secwatch.observer — SEC 8-K summary
======================================

Issuer:     AUTOMATIC DATA PROCESSING INC (ADP)
CIK:        0000008670
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0000950142-22-002966
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADP names Maria Black as CEO effective Jan 1, 2023; Rodriguez becomes Executive Chair
--------------------------------------------------------------------------------

- Appoints Maria Black as President and CEO, effective January 1, 2023; she also joins the Board.
- Carlos Rodriguez becomes Executive Chair; John P. Jones assumes independent Lead Director role.
- Black receives $1.1M base salary, 200% target bonus, and $12.225M target equity award for FY2023.
- Rodriguez receives $605,400 base salary, 150% target bonus, and continued long-term incentive participation.
- Black, a 26-year ADP veteran, has been President since January 2022; Rodriguez has served as CEO since November 2011.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8670/000095014222002966/0000950142-22-002966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8670/000095014222002966/eh220298658_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-002966

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer