DELUXE CORP — Director's Dealing 2020

Jan 22, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2020-01-21

Reporting Person: Cotter Jeffrey Louis (CAO, SVP & General Counsel)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-21	Restricted Stock Units	$0	A	4978	Acquired	2022-01-21	Common Stock (4978)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3862	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0		Common Stock (4563)	4563	Direct
Common Stock Option	$68.62	2025-06-11	Common Stock (10196)	10196	Direct
Common Stock Option	$44.69	2029-04-01	Common Stock (32051)	32051	Direct

Footnotes

F1: Total ownership includes 1,458 shares of restricted stock.

F2: Restricted stock units awarded on 4/1/19 under the Company's Long-Term Incentive Plan, subject to the following vesting schedule: 3,356 units will vest in four equal amounts on each of the first four anniversaries of the date of grant, and 1,207 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.

F3: Restricted Stock Units were awarded on 1/21/2020 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 2019 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).

F5: 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).