ADP Insider Filing: Kwon Receives RSUs and Executes Share Sale at $304.05

Rhea-AI Filing Summary

David Kwon, Corporate Vice President at Automatic Data Processing, reported insider transactions on Form 4. He was granted 1,445 restricted stock units (RSUs) on 09/01/2025 that convert one-for-one into common shares and vest ratably over three years, increasing his beneficial ownership to 13,761.4 shares. The RSUs were recorded at a $0.00 acquisition price because they are awards, not open-market purchases.

On 09/02/2025 Mr. Kwon disposed of 1,955.266 shares in a transaction coded F at a price of $304.05 per share, leaving him with 11,806.134 shares beneficially owned. The Form 4 is signed by Mr. Kwon on 09/03/2025.

Insights

Securities Analyst

TL;DR: Routine compensation-related award plus an open-market sale modestly reduced insider holdings.

The 1,445-unit grant is a standard restricted stock unit award that vests over three years, aligning executive incentives with long-term performance and not requiring cash outlay at grant.

The subsequent disposition of 1,955.266 shares at $304.05 likely represents a planned sale or diversification of holdings; the size relative to total beneficial ownership is modest and does not indicate a material change in control or strategy.

Corporate Governance Expert

TL;DR: Transactions appear routine and consistent with typical executive compensation and liquidity actions.

The grant and the explanation that the units vest ratably over three years reflect standard retention and alignment practices. The Form 4 shows timely disclosure and a manual signature, meeting filing requirements. No unusual accelerations, related-party transfers, or derivative exercises are present.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Kwon David

Role Corp VP

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	1,955.266	$304.05	$594K
Grant/Award	Common Stock	1,445	$0.00	--

Holdings After Transaction: Common Stock — 11,806.134 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Kwon David

(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)
	Corp 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		1,445(1)	A	$0.0000	13,761.4	D
Common Stock	09/02/2025		F		1,955.266	D	$304.05	11,806.134	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.

	/s/ David Kwon	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 did ADP executive David Kwon report on his Form 4 (ADP)?

He was granted 1,445 RSUs on 09/01/2025 and sold 1,955.266 shares on 09/02/2025 at $304.05, leaving 11,806.134 shares beneficially owned.

What are the terms of the restricted stock units granted to David Kwon?

The RSUs convert one-for-one to common stock and vest ratably over three years.

How much did David Kwon receive per share when he sold stock?

The reported sale price was $304.05 per share on 09/02/2025.

Did the Form 4 for David Kwon meet filing requirements?

Yes. The form is signed by David Kwon on 09/03/2025 and discloses the transactions and RSU explanation.

How many ADP shares does David Kwon beneficially own after these transactions?

11,806.134 shares beneficially owned following the reported transactions.