DELUXE CORP — Director's Dealing 2013

Jan 29, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2013-01-25

Reporting Person: Peterson Terry D (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-25	Common Stock	M	7606	—	Acquired	34979	Direct
2013-01-25	Common Stock	F	2673	$36.31	Disposed	32306	Direct
2013-01-28	Common Stock	M	15400	$32.65	Acquired	47706	Direct
2013-01-28	Common Stock	M	4073	$25.59	Acquired	51779	Direct
2013-01-28	Common Stock	F	17119	$38.12	Disposed	34660	Direct
2013-01-29	Common Stock	S	10000	$37.98	Disposed	24660	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-25	Restricted Stock Units	$0	M	7606	Disposed	2013-01-25	Common Stock (7606)	Direct
2013-01-28	Common Stock Option	$32.65	M	15400	Disposed	2014-02-13	Common Stock (15400)	Direct
2013-01-28	Common Stock Option	$25.59	M	4073	Disposed	2018-02-16	Common Stock (4073)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2014-01-24	Common Stock (7795)	7795	Direct
Restricted Stock Units	$0	2015-01-22	Common Stock (8456)	8456	Direct
Common Stock Option	$18.28	2017-02-17	Common Stock (13300)	13300	Direct
Common Stock Option	$25.45	2019-02-16	Common Stock (33500)	33500	Direct

Footnotes

F1: Vesting and conversion into shares on a one-for-one basis of restricted stock units awarded on 1/25/2011 under the Company's Stock Incentive Plan. Award of units resulted from an election by executive to receive a portion of their 2010 incentive compensation in restricted stock units in lieu of cash.

F2: 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 selling range.

F3: 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 their 2011 annual incentive compensation in restricted stock units in lieu of cash.

F4: Restricted Stock Units were awarded on 1/22/2013 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 their 2012 annual incentive compensation in restricted stock units in lieu of cash.

F5: 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).