Was Brian L. Michaud’s ADP share sale made under a Rule 10b5-1 trading plan?

Yes. A footnote states the transactions were effected under a Rule 10b5-1 trading plan adopted in September 2025. Such pre-arranged plans allow insiders to schedule trades in advance, helping separate routine portfolio management from discretionary, market-timed decisions.

Automatic Data Processing (ADP) EVP sells 848 shares under 10b5-1 plan

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Automatic Data Processing Executive VP Brian L. Michaud sold shares in a planned transaction. On May 8, 2026, he executed an open-market sale of 848 shares of Common Stock at $212.13 per share, pursuant to a pre-established Rule 10b5-1 trading plan adopted in September 2025.

After this sale, Michaud directly holds 14,462.3519 shares of Automatic Data Processing common stock. The filing does not show any option exercises or other derivative transactions associated with this activity.

Insider Trade Summary 10b5-1

Net Seller: 848 shares ($179,886)

Net Sell 1 txn

Insider Michaud Brian L.

Role Executive VP

Sold 848 shs ($180K)

Type	Security	Shares	Price	Value
Sale	Common Stock	848	$212.13	$180K

Holdings After Transaction: Common Stock — 14,462.352 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 848 shares Sale price: $212.13 per share Shares held after sale: 14,462.3519 shares +1 more

4 metrics

Shares sold 848 shares Open-market sale of ADP Common Stock on May 8, 2026

Sale price $212.13 per share Price received for each share sold on May 8, 2026

Shares held after sale 14,462.3519 shares Direct ADP common stock ownership following the transaction

Net shares sold 848 shares Net change in position from this Form 4 transaction

Key Terms

Rule 10b5-1 trading plan, open-market sale, Common Stock, Form 4

4 terms

Rule 10b5-1 trading plan regulatory

"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in September 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

"security_title: Common Stock"

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.

Form 4 regulatory

"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 04:04 PM

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)
05/08/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/08/2026		S		848⁽¹⁾	D	$212.13	14,462.3519	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in September 2025.

	David Kwon (POA on File)	05/11/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

Brian L. Michaud reported an open-market sale of 848 shares of Automatic Data Processing common stock. The sale occurred on May 8, 2026, at a price of $212.13 per share, reflecting a routine disposition by the company’s Executive Vice President.

How many ADP shares does Brian L. Michaud hold after this reported sale?

After the reported transaction, Brian L. Michaud directly holds 14,462.3519 shares of Automatic Data Processing common stock. This remaining position is disclosed in the Form 4 as his total direct ownership following the 848-share open-market sale executed on May 8, 2026.

What was the sale price for Brian L. Michaud’s ADP shares in this Form 4 filing?

The 848 ADP shares were sold at $212.13 per share. This price reflects the per-share consideration received in the open-market transaction on May 8, 2026, as reported in the Form 4 for Automatic Data Processing’s Executive Vice President.

Does this ADP Form 4 show any option exercises or derivative transactions by Brian L. Michaud?

No. The Form 4 lists only a non-derivative transaction: an open-market sale of common stock. The derivative section is empty, indicating no reported option exercises, conversions, or other derivative transactions associated with this specific filing for Brian L. Michaud.