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: 2016-12-28

Reporting Person: MUCCI MARTIN (Director, CEO & President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-28	Common Stock	G	2940	$61.65	Disposed	254618	Direct
2017-07-06	Common Stock	S	1772	$56.97	Disposed	252846	Direct
2017-07-09	Common Stock	S	31522	$57.42	Disposed	221324	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4159	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$43.91	2017-07-17	Common Stock (30000)	30000	Direct
Stock Option	$26.02	2020-07-06	Common Stock (29786)	29786	Direct
Stock Option	$31.34	2021-07-05	Common Stock (206422)	206422	Direct
Stock Option	$31.63	2021-07-06	Common Stock (315000)	315000	Direct
Stock Option	$31.65	2022-07-10	Common Stock (274869)	274869	Direct
Stock Option	$38.48	2023-07-09	Common Stock (237844)	237844	Direct
Stock Option	$41.70	2024-07-08	Common Stock (195313)	195313	Direct
Stock Option	$47.32	2025-07-07	Common Stock (206801)	206801	Direct
Stock Option	$60.84	2026-07-05	Common Stock (208590)	208590	Direct
Stock Option	$60.84	2026-07-05	Common Stock (294812)	294812	Direct

Footnotes

F1: Shares gifted to a donor advised fund.

F2: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to restricted stock.

F3: 401(k) balance as of June 1, 2017.