DELUXE CORP — Director's Dealing 2015

Oct 30, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2015-10-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-10-28	Common Stock	S	6440	$60.01	Disposed	24344	Direct
2015-10-28	Common Stock	M	27100	$25.59	Acquired	51444	Direct
2015-10-28	Common Stock	F	19000	$60.51	Disposed	32444	Direct
2015-10-29	Common Stock	S	8100	$60.03	Disposed	24344	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-10-28	Common Stock Option	$25.59	M	27100	Disposed	2018-02-16	Common Stock (27100)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2016-01-21	Common Stock (1054)	1054	Direct
Restricted Stock Units	$0	2017-01-20	Common Stock (2145)	2145	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
Common Stock Option	$67.08	2022-02-12	Common Stock (8020)	8020	Direct

Footnotes

F1: The shares were sold in multiple transactions at prices ranging from $60.00 to $60.05. 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.

F2: The shares were sold in multiple transactions at prices ranging from $60.00 to $60.08. 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: Total ownership includes 4,344 shares of restricted stock.

F4: Restricted Stock Units were awarded on 1/21/2014 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 2013 annual incentive compensation in restricted stock units in lieu of cash.

F5: Restricted Stock Units were awarded on 1/20/2015 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 2014 annual incentive compensation in restricted stock units in lieu of cash.

F6: 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).