PAYCHEX INC — Director's Dealing 2021

May 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAYCHEX INC (PAYX)
CIK: 0000723531
Period of Report: 2021-05-06

Reporting Person: TUCCI JOSEPH M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-06	Common Stock	M	11468	$31.63	Acquired	63392	Direct
2021-05-06	Common Stock	S	11468	$100.56	Disposed	51924	Direct
2021-05-06	Common Stock	M	15052	$31.50	Acquired	66976	Direct
2021-05-06	Common Stock	S	15052	$100.56	Disposed	51924	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-06	Stock Option	$31.63	M	11468	Disposed	2021-07-06	Common Stock (11468)	Direct
2021-05-06	Stock Option	$31.50	M	15052	Disposed	2022-07-11	Common Stock (15052)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$38.89	2023-07-10	Common Stock (12156)	12156	Direct
Stock Option	$41.70	2024-07-08	Common Stock (10850)	10850	Direct
Stock Option	$47.43	2025-07-08	Common Stock (11489)	11489	Direct
Stock Option	$60.59	2026-07-06	Common Stock (10220)	10220	Direct
Stock Option	$57.20	2027-07-12	Common Stock (9615)	9615	Direct
Stock Option	$70.37	2028-07-11	Common Stock (8641)	8641	Direct
Stock Option	$85.33	2029-07-10	Common Stock (7929)	7929	Direct
Stock Option	$73.53	2030-07-14	Common Stock (5793)	5793	Direct

Footnotes

F1: Exercise of stock options approaching 10-year expiration date.