<SEC-DOCUMENT>0000950142-17-001443.txt : 20170804
<SEC-HEADER>0000950142-17-001443.hdr.sgml : 20170804
<ACCEPTANCE-DATETIME>20170804073553
ACCESSION NUMBER:		0000950142-17-001443
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170804
DATE AS OF CHANGE:		20170804
EFFECTIVENESS DATE:		20170804

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AUTOMATIC DATA PROCESSING INC
		CENTRAL INDEX KEY:			0000008670
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				221467904
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05397
		FILM NUMBER:		171006899

	BUSINESS ADDRESS:	
		STREET 1:		ONE ADP BOULVARD
		CITY:			ROSELAND
		STATE:			NJ
		ZIP:			07068
		BUSINESS PHONE:		9739745000

	MAIL ADDRESS:	
		STREET 1:		ONE ADP BOULEVARD
		CITY:			ROSELAND
		STATE:			NJ
		ZIP:			07068
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SCHEDULE 14A<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font>(Rule 14a-101)<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font>INFORMATION REQUIRED IN PROXY STATEMENT<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font>Proxy Statement Pursuant to Section 14(a) of<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font>the Securities Exchange Act of 1934<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font>(Amendment No. )</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Filed by the Registrant <font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left">Filed by a Party other than the Registrant <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 10pt">Check the appropriate box:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 10.25pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font> Preliminary Proxy Statement</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font> Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font> Definitive Proxy Statement</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-TOP: 0.2pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font> Definitive Additional Materials</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</font> Soliciting material Pursuant to Rule 14a-11(c) or Rule 14a-12</div>

<div style="FONT-SIZE: 20pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">AUTOMATIC DATA PROCESSING, INC.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: center">(Name of Registrant as Specified In Its Charter)</div>

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<font style="FONT-WEIGHT: normal">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">PAYMENT OF FILING FEE </font><font style="FONT-WEIGHT: normal">(Check the appropriate box):</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</font> No fee required.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#9744;</font> Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">1)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Title of each class of securities to which transaction applies:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Aggregate number of securities to which transaction applies:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">3)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Proposed maximum aggregate value of transaction:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Total fee paid:</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Fee paid previously with preliminary materials.</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Check box if any part of the fee is offset as provided by Exchange Act Rule 0<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#8209;</font>11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">1)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Amount Previously Paid:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Form, Schedule or Registration Statement No.:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Date Filed:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; TEXT-ALIGN: left">The press release attached as Exhibit 1 hereto may be provided to stockholders of Automatic Data Processing, Inc.</div>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>eh1700854_ex01.htm
<DESCRIPTION>EXHIBIT 1
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">EXHIBIT 1</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: Arial, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">ADP SAYS PERSHING SQUARE CAPITAL MANAGEMENT SEEKING CONTROL OF ADP</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: center">ADP Informed By Pershing That It Wants Five Seats on 10-Member Board and CEO Change;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: center">ADP Board Rejects Pershing&#8217;s Request to Extend Director Nomination Deadline</div>

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<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">ROSELAND, NJ, August 4, 2017 &#8211; </font>ADP (NASDAQ: ADP) today issued the following statement regarding ADP&#8217;s recent communications from Pershing Square Capital Management that Pershing is seeking effective control of ADP through five Board seats at ADP&#8217;s 2017 Annual Meeting as well as a CEO change.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#8220;Pershing first contacted ADP on August 1, and William Ackman said it beneficially owns 8% of ADP, largely in derivatives. Mr. Ackman requested that ADP extend the August 10 deadline for nomination of directors by 30 to 45 days and said he planned to nominate five directors, including himself, to ADP&#8217;s 10-member Board. He also said CEO Carlos Rodriguez should be replaced.&#8221;</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#8220;ADP is open to constructive input from our shareholders, and our Board respects the right of shareholders to nominate directors. However, ADP has a clearly defined Board nomination process, and the 2017 deadline for director nominations has been public for nearly a year. The Board has unanimously determined that it is not in the best interests of ADP or its other shareholders to accede to Pershing Square&#8217;s last-minute request for an extension.&#8221;</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#8220;Since Carlos Rodriguez became CEO nearly six years ago, ADP&#8217;s total shareholder return of 202%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> is well in excess of the S&amp;P 500 TSR of 128%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup> -- and is many multiples of Pershing&#8217;s TSR of 29%.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3</sup>&#8221;</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#8220;ADP has a strong and independent Board, including four new directors who have joined since 2014: Michael Gregoire, CEO of CA Technologies; Peter Bisson, former global leader of McKinsey&#8217;s High Tech Practice; William Ready, EVP and Chief Operating Officer of PayPal; and Sandra Wijnberg, Executive Advisor and former Partner of Aquiline Holdings. These directors have deep expertise in technology, operations and finance and provide important perspective on advancing ADP&#8217;s global strategy.&#8221;</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#8220;We believe our current Board has an effective balance of leadership continuity and fresh perspectives that will help us to continue this strong track record of delivering value to shareholders while successfully executing on our &#8216;All in on HCM&#8217; strategy.&#8221;</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Morgan Stanley &amp; Co. is acting as financial advisor and Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP is acting as legal advisor to ADP.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Market data is intraday on July 27, prior to rumors of Pershing Square&#8217;s investment in ADP; ADP TSR of 202% assumes shareholders have held their CDK shares since it was spun off from ADP on October 1, 2014 and all ADP and CDK dividends have been reinvested; if CDK were valued as a dividend at the spinoff date and reinvested in ADP, ADP TSR is 190%.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup> Market data as of close on July 26; S&amp;P 500 returns also include dividends.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3</sup> Pershing Square L.P. returns from January 1, 2012 through December 31, 2016.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">About ADP </font>(NASDAQ: ADP)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">Powerful technology plus a human touch. Companies of all types and sizes around the world rely on ADP cloud software and expert insights to help unlock the potential of their people. HR. Talent. Benefits. Payroll. Compliance. Working together to build a better workforce. For more information, visit ADP.com.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; COLOR: #252525; FONT-STYLE: italic; TEXT-ALIGN: left">The ADP logo, ADP, are registered trademarks of&#160;ADP, LLC. ADP A more human resource. is a service mark of&#160;ADP, LLC. All other marks are the property of their respective owners.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; COLOR: #252525; FONT-STYLE: italic; TEXT-ALIGN: left">Copyright &#169; 2017 ADP, LLC. All rights reserved.</div>

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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">Safe Harbor Statement</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><br />
</font>This document and other written or oral statements made from time to time by ADP may contain &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like &#8220;expects,&#8221; &#8220;assumes,&#8221; &#8220;projects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;we believe,&#8221; &#8220;could,&#8221; &#8220;is designed to&#8221; and other words of similar meaning, are forward-looking statements. These statements are based on management&#8217;s expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or privacy breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions and divestitures. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under &#8220;Item 1A. - Risk Factors&#8221; in our Annual Report on Form 10-K should be considered in evaluating any forward-looking statements contained herein.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">ADDITIONAL INFORMATION</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">ADP, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Company shareholders in connection with the matters to be considered at the Company&#8217;s 2017 Annual Meeting. The Company intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) in connection with any such solicitation of proxies from Company shareholders. COMPANY SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the ownership of the Company&#8217;s directors and executive officers in Company stock and other securities is included in their SEC filings on Forms 3, 4, and 5, which can be found through the Company&#8217;s website (www.adp.com) in the section &#8220;Investor Relations&#8221; or through the SEC&#8217;s website at www.sec.gov. Information can also be found in the Company&#8217;s other SEC filings, including the Company&#8217;s Annual Report on Form 10-K. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the Company&#8217;s 2017 Annual Meeting. Shareholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC for no charge at the SEC&#8217;s website at www.sec.gov. Copies will also be available at no charge at the Company&#8217;s website at <font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>www.adp.com</u></font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">CONTACTS:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">Investors:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">Christian Greyenbuhl</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">(973) 974-7835</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; TEXT-ALIGN: left"><u>Christian.Greyenbuhl@adp.com</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">Byron Stephen</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">(973) 974-7896</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: left"><u>Byron.Stephen@adp.com</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left">Media:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold; TEXT-ALIGN: left"><br />
<font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><br />
</font>Michael Schneider</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">(973) 974-5678 office</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">(973) 868-1000 mobile</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: left"><u>Michael.Schneider@adp.com</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-WEIGHT: bold">George Sard/Jared Levy/Liz Zale</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><br />
</font>Sard Verbinnen &amp; Co<font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><br />
</font>(212) 687-8080</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; TEXT-ALIGN: left"><u>ADP-SVC@sardverb.com</u></div>

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