DELUXE CORP — Director's Dealing 2017

Mar 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2017-02-28

Reporting Person: Mathews Michael S (Vice President, CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-28	Common Stock	M	8968	$37.45	Acquired	17945	Direct
2017-02-28	Common Stock	M	5155	$50.32	Acquired	23100	Direct
2017-02-28	Common Stock	M	2851	$67.08	Acquired	25951	Direct
2017-02-28	Common Stock	M	2423	$54.30	Acquired	28374	Direct
2017-02-28	Common Stock	F	14562	$75.05	Disposed	13812	Direct
2017-02-28	Common Stock	S	4835	$75.05	Disposed	8977	Direct
2017-02-28	Common Stock	S	3205	$75.05	Disposed	5772	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-28	Common Stock Option	$37.45	M	8968	Disposed	2020-05-06	Common Stock (8968)	Direct
2017-02-28	Common Stock Option	$50.32	M	5155	Disposed	2021-02-27	Common Stock (5155)	Direct
2017-02-28	Common Stock Option	$67.08	M	2851	Disposed	2022-02-12	Common Stock (2851)	Direct
2017-02-28	Common Stock Option	$54.30	M	2423	Disposed	2023-02-17	Common Stock (2423)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2018-01-25	Common Stock (2712)	2712	Direct
Restricted Stock Units	$0	2019-01-24	Common Stock (1587)	1587	Direct
Common Stock Option	$75.61	2024-02-23	Common Stock (4371)	4371	Direct

Footnotes

F1: Total ownership includes 3,113 shares of restricted stock.

F2: 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.

F3: Restricted Stock Units were awarded on 1/24/17 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 2016 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).