Martin Mucci served as the CEO of Paychex, Inc. from September 2010 until October 2022, when he retired. During his tenure, he also took on the role of Chairman of the Board in December 2021, showing his deep commitment to...

Martin Mucci served as the CEO of Paychex, Inc. from September 2010 until October 2022, when he retired. During his tenure, he also took on the role of Chairman of the Board in December 2021, showing his deep commitment to the company. Under his leadership, Paychex made significant strides in its operations, especially during challenging economic times such as the COVID-19 pandemic. Mucci's annual compensation peaked at over $11 million in 2022, mainly from vested stock awards, as he did not receive bonuses in 2021 or 2022 due to performance metrics and his retirement prior to bonuses being awarded. Interestingly, he had substantial stock holdings, with values fluctuating significantly; he even reported an insider trading value of $70 million in late 2021. His decisions and actions heavily influenced Paychex, a key player in the payroll and human resources services sector, as he guided the company toward consistent growth and improved shareholder value. Mucci’s background in operations guided his strategic vision for the company during his lengthy career there.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Paychex CEOs

P

Martin Mucci

Ex-CEO of Paychex

Education

N/A

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

March 15, 1967 - 58 years ago

CEO of Paychex for

12 years 0 months (Sep 2010 - Oct 2022)

Previous Experience

Senior Vice President, Operations at Paychex; various roles at different companies

Rivals

Competitors/colleagues of Martin Mucci

B

Timothy C. Gokey

CEO of Broadridge Financial Solutions

2022 Compensation

Stock

$0.00

Salary

$962.50K

Bonus

$0.00

Other

$54.35K

Total Holdings

$39.30M

A

Carlos A. Rodriguez

CEO of Automatic Data Processing, Inc.

2022 Compensation

Stock

$0.00

Salary

$1.16M

Bonus

$0.00

Other

$421.82K

Total Holdings

$17.78M

T

Philippe Krakowsky

CEO of The Interpublic Group of Companies

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$1.68M

Other

$184.01K

Total Holdings

$14.14M

B

Horacio Rozanski

CEO of Booz Allen Hamilton

2023 Compensation

Stock

$1.50M

Salary

$1.20M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$70.96M

M

Daniel S. Glaser

CEO of Marsh & McLennan Companies

2023 Compensation

Stock

$5.78M

Salary

$1.40M

Bonus

$6.00M

Other

$329.85K

Total Holdings

$36.36M

Holdings

See how much did Martin Mucci make over time.

Martin Mucci had impressive holdings in Paychex, especially noted in late 2021, when the estimated value of his stock swelled to $70 million, reflecting his deep investment in the company’s future. Over the years, his holdings saw substantial fluctuations, which...

Martin Mucci had impressive holdings in Paychex, especially noted in late 2021, when the estimated value of his stock swelled to $70 million, reflecting his deep investment in the company’s future. Over the years, his holdings saw substantial fluctuations, which was especially pronounced during his last years as CEO. For instance, in early 2022, these values hovered around $70 million, before gradually declining into 2023, hitting values between $50 and $55 million. His stock portfolio’s high valuation is a reminder of his significant stake in and commitment to Paychex as he operated in a role where his personal wealth was closely tied to the company's performance, ensuring his interests aligned with those of investors.

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Total Stock Sold

$177.16M

PAYX

$177.16M

2,082,423 PAYX shares

What if they kept their stock?

If Martin Mucci didn't sell their stock, today they would have:
Extra PAYX2,082,423 shares worth $154.62M.
This is -12.73% and $22.54M less than what they got when they sold the stock.

Charitable Transactions

PAYX

96,530 shares

PAYX

Recent Charitable Transactions

PAYX

$2.47M

PAYX at $126.11/share

Aug 2, 2024

Charity

PAYX

$7.91M

PAYX at $126.52/share

Jul 28, 2023

Charity

PAYX

$186.74K

PAYX at $89.95/share

Feb 26, 2021

Charity

PAYX

$170.62K

PAYX at $85.31/share

Jul 6, 2019

Charity

PAYX

$103.52K

PAYX at $69.01/share

Dec 11, 2017

Charity

PAYX

$181.25K

PAYX at $61.65/share

Dec 28, 2016

Charity

Insider Trading

See recent insider trades of Martin Mucci.

PAYX

$2.47M

PAYX at $126.11/share

Aug 2, 2024

Charity

PAYX

896 shares

PAYX

Jul 15, 2024

Received

PAYX

$21.91M

PAYX at $116.92/share

Jul 1, 2024

Sale

CTAS

170 shares

CTAS

Oct 25, 2023

Received

PAYX

$7.91M

PAYX at $126.52/share

Jul 28, 2023

Charity

PAYX

43,081 shares

PAYX

Jul 14, 2023

Received

PAYX

$16.00M

PAYX at $120.43/share

Jul 14, 2023

Sale

CTAS

$38.17K

CTAS at $459.88/share

Apr 18, 2023

Received

PAYX

916 shares

PAYX

Oct 14, 2022

Received

PAYX

12,391 shares

PAYX

Jul 15, 2022

Received

Compensation History

See how much did Martin Mucci make over time.

In 2022, Martin Mucci's total compensation reached $11 million, a mix primarily derived from vested stock awards. Notably, he did not receive bonuses in both 2021 and 2022 due to performance issues tied to the COVID-19 pandemic and his retirement timing. His earlier years saw fluctuating compensation, peaking at $9.6 million in 2021 and steadily growing year over year prior to his final retirement year. This reflects a strategy aligned with Paychex's performance metrics, which depended on service revenue growth and operating income. Mucci's approach to compensation not only demonstrated an effort to attract top talent but also ensured his pay was tightly linked to the entrepreneurial success of the company.

Year

2022

Total Compensation

$6.74M

Salary

$1.06M

Board Justification

The compensation philosophy is designed to attract and retain top executive talent while aligning their interests with those of the shareholders through performance-based compensation.

Bonus

$0.00

Board Justification

No bonus was awarded for fiscal year 2022 as Mr. Mucci retired before the annual incentive program payout.

Other

$18.32K

Board Justification

Includes 401(k) matching contributions and other benefits.

Restricted Stock

$5.65M(5.65M RSU)

Board Justification

The value of time-based and performance-based stock awards that vested in 2022, reflecting the fair value of the awards at the time of vesting.

Performance Metrics

The performance metrics for the annual incentive program included service revenue growth and operating income, net of certain items.

Other Paychex CEOs

Here are other CEOs of Paychex

Jonathan J. Judge

Ex-CEO of Paychex

October 2004 - July 2010

John B. Gibson

CEO of Paychex

October 2022 - Present