PAYCHEX INC — Director's Dealing 2017

Jul 10, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2017-07-06

Reporting Person: Zaucha Laurie L. (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-06	Common Stock	S	172	$56.97	Disposed	32906	Direct
2017-07-06	Common Stock	S	2712	$57.42	Disposed	30194	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$31.63	2021-07-06	Common Stock (39500)	39500	Direct
Stock Option	$31.65	2022-07-10	Common Stock (7854)	7854	Direct
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

Footnotes

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