.94 per share Price used to report discretionary transaction

Shares held after transaction 14,511.7825 shares Direct Common Stock holdings following Form 4 transaction

Key Terms

Rule 16b-3(f), discretionary transaction, Common Stock

3 terms

Rule 16b-3(f) regulatory

"transaction_code_description: "Discretionary transaction under Rule 16b-3(f)""

discretionary transaction financial

"transaction_action: "discretionary transaction" and code description text"

Common Stock financial

"security_title: "Common Stock" in the reported transaction"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:11 PM Accepted by SEC EDGAR 07/02/2026 - 04:11 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Michaud Brian L.

(Last) (First) (Middle)

ONE ADP BOULEVARD

(Street)

ROSELAND NEW JERSEY 07068

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AUTOMATIC DATA PROCESSING INC [ ADP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2026		I		49.4306	A	$223.94	14,511.7825	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	David Kwon (POA on File)	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did ADP executive Brian Michaud report on this Form 4?

Brian L. Michaud reported a small discretionary transaction in Automatic Data Processing Common Stock. The filing shows a Rule 16b-3(f) discretionary transaction involving 49.4306 shares at $223.94 per share, reflecting a minor adjustment in his equity holdings rather than a large trade.

How many ADP shares were involved in Brian Michaud’s discretionary transaction?

The discretionary transaction involved 49.4306 shares of Automatic Data Processing Common Stock. This relatively small number of shares suggests a routine portfolio or plan-related adjustment, rather than a major change in his ownership stake or a large directional bet on the company’s stock.

What price per share was reported for Brian Michaud’s ADP stock transaction?

The Form 4 shows a transaction price of $223.94 per share for the 49.4306 ADP Common Stock shares. This price is the value used to report the discretionary transaction under Rule 16b-3(f), helping quantify the size of the adjustment in dollar terms.

How many ADP shares does Brian Michaud hold after the reported transaction?

After the reported discretionary transaction, Brian L. Michaud directly holds 14,511.7825 shares of Automatic Data Processing Common Stock. This post-transaction balance indicates he continues to maintain a substantial equity position in the company despite the small adjustment reported on this Form 4.

What does a Rule 16b-3(f) discretionary transaction mean for ADP insiders?

A Rule 16b-3(f) discretionary transaction is an insider trade structured to comply with specific SEC rules on short-swing profits. For ADP executives like Brian Michaud, it typically reflects a pre-arranged or plan-related adjustment in equity holdings rather than an open-market buy or sell decision.

Is Brian Michaud’s Form 4 transaction a buy or sell of ADP shares?

The filing characterizes the event as a “discretionary transaction” under Rule 16b-3(f), not a straightforward open-market buy or sell. The transaction direction is labeled as “other,” indicating a plan-related or administrative adjustment instead of a conventional purchase or sale.