DELUXE CORP — Director's Dealing 2014

Mar 11, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2014-03-07

Reporting Person: SCARFONE ANTHONY C (Sr. VP, General Counsel & Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-04	Common Stock	G	175	—	Disposed	32975	Direct
2014-03-07	Common Stock	M	13500	$22.52	Acquired	46475	Direct
2014-03-07	Common Stock	F	8408	$52.14	Disposed	38067	Direct
2014-03-10	Common Stock	S	5100	$52.39	Disposed	32967	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-07	Common Stock Option	$22.52	M	13500	Disposed	2015-02-20	Common Stock (13500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2015-01-22	Common Stock (1866)	1866	Direct
Restricted Stock Units	$0	2016-01-21	Common Stock (1054)	1054	Direct
Common Stock Option	$18.28	2017-02-17	Common Stock (31000)	31000	Direct
Common Stock Option	$25.59	2018-02-16	Common Stock (27100)	27100	Direct
Common Stock Option	$25.45	2019-02-16	Common Stock (26500)	26500	Direct
Common Stock Option	$38.80	2020-02-20	Common Stock (17100)	17100	Direct
Common Stock Option	$50.32	2021-02-27	Common Stock (9665)	9665	Direct

Footnotes

F1: Total ownership includes 2,482 shares of restricted stock.

F2: 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.

F3: Restricted Stock Units were awarded on 1/21/2014 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 2013 annual incentive compensation in restricted stock units in lieu of cash.

F4: Options vest in three equal installments on the three succeeding anniversary dates of grant, provided the holder remains in the employ of the Company. Date entered reflects date on which first installment vests(ed).