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AI brief of an SEC Form 8-K · Paychex (PAYX)

Paychex says two senior vice presidents are retiring; board reduced to 10 directors

Neutral Impact 2 of 5 leadership Written later

Paychex disclosed that two senior vice presidents, Mark Bottini (Sales) and Michael Gioja (Product Development and IT), notified the company on July 8, 2025 that they are retiring from their roles, with both staying on as special advisors for a transition period. The board also reduced its size from 11 to 10 directors following the July 9, 2025 departure of co-founder B. Thomas Golisano.

Key points

  • Mark Bottini, SVP Sales, retires effective immediately and will advise through August 31, 2025 at his current salary.
  • Michael Gioja, SVP Product Development and IT, retires from his role; his base salary drops to $120,000 after August 31, 2025 as he moves to a part-time advisory role through December 31, 2025.
  • B. Thomas Golisano left the Board on July 9, 2025; the board reduced its size from 11 to 10 directors as of that date.

The filing

CompanyPaychex (PAYX)
Form8-K, current report
Filed with the SECJul 14, 2025, 4:03 PM ET
Accession number0000950170-25-095576

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 14, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.