ADP Insider Filing: Michaud RSU Award and 2,450-Share Sale at $304.05

Rhea-AI Filing Summary

Brian L. Michaud, an Executive Vice President and director of Automatic Data Processing Inc. (ADP), reported two Section 16 transactions. On 09/01/2025 he was awarded 2,111 restricted stock units (RSUs) issued at $0.00 that convert one-for-one to common stock and vest ratably over three years, bringing his beneficial ownership to 18,888.451 shares. On 09/02/2025 he disposed of 2,450.374 shares at a reported price of $304.05, leaving 16,438.077 shares beneficially owned after the sale. The Form 4 was signed by a power of attorney, David Kwon, on 09/03/2025.

Positive

• RSU award disclosed (2,111 RSUs) with clear vesting: converts one-for-one and vests ratably over three years
• Filing includes power of attorney signature, indicating the report was executed and submitted in accordance with procedures

Negative

• Sale of 2,450.374 shares on 09/02/2025 at $304.05 reduced beneficial ownership to 16,438.077 shares

Insights

Financial Analyst

TL;DR Routine insider award plus an open-market sale; net holding modestly reduced.

The 09/01/2025 grant of 2,111 RSUs is a typical compensation event for an executive and vests over three years, representing future equity-delivery rather than immediate dilution. The 09/02/2025 disposition of 2,450.374 shares at $304.05 reduced the reporting person’s direct holdings to 16,438.077 shares. On balance this filing signals standard executive compensation and portfolio liquidity activity rather than a material corporate development.

Corporate Governance Expert

TL;DR Transactions appear compliant and routine; RSU vesting schedule disclosed.

The Form 4 discloses both a zero-priced RSU award with a clear vesting schedule and a separate sale reported under a standard transaction code. The filing names the reporting person as Executive VP and director and includes a power-of-attorney signature, indicating procedural compliance. No change in control, new agreements, or other governance actions are disclosed.

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
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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 NJ 07068

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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

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

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

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	09/01/2025		A		2,111(1)	A	$0.0000	18,888.451	D
Common Stock	09/02/2025		F		2,450.374	D	$304.05	16,438.077	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:

1. In the form of restricted stock units, which are convertible into common stock on a one-for-one basis and vest ratably over 3 years.

	David Kwon (POA on File)	09/03/2025
	** 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.

FAQ

What insider transactions did ADP (ADP) Executive VP Brian L. Michaud report?

The Form 4 shows a 09/01/2025 award of 2,111 RSUs (zero price, vesting over three years) and a 09/02/2025 disposition of 2,450.374 shares at $304.05.

How many ADP shares does Brian L. Michaud beneficially own after these transactions?

Following the reported transactions, he beneficially owns 16,438.077 shares.

What are the terms of the RSUs granted to Brian L. Michaud?

The RSUs convert one-for-one into common stock and vest ratably over three years, per the filing explanation.

When was the Form 4 filed and who signed it?

The Form 4 lists transaction dates of 09/01/2025 and 09/02/2025, and it was signed by David Kwon (POA) on 09/03/2025.

What was the price of the shares sold by Brian L. Michaud?

The reported sale price was $304.05 per share for the 2,450.374 shares disposed of on 09/02/2025.