DELUXE CORP — Director's Dealing 2019

Apr 3, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2019-04-01

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-04-01	Restricted Stock Units	$0	A	1790	Acquired		Common Stock (1790)	Direct
2019-04-01	Common Stock Option	$44.69	A	9615	Acquired	2029-04-01	Common Stock (9615)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8267	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0	2020-01-19	Common Stock (1543)	1543	Direct
Restricted Stock Units	$0	2021-01-22	Common Stock (2563)	2563	Direct
Common Stock Option	$67.08	2022-02-12	Common Stock (1426)	1426	Direct
Common Stock Option	$54.30	2023-02-17	Common Stock (4848)	4848	Direct
Common Stock Option	$75.61	2024-02-23	Common Stock (4371)	4371	Direct
Common Stock Option	$73.21	2025-02-21	Common Stock (4314)	4314	Direct

Footnotes

F1: Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting of restricted stock. Total ownership includes 913 shares of restricted stock.

F2: 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.

F3: Restricted Stock Units were awarded on 1/22/19 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 2018 annual incentive compensation in restricted stock units in lieu of cash.

F4: Restricted stock units awarded on 4/1/19 under the Company's Long-Term Incentive Plan, subject to the following vesting schedule: 1,007 units will vest in four equal amounts on each of the first four anniversaries of the date of grant, and 783 units will vest in three equal amounts on each of the first three anniversaries of the date of grant. Upon vesting, each unit is converted into a share of common stock. Subject to certain exceptions, vesting is contingent upon continued employment.

F5: 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).

F6: Options vest in four equal installments on the four 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).