FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MUCCI MARTIN
   2. Issuer Name and Ticker or Trading Symbol
PAYCHEX INC [PAYX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
911 PANORAMA TRAIL S.		 3. Date of Earliest Transaction (Month/Day/Year)
12/27/2021
(Street)

ROCHESTER, NY 14625		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/27/2021   M   150,000 A $ 38.48 592,166 D  
Common Stock 12/27/2021   S   150,000 D $ 134.31 442,166 D  
Common Stock               4,635 I 401(k)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 38.48 12/27/2021   M     150,000 07/10/2014 07/09/2023 Common Stock 150,000 $ 0 0 D  
Stock Option $ 41.7             07/09/2015 07/08/2024 Common Stock 195,313   195,313 D  
Stock Option $ 47.32             07/08/2016 07/07/2025 Common Stock 206,801   206,801 D  
Stock Option $ 60.84             07/06/2017 07/05/2026 Common Stock 208,590   208,590 D  
Stock Option $ 60.84             07/06/2017 07/05/2026 Common Stock 226,636   226,636 D  
Stock Option $ 57.24             07/12/2018 07/11/2027 Common Stock 214,482   214,482 D  
Stock Option $ 69.54             07/11/2019 07/10/2028 Common Stock 179,191   179,191 D  
Stock Option $ 85.46             07/10/2020 07/09/2029 Common Stock 195,228   195,228 D  
Stock Option $ 73.53             07/15/2021 07/14/2030 Common Stock 195,428   195,428 D  
Stock Option $ 112.67             07/15/2022 07/14/2031 Common Stock 108,086   108,086 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MUCCI MARTIN
911 PANORAMA TRAIL S.
ROCHESTER, NY 14625		   X     Chairman and CEO  

Signatures

 Stephanie L. Schaeffer, Attorney-in-fact   12/28/2021
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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