PAYCHEX INC — Director's Dealing 2013

Jul 8, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2013-07-06

Reporting Person: HILL KEVIN N (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-06	Common Stock	S	307	$37.61	Disposed	24481	Direct
2013-07-07	Common Stock	S	361	$37.61	Disposed	24120	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$31.95	2018-07-09	Common Stock (20000)	20000	Direct
Stock Option	$31.95	2018-07-09	Common Stock (6337)	6337	Direct
Stock Option	$24.21	2019-07-08	Common Stock (31647)	31647	Direct
Stock Option	$26.02	2020-07-06	Common Stock (17872)	17872	Direct
Stock Option	$31.34	2021-07-05	Common Stock (26587)	26587	Direct
Stock Option	$31.63	2021-07-06	Common Stock (100000)	100000	Direct
Stock Option	$31.65	2022-07-10	Common Stock (31414)	31414	Direct

Footnotes

F1: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to award of restricted stock.