TriNet Group Inc 2025年度报告

Every day,dedicatedpeople of smalland mediumsize businessget up to doamazingthings. (Mark One) TRINET GROUP, INC.(Exact Name of Registrant as Specified in its Charter) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: NoneIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days.Yes☒No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☒If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicateby check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of the shares of common stock on The New York Stock Exchange on June 30, 2025, was $2.2 billion.The number of shares of Registrant’s Common Stock outstanding as of February 5, 2026 was 47,299,186. Portions of the Registrant’s Definitive Proxy Statement to be issued in connection with its Annual Meeting of Stockholders, scheduled to be held on May 27, 2026, are incorporated by reference into Part III of this Form 10-K. GLOSSARY Glossary of Acronyms and Abbreviations Acronyms and abbreviations are used throughout this report, particularly in Part I, Item 1. Business; Part I, Item 1A.Risk Factors; Part II, Item 7. MD&A; Part II, Item 7A. Quantitative and Qualitative Disclosures About Market Riskand Part II, Item 8. Financial Statements and Supplementary Data. BUSINESS Cautionary Note Regarding Forward-Looking Statements For purposes of this Annual Report on Form 10-K (Form 10-K), the terms “TriNet,” “the Company,” “we,” “us” and“our” refer to TriNet Group, Inc., and its subsidiaries. This Form 10-K contains statements that are not historical innature, are predictive in nature, or that depend upon or refer to future events or conditions or otherwise containforward-looking statements within the meaning of Section 21 of the Securities Exchange Act of 1934, as amended,and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the useof words such as, but not limited to, “ability,” "achieve," “anticipate,” “believe,” “can,” “continue,” “could,” “design,”"drive," “estimate,” “expect,” “forecast,” "grow," “impact,” “intend,” “may,” “plan,” “potential,” “predict,” “project,”"remain," “seek,” “should,” “strategy,” “target,” “value,” “will,” “would” and similar expressions or variations intendedto identify forward-looking statements. Examples of forward-looking statements include, among others, TriNet’sexpectations regarding: our plans and ability to grow our client base and our WSE base and maintain existingclients and WSEs; our expectations regarding medical utilization rates by our WSEs and the impact of inflation onour insurance costs; the effect that our stock repurchase program will have on our business; the impact of plan