PAYCHEX INC — Director's Dealing 2015

Jul 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2015-07-08

Reporting Person: Zaucha Laurie L. (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-07-08	Common Stock	A	1779	$0.00	Acquired	26686	Direct
2015-07-08	Common Stock	A	7998	$0.00	Acquired	34684	Direct
2015-07-09	Common Stock	S	253	$47.43	Disposed	34431	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-07-08	Stock Option	$47.32	A	23438	Acquired	2025-07-07	Common Stock (23438)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$30.93	2021-03-27	Common Stock (3858)	3858	Direct
Stock Option	$31.34	2021-07-05	Common Stock (6093)	6093	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
Stock Option	$38.48	2023-07-09	Common Stock (29651)	29651	Direct
Stock Option	$41.70	2024-07-08	Common Stock (22135)	22135	Direct

Footnotes

F1: Award of restricted stock, subject to vesting, pursuant to the Amended and Restated 2002 Stock Incentive Plan.

F2: Award of restricted stock, subject to vesting, pursuant to the performance award under the Amended and Restated 2002 Stock Incentive Plan.

F3: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to restricted stock.