Paychex director exercises options, sells shares
Paychex Inc. director Joseph M. Tucci reported an option exercise and related share transactions.
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Form Type
4
Rhea-AI Filing Summary
Paychex Inc. director Joseph M. Tucci reported an option exercise and related share transactions. He exercised 10,220 stock options at $60.59 per share as they approached their 10-year expiration. Of the resulting shares, 6,313 were withheld to cover tax obligations and 3,907 were sold in open-market transactions at a weighted-average price of $98.25 per share. Following these transactions, Tucci directly owned 67,364 shares of Paychex common stock.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
14 txns
Insider
TUCCI JOSEPH M
Role
Director
Sold
3,907 shs ($384K)
Approx. gross sale proceeds
$384K
Approx. exercise cost
$619K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option | 10,220 | $0.00 | $0.00 |
| Exercise | Common Stock | 10,220 | $60.59 | $619K |
| Exercise Price or Tax Liability | Common Stock | 6,313 | $98.10 | $619K |
| Sale | Common Stock | 3,907 | $98.25 | $384K |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
| holding | Stock Option | -- | -- | -- |
Holdings After Transaction:
Stock Option — 47,193 contracts (Direct);
Common Stock — 67,364 shares (Direct);
Common Stock — 3,351 contracts (Direct)
Footnotes (2)
- F1. Exercise of stock options approaching 10-year expiration date.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.25 to $98.31, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Key Figures
Options exercised: 10,220 shares
Option exercise price: $60.59/share
Shares sold: 3,907 shares
+4 more
7 metrics
Options exercised
10,220 shares
Stock options on Paychex common stock exercised on 2026-06-26
Option exercise price
$60.59/share
Exercise or conversion price for 10,220 stock options
Shares sold
3,907 shares
Open-market sale of Paychex common stock at weighted $98.25
Tax-withheld shares
6,313 shares
Shares delivered to cover tax liability at $98.10
Shares owned after
67,364 shares
Direct Paychex common stock ownership following transactions
Option approaching expiration
10-year term
Footnote notes exercise of options nearing 10-year expiration
Weighted-average sale price
$98.25/share
Average price for sold shares, range $98.25–$98.31
Key Terms
stock option, derivative security, tax-withholding disposition, weighted average price, +1 more
5 terms
stock option financial
"Exercise of stock options approaching 10-year expiration date."
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Paychex (PAYX) director Joseph Tucci report in this Form 4?
Director Joseph M. Tucci reported exercising 10,220 stock options and related share movements. He had shares withheld for taxes and sold additional shares, while ending with 67,364 directly owned Paychex common shares after the transactions.
How many Paychex stock options did Joseph Tucci exercise and at what price?
He exercised 10,220 stock options for Paychex common stock. The options had an exercise price of $60.59 per share and were exercised as they approached their 10-year expiration date, according to the filing’s footnote.
Does Joseph Tucci still hold Paychex stock options after this Form 4?
Yes. The filing lists multiple remaining stock option awards on Paychex common stock with various exercise prices and expiration dates extending through 2035, indicating Tucci retains a sizable derivative position alongside his directly owned shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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