DELUXE CORP — Director's Dealing 2014

Mar 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2014-02-27

Reporting Person: Engelhardt Tracey G (VP, Direct-to-Consumer Segment)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-27	Common Stock	A	993	—	Acquired	5704.59	Direct
2014-02-28	Common Stock	M	1167	$25.45	Acquired	6871.59	Direct
2014-02-28	Common Stock	M	1034	$25.59	Acquired	7905.59	Direct
2014-02-28	Common Stock	F	1476	$50.48	Disposed	6429.59	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-28	Common Stock Option	$25.59	M	1034	Disposed	2018-02-16	Common Stock (1034)	Direct
2014-02-28	Common Stock Option	$25.45	M	1167	Disposed	2019-02-16	Common Stock (1167)	Direct
2014-02-27	Common Stock Option	$50.32	A	3866	Acquired	2021-02-27	Common Stock (3866)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2015-01-22	Common Stock (673)	673	Direct
Common Stock Option	$26.31	2019-07-16	Common Stock (2680)	2680	Direct
Common Stock Option	$38.80	2020-02-20	Common Stock (6800)	6800	Direct

Footnotes

F1: Total ownership includes 993 shares of restricted stock, 327 shares of common stock purchased under the Company's Employee Stock Purchase Plan (ESPP) on 7/31/2013, and 296 shares purchased under the ESPP on 1/31/2014.

F2: Restricted Stock Units were awarded on 1/22/2013 under the Company's Long-Term 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: 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).