DELUXE CORP — Director's Dealing 2016

May 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2016-05-10

Reporting Person: Loosbrock Julie M (Sr. V.P., Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-10	Common Stock	M	6800	$38.80	Acquired	24458	Direct
2016-05-10	Common Stock	M	3006	$50.32	Acquired	27464	Direct
2016-05-10	Common Stock	F	7576	$64.41	Disposed	19888	Direct
2016-05-11	Common Stock	S	2230	$63.75	Disposed	17658	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-10	Common Stock Option	$38.80	M	6800	Disposed	2020-02-20	Common Stock (6800)	Direct
2016-05-10	Common Stock Option	$50.32	M	3006	Disposed	2021-02-27	Common Stock (3006)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2017-01-20	Common Stock (400)	400	Direct
Restricted Stock Units	$0	2018-01-25	Common Stock (739)	739	Direct
Common Stock Option	$67.08	2022-02-12	Common Stock (4812)	4812	Direct
Common Stock Option	$54.30	2023-02-17	Common Stock (9997)	9997	Direct

Footnotes

F1: Total ownership includes 3,961 shares of restricted stock.

F2: Restricted Stock Units were awarded on 1/20/15 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.

F3: Restricted Stock Units were awarded on 1/25/16 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 2015 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 the date of grant, provided the holder remains an employee of the Company. Date entered reflects date on which first installment vests(ed).