DELUXE CORP — Director's Dealing 2014

Oct 28, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2014-10-27

Reporting Person: SCHRAM LEE J (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-27	Common Stock	M	117400	$22.52	Acquired	359201	Direct
2014-10-27	Common Stock	M	66600	$18.28	Acquired	425801	Direct
2014-10-27	Common Stock	F	122334	$59.45	Disposed	303467	Direct
2014-10-28	Common Stock	S	61666	$59.72	Disposed	241801	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-10-27	Common Stock Option	$22.52	M	117400	Disposed	2015-02-20	Common Stock (117400)	Direct
2014-10-27	Common Stock Option	$18.28	M	66600	Disposed	2017-02-17	Common Stock (66600)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$25.59	2018-02-16	Common Stock (108400)	108400	Direct
Common Stock Option	$25.45	2019-02-16	Common Stock (106000)	106000	Direct
Common Stock Option	$38.80	2020-02-20	Common Stock (95800)	95800	Direct
Common Stock Option	$50.32	2021-02-27	Common Stock (64435)	64435	Direct

Footnotes

F1: The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 25, 2014.

F2: Shares were sold in multiple transactions at prices ranging from $59.50 to $60.00. The price reported is the weighted average sale price. The reporting person will provide 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.

F3: Total ownership includes 46,353 shares of restricted stock.

F4: 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).