---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-004791"
form_type: "8-K"
ticker: null
cik: "0001839439"
company_name: "PAYCOR HCM, INC."
filed_at: "2025-04-14T23:59:59+00:00"
generated_at: "2026-05-23T15:38:48.837930+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Paycor acquired by Paychex for $22.50 per share; stock to be delisted

## Summary
- All-cash consideration of $22.50 per share; aggregate enterprise value approximately $4.1 billion.
- Acquisition closed April 14, 2025; Paycor becomes an indirect wholly owned subsidiary of Paychex.
- Expected annual cost synergies exceeding $80 million in fiscal 2026; accretive to adjusted diluted EPS.
- Trading of Paycor common stock suspended on Nasdaq; company to file Form 15 to deregister.
- Paychex CEO John Gibson cites strengthened upmarket position, new revenue channels, and AI-enabled technology.

## SEC filing metadata
- accession: 0000950103-25-004791
- form_type: 8-K
- cik: 0001839439
- company_name: PAYCOR HCM, INC.
- filed_at: 2025-04-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.02, 2.01, 3.03, 5.01, 5.03, 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839439/000095010325004791/0000950103-25-004791-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839439/000095010325004791/dp227636_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-004791
- JSON: https://secwatch.observer/filing/0000950103-25-004791.json
- Plain text: https://secwatch.observer/filing/0000950103-25-004791.txt

## Key facts
- Governance Changes
  PAYCOR HCM, INC.: Company was acquired via merger; certificate of incorporation and bylaws were amended and restated in connection with the merger.
  - Change: bylaw amendment
  source text: the certificate of incorporation of the Company, as in effect immediately prior to the Effective Time, was amended and restated in its entirety to be in the form of the certificate of incorporation attached as Exhibit 3.1, which is incorporated herein by reference, and the bylaws of the Company were amended and restated to be in the form of the bylaws attached as Exhibit 3.2, which is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839439/000095010325004791/0000950103-25-004791-index.htm
- M&A Transactions
  PAYCOR HCM, INC. underwent a change of control involving Paychex, Inc. for $22.50 per share (closed 2025-04-14).
  - Action: change of control
  - Counterparty: Paychex, Inc.
  - Consideration: $22.50 per share
  - Closing: 2025-04-14
  source text: (other than shares held by any holder who is entitled to appraisal rights and has properly exercised such rights under Delaware law) was converted into the right to receive $22.50 in cash per share, without interest thereon and less applicable withholding taxes (the “ Merger Consideration ”). The foregoing description of the Merger Agreement and the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839439/000095010325004791/0000950103-25-004791-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.