PAYCHEX INC — Director's Dealing 2016

Jul 12, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2016-07-08

Reporting Person: TUCCI JOSEPH M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-07-08	Common Stock	M	6000	$36.87	Acquired	51262	Direct
2016-07-08	Common Stock	S	3641	$61.00	Disposed	47621	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-08	Stock Option	$36.87	M	6000	Disposed	2016-07-13	Common Stock (6000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$43.91	2017-07-17	Common Stock (6000)	6000	Direct
Stock Option	$31.95	2018-07-09	Common Stock (6250)	6250	Direct
Stock Option	$24.21	2019-07-08	Common Stock (6250)	6250	Direct
Stock Option	$26.02	2020-07-06	Common Stock (7686)	7686	Direct
Stock Option	$31.63	2021-07-06	Common Stock (11468)	11468	Direct
Stock Option	$31.50	2022-07-11	Common Stock (15052)	15052	Direct
Stock Option	$38.89	2023-07-10	Common Stock (12156)	12156	Direct
Stock Option	$41.70	2024-07-08	Common Stock (10850)	10850	Direct
Stock Option	$47.43	2025-07-08	Common Stock (11489)	11489	Direct
Stock Option	$60.59	2026-07-06	Common Stock (10220)	10220	Direct

Footnotes

F1: Exercise of stock options approaching 10-year expiration date.