0000723531 2025-06-01 2026-05-31 0000723531 2022-06-01 2023-05-31 0000723531 2021-06-01 2022-05-31 0000723531 2024-06-01 2025-05-31 0000723531 2023-06-01 2024-05-31 0000723531 payx:MartinMucciMember 2021-06-01 2022-05-31 0000723531 payx:JohnB.GibsonMember 2021-06-01 2022-05-31 0000723531 payx:MartinMucciMember 2022-06-01 2023-05-31 0000723531 payx:JohnB.GibsonMember 2022-06-01 2023-05-31 0000723531 payx:JohnB.GibsonMember 2023-06-01 2024-05-31 0000723531 payx:JohnB.GibsonMember 2024-06-01 2025-05-31 0000723531 payx:MartinMucciMember 2025-06-01 2026-05-31 0000723531 payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:PeoMember payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 ecd:DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember ecd:NonPeoNeoMember 2025-06-01 2026-05-31 0000723531 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-06-01 2026-05-31 0000723531 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:NonPeoNeoMember 2025-06-01 2026-05-31 0000723531 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:PeoMember payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:PeoMember payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:NonPeoNeoMember 2025-06-01 2026-05-31 0000723531 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-06-01 2026-05-31 0000723531 ecd:DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember ecd:PeoMember payx:JohnB.GibsonMember 2025-06-01 2026-05-31 0000723531 1 2025-06-01 2026-05-31 0000723531 2 2025-06-01 2026-05-31 0000723531 3 2025-06-01 2026-05-31 0000723531 4 2025-06-01 2026-05-31 iso4217:USD DEF 14A false 0000723531 Paychex, Inc. true <div id="txa111983_32" style="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Arial;font-weight:bold">Pay Versus Performance </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">In accordance with rules adopted by the SEC, we provide the following disclosure regarding executive compensation for our principal executive officers (“PEO”) and <div style="white-space:nowrap;display:inline;">Non-PEO</div> NEOs and Company performance for the fiscal years listed below. </div><div style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:11pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:11pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:10pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:10pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:10pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:10pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:1%"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:10pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:10pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:10pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:10pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:12pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:12pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:12pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:12pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:14pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:14pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:14pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:14pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:15pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:15pt;white-space:nowrap"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:14pt;white-space:nowrap"></td> <td></td> <td></td> <td style="width:14pt;white-space:nowrap"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td colspan="4" style="height:3pt"></td> <td colspan="10" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="10" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="10" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:6.5pt;background-color:#e5e5e5"> <td colspan="4" rowspan="3" style="vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;"> Fiscal<br/>  Year<br/>  (a)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom"></td> <td colspan="9" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div><div style="margin-top:0pt; margin-bottom:1pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td> <td rowspan="3" style="vertical-align:bottom"></td> <td rowspan="3" style="vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt"> </div> </td> <td style="vertical-align:bottom"></td> <td colspan="9" style="vertical-align:bottom;white-space:nowrap;text-align:center"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div><div style="margin-top:0pt; margin-bottom:1pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td> <td rowspan="3" style="vertical-align:bottom"></td> <td colspan="4" rowspan="3" style="vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Average<br/> Summary</div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Compensation<br/> Table Total<br/> for <div style="white-space:nowrap;display:inline;">Non-PEO</div><br/> NEOs<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(2)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(d)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td rowspan="3" style="vertical-align:bottom"></td> <td colspan="4" rowspan="3" style="vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Average</div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Compensation<br/> Actually Paid<br/> to <div style="white-space:nowrap;display:inline;">Non-PEO</div><br/> NEOs<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(2)(3)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(e)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"></td> <td colspan="9" style="border-bottom:1.00px solid #005389;vertical-align:bottom;white-space:nowrap;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Value of Initial Fixed $100<br/> Investment Based On:</div></div> <div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div> </td> <td rowspan="3" style="vertical-align:bottom"></td> <td colspan="4" rowspan="3" style="vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Net<br/> Income<br/> (in millions)</div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(h)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td rowspan="3" style="vertical-align:bottom"></td> <td colspan="4" rowspan="3" style="vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; margin-right:0.30em; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Operating<br/> Income,</div></div></div><div style="margin-top:0pt; margin-bottom:0pt; margin-right:0.30em; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Net of<br/> Certain<br/> Items<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(5)</div><br/> (in millions)<br/> (i)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:6.5pt;background-color:#e5e5e5"> <td style="vertical-align:bottom"></td> <td colspan="9" style="padding-bottom:3pt ;border-bottom:1.00px solid #005389;vertical-align:bottom;white-space:nowrap;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Summary Compensation Table<br/> Total for PEO</div></div></td> <td style="vertical-align:bottom"></td> <td colspan="9" style="padding-bottom:3pt ;border-bottom:1.00px solid #005389;vertical-align:bottom;white-space:nowrap;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Compensation Actually</div></div><br/> <div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Paid to PEO</div></div></td> <td rowspan="2" style="vertical-align:bottom"></td> <td colspan="4" rowspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Total<br/> Shareholder<br/> Return</div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(f)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td rowspan="2" style="vertical-align:bottom"></td> <td colspan="4" rowspan="2" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap"><div style="font-size:2pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Peer Group<br/> Total<br/> Shareholder<br/> Return<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(4)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(g)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:6.5pt;background-color:#e5e5e5"> <td style="vertical-align:bottom"></td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap"><div style="font-size:2pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Gibson<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(1)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(b)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"></td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Mucci<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(1)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(b)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"></td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap;text-align:center"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Gibson<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(1)(3)</div></div></div></div><div style="margin-top:0pt; margin-bottom:1pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(c)</div></div></div></td> <td style="vertical-align:bottom"></td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;white-space:nowrap"><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">Mucci<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.4px">(1)(3)</div></div></div></div><div style="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:Arial;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">(c)</div></div></div><div style="font-size:1pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="font-size:1pt"> <td colspan="4" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:center">2026</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">10,274,543</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">(3,354,147</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,857,061</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">(631,232</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">111.45</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">91.70</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,760</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> $</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,604</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td></tr> <tr style="font-size:1pt"> <td colspan="4" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:center">2025</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">8,807,411</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">16,426,552</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,893,402</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">6,848,997</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">174.22</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">147.00</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,657</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> $</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,189</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td></tr> <tr style="font-size:1pt"> <td colspan="4" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:center">2024</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">7,534,855</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">8,462,562</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,498,637</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,602,402</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">128.88</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">121.01</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,690</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> $</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,054</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td></tr> <tr style="font-size:1pt"> <td colspan="4" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:center">2023</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">6,680,180</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">14,442,172</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">5,660,044</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">(3,614,572</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">)</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">2,691,157</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,782,985</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">109.19</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">95.92</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,557</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> $</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,933</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td></tr> <tr style="font-size:1pt"> <td colspan="4" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:center">2022</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">11,025,026</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">—</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">23,305,787</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">3,257,026</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">5,846,642</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">125.34</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">93.33</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial">$</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,393</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"> $</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial;text-align:right">1,782</div></td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:11pt; font-size:8pt; font-family:Arial"></div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(1)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">John B. Gibson has served as PEO since fiscal 2023 following October 13, 2022. Martin Mucci served as PEO during fiscal 2023 through October 13, 2022, and in fiscal 2022. The amounts deducted and added in calculating Compensation Actually Paid (“CAP”) for Mr. Gibson for fiscal 2026 are as follows: </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:89%"></td> <td style="vertical-align:bottom;width:3%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt"> </div> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Summary Compensation Table Total</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">10,274,543</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold"></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Deduction of stock awards and option awards reported in the Summary Compensation Table</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(8,453,498</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Fiscal <div style="white-space:nowrap;display:inline;">year-end</div> value of equity awards granted during the fiscal year that remained unvested as of the last day of the fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">4,184,473</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the last day of the fiscal year of unvested equity awards that were granted in a prior year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(8,073,194</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the vesting date during the fiscal year of awards granted in a prior year that vested during the most recent fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(1,461,295</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Value of dividends or other earnings paid on equity awards not otherwise included</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">174,824</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Compensation Actually Paid</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">(3,354,147</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">)</div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(2)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">The individuals comprising the <div style="white-space:nowrap;display:inline;">Non-PEO</div> NEOs for each year are as follows: </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:21%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:18%"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2022</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2023</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2024</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2025</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Efrain Rivera</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Efrain Rivera</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">John B. Gibson</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Efrain Rivera</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Adam Ante</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Adam Ante</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Mark A. Bottini</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Ryan Bergstrom</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Michael E. Gioja</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Stephanie L. Schaeffer</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Chad Parodi</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:center">Elizabeth Roaldsen</td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td></tr></table><div style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">The amounts deducted and added in calculating the average CAP for these NEOs for fiscal 2026 are as follows: </div><div style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:90%"></td> <td style="vertical-align:bottom;width:3%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt"> </div> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Summary Compensation Table Total</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">2,857,061</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold"></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Deduction of stock awards and option awards reported in the Summary Compensation Table</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(2,013,906</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Fiscal <div style="white-space:nowrap;display:inline;">year-end</div> value of equity awards granted during the fiscal year that remained unvested as of the last day of the fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">996,878</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the last day of the fiscal year of unvested equity awards that were granted in a prior year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(1,817,669</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the vesting date during the fiscal year of awards granted in a prior year that vested during the most recent fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(761,136</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Value of dividends or other earnings paid on equity awards not otherwise included</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">107,540</td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Compensation Actually Paid</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">(631,232</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">)</div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(3)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">The amounts shown for CAP have been calculated in accordance with Item 402(v) of Regulation <div style="white-space:nowrap;display:inline;">S-K</div> and do not reflect the actual compensation realized or received by our NEOs. </div></td></tr></table><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Arial;text-align:center"> </div><div></div><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(4)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">The Peer Group TSR set forth in this table utilizes the Company’s peer group used for executive compensation market comparative purposes which was also utilized in the stock performance graph required by Item 201(e) of Regulation <div style="white-space:nowrap;display:inline;">S-K</div> included in our Form <div style="white-space:nowrap;display:inline;">10-K.</div> </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(5)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">Operating income, net of certain items is a <div style="white-space:nowrap;display:inline;">non-GAAP</div> measure. Refer to “Paychex, Inc. <div style="white-space:nowrap;display:inline;">Non-GAAP</div> Financial Measures” in Appendix A of this proxy statement for a discussion of this <div style="white-space:nowrap;display:inline;">non-GAAP</div> measure and a reconciliation to the most comparable GAAP measure of operating income. </div></td></tr></table> 10274543 0 -3354147 0 2857061 -631232 111.45 91.7 1760000000 2604000000 8807411 16426552 2893402 6848997 174.22 147 1657000000 2189000000 7534855 8462562 2498637 2602402 128.88 121.01 1690 2054000000 6680180 14442172 5660044 -3614572 2691157 1782985 109.19 95.92 1557000000 1933000000 11025026 23305787 3257026 5846642 125.34 93.33 1393000000 1782000000 <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(1)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">John B. Gibson has served as PEO since fiscal 2023 following October 13, 2022. Martin Mucci served as PEO during fiscal 2023 through October 13, 2022, and in fiscal 2022. The amounts deducted and added in calculating Compensation Actually Paid (“CAP”) for Mr. Gibson for fiscal 2026 are as follows: </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:89%"></td> <td style="vertical-align:bottom;width:3%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt"> </div> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Summary Compensation Table Total</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">10,274,543</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold"></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Deduction of stock awards and option awards reported in the Summary Compensation Table</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(8,453,498</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Fiscal <div style="white-space:nowrap;display:inline;">year-end</div> value of equity awards granted during the fiscal year that remained unvested as of the last day of the fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">4,184,473</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the last day of the fiscal year of unvested equity awards that were granted in a prior year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(8,073,194</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the vesting date during the fiscal year of awards granted in a prior year that vested during the most recent fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(1,461,295</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Value of dividends or other earnings paid on equity awards not otherwise included</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">174,824</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Compensation Actually Paid</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">(3,354,147</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">)</div></td></tr></table> John B. Gibson John B. Gibson Martin Mucci 10274543 -8453498 4184473 -8073194 -1461295 174824 -3354147 <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(2)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">The individuals comprising the <div style="white-space:nowrap;display:inline;">Non-PEO</div> NEOs for each year are as follows: </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:21%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:19%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:18%"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td> <td colspan="2" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2022</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2023</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2024</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2025</div></div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:4pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Efrain Rivera</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Efrain Rivera</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Robert L. Schrader</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">John B. Gibson</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Efrain Rivera</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Adam Ante</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Adam Ante</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Mark A. Bottini</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Mark A. Bottini</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Ryan Bergstrom</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;vertical-align:top;text-align:center"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial;text-align:center">Michael E. Gioja</div></td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Stephanie L. Schaeffer</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Michael E. Gioja</td> <td style="vertical-align:bottom">  </td> <td style="padding-bottom:2pt ;vertical-align:bottom;text-align:center">Chad Parodi</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td> <td colspan="2" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:center">Elizabeth Roaldsen</td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt"> </div> </td></tr></table> <div style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">The amounts deducted and added in calculating the average CAP for these NEOs for fiscal 2026 are as follows: </div><div style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:90%"></td> <td style="vertical-align:bottom;width:3%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="font-size:1pt;background-color:#e5e5e5"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt;background-color:#e5e5e5"> <td style="vertical-align:bottom">  <div style=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt"> </div> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="padding-bottom:3pt ;vertical-align:bottom;text-align:center"><div style="color:#005389;display:inline;"><div style="font-weight:bold;display:inline;">2026</div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Summary Compensation Table Total</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">2,857,061</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold"></div></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Deduction of stock awards and option awards reported in the Summary Compensation Table</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(2,013,906</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Fiscal <div style="white-space:nowrap;display:inline;">year-end</div> value of equity awards granted during the fiscal year that remained unvested as of the last day of the fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">996,878</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the last day of the fiscal year of unvested equity awards that were granted in a prior year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(1,817,669</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Change in fair value from the last day of the prior fiscal year to the vesting date during the fiscal year of awards granted in a prior year that vested during the most recent fiscal year</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">(761,136</td> <td style="padding-bottom:3pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt"> <td style="height:3.75pt"></td> <td colspan="5" style="height:3.75pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:Arial">Value of dividends or other earnings paid on equity awards not otherwise included</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom;text-align:right">107,540</td> <td style="padding-bottom:2pt ;BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Arial; font-size:8pt"> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">Compensation Actually Paid</div></td> <td style=" BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom">  </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"> </td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">$</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold;text-align:right">(631,232</div></td> <td style="BORDER-BOTTOM:0.75pt solid #005389;white-space:nowrap;vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; line-height:15pt; font-size:8pt; font-family:Arial;font-weight:bold">)</div></td></tr></table> 2857061 -2013906 996878 -1817669 -761136 107540 -631232 <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:7.5pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:3%;vertical-align:top;text-align:left">(4)</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:7.5pt; font-family:Arial;text-align:left">The Peer Group TSR set forth in this table utilizes the Company’s peer group used for executive compensation market comparative purposes which was also utilized in the stock performance graph required by Item 201(e) of Regulation <div style="white-space:nowrap;display:inline;">S-K</div> included in our Form <div style="white-space:nowrap;display:inline;">10-K.</div> </div></td></tr></table> Operating income, net of certain items is a <div style="white-space:nowrap;display:inline;">non-GAAP</div> measure. Refer to “Paychex, Inc. <div style="white-space:nowrap;display:inline;">Non-GAAP</div> Financial Measures” in Appendix A of this proxy statement for a discussion of this <div style="white-space:nowrap;display:inline;">non-GAAP</div> measure and a reconciliation to the most comparable GAAP measure of operating income. Operating income, net of certain items <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g111983g00a73.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g111983g00a73.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g111983g00a74.jpg"/> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g111983g00b74.jpg"/> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Arial;font-weight:bold">Tabular List </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">The following list presents the financial performance measures that the Company considers to have been the most important in linking CAP to our PEOs and <div style="white-space:nowrap;display:inline;">Non-PEO</div> NEOs for fiscal 2026 to Company performance. The measures listed below are not ranked. </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Arial; font-size:10pt;text-align:left">Annualized new business revenue<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(1)</div> </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Arial; font-size:10pt;text-align:left">Operating income, net of certain items<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(2) </div> </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Arial; font-size:10pt;text-align:left">Relative total shareholder return<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(3)</div> </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Arial; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:1%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:Arial; font-size:10pt;text-align:left">Service revenue </div></td></tr></table> Annualized new business revenue Operating income, net of certain items Relative total shareholder return Service revenue <div id="txa111983_33" style="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Arial;font-weight:bold"><div style="display:inline;">Policies </div>and Practices Related to the Grant of Certain Equity Awards </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">Our equity awards, including stock options, are granted in accordance with a predetermined schedule, which coincides with regularly scheduled C&amp;L Committee meetings that are scheduled more than one year in advance. </div><div style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">Annual grants of equity awards, including stock options, to our NEOs and members of the Board are approved during the regularly scheduled meeting of the C&amp;L Committee in July after the release of our fiscal <div style="white-space:nowrap;display:inline;">year-end</div> earnings and upcoming fiscal year financial guidance. Our trading <div style="white-space:nowrap;display:inline;">black-out</div> period normally lifts on the second business day following such release of information. The C&amp;L Committee may also grant equity awards to individuals upon hire or promotion to executive officer positions or appointment to the Board. These equity awards are not granted during any trading <div style="white-space:nowrap;display:inline;">black-out</div> periods. Recipients are notified shortly after C&amp;L Committee approval of their grant, noting the number of stock options, shares of time-based stock, target performance-based stock awards and goals, the vesting schedule, and exercise price. Any sales restrictions or other terms of the award are also communicated at that time. </div><div style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Arial">The C&amp;L Committee does not grant equity awards in anticipation of the release of material nonpublic information. Similarly, we do not time the release of material nonpublic information based on equity award grant dates. </div> true Annual grants of equity awards, including stock options, to our NEOs and members of the Board are approved during the regularly scheduled meeting of the C&amp;L Committee in July after the release of our fiscal <div style="white-space:nowrap;display:inline;">year-end</div> earnings and upcoming fiscal year financial guidance. Our trading <div style="white-space:nowrap;display:inline;">black-out</div> period normally lifts on the second business day following such release of information. The C&amp;L Committee does not grant equity awards in anticipation of the release of material nonpublic information. Similarly, we do not time the release of material nonpublic information based on equity award grant dates. false