PAYCHEX INC — Director's Dealing 2014

Jul 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2014-07-11

Reporting Person: Bottini Mark Anthony (Sr. VP of Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-11	Common Stock	S	494	$41.92	Disposed	32845	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	353	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$28.06	2021-10-17	Common Stock (51313)	51313	Direct
Stock Option	$28.06	2021-10-17	Common Stock (250000)	250000	Direct
Stock Option	$31.65	2022-07-10	Common Stock (58901)	58901	Direct
Stock Option	$38.48	2023-07-09	Common Stock (53911)	53911	Direct
Stock Option	$41.70	2024-07-08	Common Stock (44271)	44271	Direct

Footnotes

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