PAYCHEX INC — Director's Dealing 2017

Oct 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2017-10-09

Reporting Person: Zaucha Laurie L. (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-10-09	Common Stock	M	100	$31.63	Acquired	36460	Direct
2017-10-09	Common Stock	S	100	$64.00	Disposed	36360	Direct
2017-10-10	Common Stock	M	9400	$31.63	Acquired	45760	Direct
2017-10-10	Common Stock	S	9400	$64.00	Disposed	36360	Direct
2017-10-10	Common Stock	M	7854	$31.65	Acquired	44214	Direct
2017-10-10	Common Stock	S	7854	$64.00	Disposed	36360	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-10-09	Stock Option	$31.63	M	100	Disposed	2021-07-06	Common Stock (100)	Direct
2017-10-10	Stock Option	$31.63	M	9400	Disposed	2021-07-06	Common Stock (9400)	Direct
2017-10-10	Stock Option	$31.65	M	7854	Disposed	2022-07-10	Common Stock (7854)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$38.48	2023-07-09	Common Stock (14826)	14826	Direct
Stock Option	$41.70	2024-07-08	Common Stock (22135)	22135	Direct
Stock Option	$47.32	2025-07-07	Common Stock (23438)	23438	Direct
Stock Option	$60.84	2026-07-05	Common Stock (20665)	20665	Direct
Stock Option	$60.84	2026-07-05	Common Stock (76652)	76652	Direct
Stock Option	$57.24	2027-07-11	Common Stock (20579)	20579	Direct

Footnotes

F1: Exercise pursuant to Rule 10b5-1 Trading Plan.