PAYCHEX INC - Director's Dealing 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2018-07-11

Reporting Person: Schaeffer Stephanie L (CLO, Secretary)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-11	Common Stock	A	1329	$0.00	Acquired	44881	Direct
2018-07-11	Common Stock	A	3523	$0.00	Acquired	48404	Direct
2018-07-12	Common Stock	S	258	$70.37	Disposed	48146	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-11	Stock Option	$69.54	A	15826	Acquired	2028-07-10	Common Stock (15826)	Direct

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$26.02	2020-07-06	Common Stock (14893)	14893	Direct
Stock Option	$31.34	2021-07-05	Common Stock (22156)	22156	Direct
Stock Option	$31.63	2021-07-06	Common Stock (63000)	63000	Direct
Stock Option	$31.65	2022-07-10	Common Stock (29450)	29450	Direct
Stock Option	$38.48	2023-07-09	Common Stock (26956)	26956	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

F1: Award of restricted stock, subject to vesting, pursuant to the Amended and Restated 2002 Stock Incentive Plan.

F2: Award of restricted stock, subject to vesting, pursuant to the performance award under the Amended and Restated 2002 Stock Incentive Plan.

F3: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to restricted stock.