Deluxe Corp (DLX) SVP granted RSUs and performance shares with tax withholding

Q: Over what period do Jeffrey Louis Cotter’s Deluxe Corp RSUs vest?

The 22,124 restricted stock units vest over three years. Vesting occurs in equal one-third increments on the first, second, and third anniversaries of the 02/09/2026 grant date, assuming continued employment through each vesting date.

Q: Why were some Deluxe Corp shares withheld in Jeffrey Louis Cotter’s Form 4?

13,972 shares were withheld to satisfy tax liabilities. The filing explains that shares were withheld to cover taxes associated with the vesting and granting of performance share units, rather than being sold in an open-market transaction.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Deluxe Corp executive Jeffrey Louis Cotter reported equity awards and related tax withholding transactions. On 02/09/2026, he acquired 27,871 shares of common stock at $27.8 per share upon settlement of performance share units tied to specific performance targets, and had 13,972 shares withheld at $27.8 per share to cover tax liabilities.

He was also granted 22,124 restricted stock units at an exercise price of $0, with an underlying common stock value reference of $27.12 per share, vesting in three equal annual installments from 02/09/2027 through 02/09/2029, subject to continued employment. Following these transactions, Cotter directly owned 55,077 shares of Deluxe Corp common stock and 22,124 restricted stock units.

Insider Trade Summary

Net Buyer: 13,899 shares

Net Buy 3 txns

Insider Cotter Jeffrey Louis

Role SVP, CAO and General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	22,124	$27.12	$600K
Grant/Award	Common Stock	27,871	$27.80	$775K
Exercise Price or Tax Liability	Common Stock	13,972	$27.80	$388K

Holdings After Transaction: Restricted Stock Unit — 22,124 shares (Direct); Common Stock — 55,077 shares (Direct)

Footnotes (3)

F1. Reflects shares issued in connection with the settlement of performance share units that were determined to vest based on the level of achievement of the specified performance targets.
F2. Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting and granting of performance share units.
F3. Restricted stock units granted under the Company's Stock Incentive Plan that vest in equal one-third increments on the first three anniversaries of 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.

FAQ

What insider transactions did DLX executive Jeffrey Louis Cotter report?

Jeffrey Louis Cotter reported equity awards and tax-related share withholding. He received common shares from performance share unit vesting and a new restricted stock unit grant, while some shares were withheld to satisfy tax liabilities arising from these awards.

How many Deluxe Corp (DLX) shares did Jeffrey Louis Cotter acquire and dispose of?

Cotter acquired 27,871 common shares and had 13,972 shares withheld. The acquisition came from vested performance share units, while the withheld shares covered tax obligations tied to vesting and granting of performance-based equity awards.

What restricted stock units were granted to the DLX SVP, CAO and General Counsel?

Cotter was granted 22,124 restricted stock units at an exercise price of $0. These units convert into common stock and vest in three equal annual installments, contingent on continued employment and subject to the company’s stock incentive plan terms.

Over what period do Jeffrey Louis Cotter’s Deluxe Corp RSUs vest?

The 22,124 restricted stock units vest over three years. Vesting occurs in equal one-third increments on the first, second, and third anniversaries of the 02/09/2026 grant date, assuming continued employment through each vesting date.

How many Deluxe Corp shares does Jeffrey Louis Cotter own after these transactions?

After the reported transactions, Cotter directly owns 55,077 common shares. In addition, he holds 22,124 restricted stock units that will convert into common shares upon vesting under the company’s stock incentive plan.

Why were some Deluxe Corp shares withheld in Jeffrey Louis Cotter’s Form 4?

13,972 shares were withheld to satisfy tax liabilities. The filing explains that shares were withheld to cover taxes associated with the vesting and granting of performance share units, rather than being sold in an open-market transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/11/2026 - 03:25 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cotter Jeffrey Louis

(Last)

(First)

(Middle)

801 MARQUETTE AVE. S.

(Street)

MINNEAPOLIS

55402

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DELUXE CORP [ DLX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, CAO and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/09/2026		A		27,871⁽¹⁾	A	$27.8	69,049	D
Common Stock	02/09/2026		F		13,972⁽²⁾	D	$27.8	55,077	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	$0	02/09/2026		A		22,124⁽³⁾		02/09/2027	02/09/2029	Common Stock	22,124	$27.12	22,124	D

Explanation of Responses:

1. Reflects shares issued in connection with the settlement of performance share units that were determined to vest based on the level of achievement of the specified performance targets.

2. Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting and granting of performance share units.

3. Restricted stock units granted under the Company's Stock Incentive Plan that vest in equal one-third increments on the first three anniversaries of 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.

Remarks:

	/s/ Kortney Q. Nordrum, Attorney in Fact	02/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR