DELUXE CORP — Director's Dealing 2018

Feb 27, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2018-02-23

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-23	Common Stock	F	111	$73.81	Disposed	11235.59	Direct
2018-02-27	Common Stock	M	1167	$25.45	Acquired	12402.59	Direct
2018-02-27	Common Stock	M	2680	$26.31	Acquired	15082.59	Direct
2018-02-27	Common Stock	F	2413	$73.13	Disposed	12669.59	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-27	Common Stock Option	$25.45	M	1167	Disposed	2019-02-16	Common Stock (1167)	Direct
2018-02-27	Common Stock Option	$26.31	M	2680	Disposed	2019-07-16	Common Stock (2680)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2019-01-24	Common Stock (708)	708	Direct
Restricted Stock Units	$0	2020-01-19	Common Stock (715)	715	Direct
Common Stock Option	$38.80	2020-02-20	Common Stock (6800)	6800	Direct
Common Stock Option	$50.32	2021-02-27	Common Stock (3866)	3866	Direct
Common Stock Option	$67.08	2022-02-12	Common Stock (3208)	3208	Direct
Common Stock Option	$54.30	2023-02-17	Common Stock (6362)	6362	Direct
Common Stock Option	$75.61	2024-02-23	Common Stock (3885)	3885	Direct
Common Stock Option	$73.21	2025-02-21	Common Stock (4793)	4793	Direct

Footnotes

F1: Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting of restricted stock.

F2: Total ownership includes 2,627 shares of restricted stock.

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: Restricted Stock Units were awarded on 1/19/18 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 2017 annual incentive compensation in restricted stock units in lieu of cash.

F5: 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).