PAYCHEX INC — Director's Dealing 2020

Jul 14, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2020-07-10

Reporting Person: RIVERA EFRAIN (Sr. Vice President, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-21	Common Stock	G	1425	$85.75	Disposed	60767	Direct
2020-07-10	Common Stock	A	13880	$0.00	Acquired	74647	Direct
2020-07-10	Common Stock	S	18998	$73.30	Disposed	55649	Direct
2020-07-11	Common Stock	A	15503	$0.00	Acquired	71152	Direct
2020-07-13	Common Stock	M	44381	$31.34	Acquired	115533	Direct
2020-07-13	Common Stock	S	44381	$73.36	Disposed	71152	Direct
2020-07-13	Common Stock	M	157500	$31.63	Acquired	228652	Direct
2020-07-13	Common Stock	S	157500	$73.36	Disposed	71152	Direct
2020-07-13	Common Stock	M	53911	$38.48	Acquired	125063	Direct
2020-07-13	Common Stock	S	53911	$73.36	Disposed	71152	Direct
2020-07-13	Common Stock	M	44271	$41.70	Acquired	115423	Direct
2020-07-13	Common Stock	S	44271	$73.36	Disposed	71152	Direct
2020-07-13	Common Stock	M	18393	$47.32	Acquired	89545	Direct
2020-07-13	Common Stock	S	18393	$73.36	Disposed	71152	Direct
2020-07-13	Common Stock	M	58901	$31.65	Acquired	130053	Direct
2020-07-13	Common Stock	S	58901	$73.36	Disposed	71152	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-13	Stock Option	$31.34	M	44381	Disposed	2021-07-05	Common Stock (44481)	Direct
2020-07-13	Stock Option	$31.63	M	157500	Disposed	2021-07-06	Common Stock (157500)	Direct
2020-07-13	Stock Option	$31.65	M	58901	Disposed	2022-07-10	Common Stock (58901)	Direct
2020-07-13	Stock Option	$38.48	M	53911	Disposed	2023-07-09	Common Stock (53911)	Direct
2020-07-13	Stock Option	$41.70	M	44271	Disposed	2024-07-08	Common Stock (44271)	Direct
2020-07-13	Stock Option	$47.32	M	18393	Disposed	2025-07-07	Common Stock (18393)	Direct
2020-07-10	Stock Option	$60.84	J	34087	Disposed	2026-07-05	Common Stock (34087)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$60.84	2026-07-05	Common Stock (48622)	48622	Direct
Stock Option	$57.24	2027-07-11	Common Stock (54878)	54878	Direct
Stock Option	$69.54	2028-07-10	Common Stock (42204)	42204	Direct
Stock Option	$85.46	2029-07-09	Common Stock (43926)	43926	Direct

Footnotes

F1: Shares were gifted to The Rivera Charitable Fund.

F2: Grant of restricted stock from the 2016 LTIP award, based on achievement of multi-year performance metrics, pursuant to 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.

F4: Award of restricted stock, subject to vesting, pursuant to the performance award under the Amended and Restated 2002 Stock Incentive Plan.

F5: Updated balance reflects cancellation of unvested options following Performance Period.