DELUXE CORP — Director's Dealing 2012

Nov 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2012-11-20

Reporting Person: SCARFONE ANTHONY C (Sr. VP, General Counsel & Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-20	Common Stock	M	38600	$9.73	Acquired	77995	Direct
2012-11-20	Common Stock	F	23033	$29.97	Disposed	54962	Direct
2012-11-21	Common Stock	S	14856	$29.16	Disposed	40106	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-20	Common Stock Option	$9.73	M	38600	Disposed	2016-02-18	Common Stock (38600)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$32.65	2014-02-13	Common Stock (45000)	45000	Direct
Common Stock Option	$22.52	2015-02-20	Common Stock (27400)	27400	Direct
Common Stock Option	$18.28	2017-02-17	Common Stock (31000)	31000	Direct
Common Stock Option	$25.59	2018-02-16	Common Stock (27100)	27100	Direct
Common Stock Option	$25.45	2019-02-16	Common Stock (26500)	26500	Direct

Footnotes

F1: These shares were sold in multiple transactions at prices ranging from $29.02 to $30.00. The price reported is the weighted average sale price. The reporting person will provide to the issuer, a security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range.

F2: Options vest in three equal installments on the three succeeding anniversary dates of grant, provided the holder remains in the employ of the Company. Date entered reflects date on which first installment vests(ed).