DELUXE CORP — Director's Dealing 2012

Feb 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2012-02-16

Reporting Person: Radewald Laura L. (Vice President, Brand)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-16	Common Stock Option	$25.45	A	8800	Acquired	2019-02-16	Common Stock (8800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2922	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$22.52	2015-02-20	Common Stock (4600)	4600	Direct
Common Stock Option	$17.35	2015-09-03	Common Stock (1700)	1700	Direct
Common Stock Option	$9.73	2016-02-18	Common Stock (14020)	14020	Direct
Common Stock Option	$18.28	2017-02-17	Common Stock (13300)	13300	Direct
Common Stock Option	$25.59	2018-02-16	Common Stock (10800)	10800	Direct

Footnotes

F1: 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).