PAYCHEX INC — Director's Dealing 2017

Apr 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2016-12-23

Reporting Person: Bottini Mark Anthony (Sr. VP of Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-23	Common Stock	J	1625	$61.50	Disposed	47007	Direct
2017-04-27	Common Stock	M	35000	$28.06	Acquired	82007	Direct
2017-04-27	Common Stock	S	35000	$60.01	Disposed	47007	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-27	Stock Option	$28.06	M	35000	Disposed	2021-10-17	Common Stock (35000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	674	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$28.06	2021-10-17	Common Stock (35063)	35063	Direct
Stock Option	$31.65	2022-07-10	Common Stock (58901)	58901	Direct
Stock Option	$38.48	2023-07-09	Common Stock (53911)	53911	Direct
Stock Option	$41.70	2024-07-08	Common Stock (44271)	44271	Direct
Stock Option	$47.32	2025-07-07	Common Stock (46875)	46875	Direct
Stock Option	$60.84	2026-07-05	Common Stock (43760)	43760	Direct
Stock Option	$60.84	2026-07-05	Common Stock (147405)	147405	Direct

Footnotes

F1: Shares were gifted to the Bottini Family Fund.