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ADP Form 4: Multiple CEO Stock Sales Reduce Holdings to 76,161 Shares

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Automatic Data Processing Inc. (ADP) Form 4 shows insider sales by the reporting person identified as the President & CEO on 09/03/2025. Multiple open-market dispositions of Common Stock were reported under codes "S" with per-share prices ranging roughly from $295.91 to $299.98. The schedule reports a decline in the reporting person’s beneficial ownership from 99,759.1585 shares to 76,161.1585 shares following the transactions, implying 23,597 shares sold on that date. The filing states these transactions were effected pursuant to a Rule 10b5-1 trading plan adopted in September 2024.

Positive

  • Sales executed under a documented Rule 10b5-1 trading plan adopted in September 2024, which is disclosed in the filing
  • Form 4 provides detailed trade-level data including per-share prices and post-transaction beneficial ownership, supporting transparency

Negative

  • Significant reduction in beneficial ownership from 99,759.1585 shares to 76,161.1585 shares (a disposal of 23,597 shares) on 09/03/2025

Insights

TL;DR: CEO disclosed systematic sales under a 10b5-1 plan, reducing holdings by 23,597 shares on 09/03/2025.

The Form 4 indicates the President & CEO executed a series of open-market sales under an existing Rule 10b5-1 plan, which provides an affirmative defense to insider trading claims when properly adopted and operated. The filing clearly documents the execution date, per-share prices across multiple trades, and the post-transaction beneficial ownership figure. For governance review, the key facts are the existence and timing of the plan (adopted September 2024) and the aggregate reduction in holdings to 76,161.1585 shares. The disclosure appears complete and compliant with Section 16 reporting requirements.

TL;DR: Multiple small-block sales executed the same day at ~$296–$300, reducing CEO stake by ~23.6k shares.

The transaction list shows numerous individual sell executions on 09/03/2025 with prices reported between approximately $295.91 and $299.98 per share. The cumulative effect is a decline in beneficial ownership from 99,759.1585 to 76,161.1585 shares. Because the sales were made under a stated 10b5-1 plan, they likely reflect a pre-established schedule rather than ad hoc insider selling. The filing supplies specific per-trade prices and post-trade ownership, allowing precise calculation of shares disposed. No derivative transactions are reported on this Form 4.

Insider Black Maria
Role President & CEO
Sold 23,605 shs ($7.04M)
Type Security Shares Price Value
Sale Common Stock 7 $299.715 $2K
Sale Common Stock 60 $299.8648 $18K
Sale Common Stock 100 $299.9789 $30K
Sale Common Stock 100 $296.445 $30K
Sale Common Stock 200 $299.2765 $60K
Sale Common Stock 200 $296.3863 $59K
Sale Common Stock 200 $295.9144 $59K
Sale Common Stock 316 $296.3829 $94K
Sale Common Stock 631 $298.2444 $188K
Sale Common Stock 677 $297.3701 $201K
Sale Common Stock 845 $296.3645 $250K
Sale Common Stock 909 $298.9535 $272K
Sale Common Stock 1,052 $298.8197 $314K
Sale Common Stock 1,159 $298.079 $345K
Sale Common Stock 1,176 $298.1085 $351K
Sale Common Stock 1,300 $299.4002 $389K
Sale Common Stock 1,362 $299.1893 $407K
Sale Common Stock 2,315 $297.8546 $690K
Sale Common Stock 4,307 $298.3234 $1.28M
Sale Common Stock 6,689 $298.5222 $2.00M
Holdings After Transaction: Common Stock — 99,759.159 shares (Direct)
Footnotes (1)
  1. [object Object]
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).
X
 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*
Black Maria
(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)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025
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 09/03/2025 S 7(1) D $299.715 99,759.1585 D
Common Stock 09/03/2025 S 60(1) D $299.8648 99,699.1585 D
Common Stock 09/03/2025 S 100(1) D $299.9789 99,599.1585 D
Common Stock 09/03/2025 S 100(1) D $296.445 99,499.1585 D
Common Stock 09/03/2025 S 200(1) D $299.2765 99,299.1585 D
Common Stock 09/03/2025 S 200(1) D $296.3863 99,099.1585 D
Common Stock 09/03/2025 S 200(1) D $295.9144 98,899.1585 D
Common Stock 09/03/2025 S 316(1) D $296.3829 98,583.1585 D
Common Stock 09/03/2025 S 631(1) D $298.2444 97,952.1585 D
Common Stock 09/03/2025 S 677(1) D $297.3701 97,275.1585 D
Common Stock 09/03/2025 S 845(1) D $296.3645 96,430.1585 D
Common Stock 09/03/2025 S 909(1) D $298.9535 95,521.1585 D
Common Stock 09/03/2025 S 1,052(1) D $298.8197 94,469.1585 D
Common Stock 09/03/2025 S 1,159(1) D $298.079 93,310.1585 D
Common Stock 09/03/2025 S 1,176(1) D $298.1085 92,134.1585 D
Common Stock 09/03/2025 S 1,300(1) D $299.4002 90,834.1585 D
Common Stock 09/03/2025 S 1,362(1) D $299.1893 89,472.1585 D
Common Stock 09/03/2025 S 2,315(1) D $297.8546 87,157.1585 D
Common Stock 09/03/2025 S 4,307(1) D $298.3234 82,850.1585 D
Common Stock 09/03/2025 S 6,689(1) D $298.5222 76,161.1585 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. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in September 2024.
David Kwon (POA on File) 09/05/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did ADP report on 09/03/2025?

The President & CEO reported multiple open-market sales of Common Stock on 09/03/2025 under codes "S", executed under a Rule 10b5-1 plan.

How many ADP shares did the reporting person own after the transactions?

The Form 4 reports 76,161.1585 shares beneficially owned following the reported transactions.

How many ADP shares were sold according to this Form 4?

The filing shows a decline from 99,759.1585 to 76,161.1585 shares, indicating 23,597 shares were disposed.

At what prices were the ADP shares sold?

Per-share prices reported in the filing range approximately from $295.9144 to $299.9789 across the individual sell transactions.

Was the trading plan for these ADP sales disclosed?

Yes. The Form 4 states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted in September 2024.