DELUXE CORP — Director's Dealing 2012

Jul 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2012-07-30

Reporting Person: Peterson Terry D (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-30	Common Stock	M	5500	$9.73	Acquired	25649	Direct
2012-07-30	Common Stock	M	22345	$18.28	Acquired	47994	Direct
2012-07-30	Common Stock	F	20149	$28.16	Disposed	27845	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-30	Common Stock Option	$9.73	M	5500	Disposed	2016-02-18	Common Stock (5500)	Direct
2012-07-30	Common Stock Option	$18.28	M	22345	Disposed	2017-02-17	Common Stock (22345)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2013-01-25	Common Stock (7606)	7606	Direct
Restricted Stock Units	$0	2014-01-24	Common Stock (7795)	7795	Direct
Common Stock Option	$26.58	2013-02-14	Common Stock (10800)	10800	Direct
Common Stock Option	$32.65	2014-02-13	Common Stock (15400)	15400	Direct
Common Stock Option	$22.52	2015-02-20	Common Stock (11700)	11700	Direct
Common Stock Option	$25.59	2018-02-16	Common Stock (34300)	34300	Direct
Common Stock Option	$25.45	2019-02-16	Common Stock (33500)	33500	Direct

Footnotes

F1: Restricted Stock Units were awarded on 1/25/2011 under the Company's Stock Incentive Plan. The units will vest and be converted into common stock on the second anniversary of the date of grant if, subject to certain exceptions, the holder remains in the employ of the Company through such date. Award results from an advance election by executive to receive a portion of his/her 2010 incentive compensation in restricted stock units in lieu of cash.

F2: Restricted Stock Units were awarded on 1/24/2012 under the Company's Stock Incentive Plan. The units will vest and be converted into common stock on the second anniversary of the date of grant if, subject to certain exceptions, the holder remains in the employ of the Company through such date. Award results from an advance election by executive to receive a portion of his/her 2011 incentive compensation in restricted stock units in lieu of cash.

F3: Options vest in three equal installments on the three succeeding anniversary dates of the date of grant, provided the holder remains an employee of the Company. Date entered reflects date on which first installment vests(ed).