DELUXE CORP — Director's Dealing 2012

Mar 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2012-03-15

Reporting Person: Nachtsheim Stephen P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-15	Common Stock	J	681	$24.26	Acquired	41826	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3582	Indirect
Common Stock	5500	Indirect
Common Stock	5500	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$39.63	2012-04-27	Common Stock (1000)	1000	Direct

Footnotes

F1: Securities acquired represent restricted stock units received in lieu of directors' fees pursuant to the Company's Non-Employee Director Stock and Deferral Plan. These units will convert to shares of Common Stock on deferred dates specified by the director. Total direct ownership reported in column 5 includes 2,958 shares of restricted stock and 14,378 restricted stock units.

F2: Options vest in three equal installments on the three succeeding anniversary dates of the date of grant, provided the holder remains a director of the Company. Date entered reflects date on which first installment vested.