PAYCHEX INC — Director's Dealing 2018

Jul 10, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2018-07-06

Reporting Person: Zaucha Laurie L. (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-06	Common Stock	S	2533	$69.79	Disposed	33827	Direct
2018-07-09	Common Stock	M	14826	$38.48	Acquired	48653	Direct
2018-07-09	Common Stock	S	14826	$69.88	Disposed	33827	Direct
2018-07-09	Common Stock	M	15000	$41.70	Acquired	48827	Direct
2018-07-09	Common Stock	S	15000	$70.00	Disposed	33827	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-09	Stock Option	$38.48	M	14826	Disposed	2023-07-09	Common Stock (14826)	Direct
2018-07-09	Stock Option	$41.70	M	15000	Disposed	2024-07-08	Common Stock (15000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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: Disposition of shares to satisfy tax withholding obligations arising from lapse of restrictions applicable to restricted stock.

F2: Exercise pursuant to Rule 10b5-1 Trading Plan.