ADP Reports Director Changes and Executive Compensation Updates
Ticker: ADP · Form: 8-K · Filed: Nov 8, 2024 · CIK: 8670
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: ADP
TL;DR
ADP board shakeup and exec pay changes filed Nov 6.
AI Summary
Automatic Data Processing, Inc. (ADP) filed an 8-K on November 8, 2024, reporting changes related to its board of directors and executive compensation. Specifically, the filing details the departure of a director, the election of new directors, and updates to compensatory arrangements for certain officers, effective November 6, 2024.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.
Key Players & Entities
- Automatic Data Processing, Inc. (company) — Registrant
- November 6, 2024 (date) — Effective date of reported changes
- November 8, 2024 (date) — Filing date of the 8-K
- Delaware (jurisdiction) — State of incorporation
- Roseland, New Jersey (location) — Principal executive offices
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but the specific name is not provided in the excerpt.
When were the changes to the board and compensation effective?
The changes reported in the 8-K were effective as of November 6, 2024.
What is the primary purpose of this 8-K filing?
The filing reports on the departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers.
Where are Automatic Data Processing, Inc.'s principal executive offices located?
The principal executive offices are located at One ADP Boulevard, Roseland, New Jersey 07068.
What is the SEC file number for Automatic Data Processing, Inc.?
The SEC file number is 001-05397.
Filing Stats: 484 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-11-08 08:58:15
Key Financial Figures
- $0.10 — e on which registered Common Stock, $0.10 Par Value (voting) ADP NASDAQ Globa
Filing Documents
- eh240554372_8k.htm (8-K) — 28KB
- 0000950142-24-002701.txt ( ) — 195KB
- adp-20241106.xsd (EX-101.SCH) — 3KB
- adp-20241106_lab.xml (EX-101.LAB) — 33KB
- adp-20241106_pre.xml (EX-101.PRE) — 22KB
- eh240554372_8k_htm.xml (XML) — 3KB
From the Filing
FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 6, 2024 Automatic Data Processing, Inc. (Exact name of registrant as specified in its charter) Delaware 1-5397 22-1467904 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) One ADP Boulevard , Roseland , New Jersey 07068 (Address of principal executive offices) (Zip Code) ( 973 ) 974-5000 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.10 Par Value (voting) ADP NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Automatic Data Processing, Inc. (the "Company") announced that John C. Ayala, Chief Operating Officer, will be stepping down from his role at the Company, effective as of January 1, 2025, and will continue to serve as a corporate officer of the Company during a transition period through March 31, 2025. The Company also announced that Joseph DeSilva, presently President, Global Sales, will become Executive Vice President, North America and Chief of Operations, effective as of January 1, 2025. In connection with this new role, Mr. DeSilva's base salary will increase by 6.2% and his annual target bonus as a percentage of base salary will increase from 100% to 150%. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUTOMATIC DATA PROCESSING, INC. (Registrant) Date: November 8, 2024 By: /s/ Michael A. Bonarti Name: Michael A. Bonarti Title: Vice President 3