Deluxe (DLX) SVP Cotter converts RSUs and withholds stock for taxes

Rhea-AI Filing Summary

Deluxe Corp SVP, CAO and General Counsel Jeffrey Louis Cotter reported multiple equity compensation transactions involving restricted stock units (RSUs) and common stock. On February 14–16, he exercised RSUs into common shares in several steps, including 7,937, 6,394, and 2,891 RSUs converting on a one-for-one basis into common stock at a price of $0.00 per share.

On each date, a portion of the newly vested shares, including 3,906, 3,146, and 1,423 shares, was disposed of at $26.21 per share to satisfy tax liabilities associated with vesting, as described in the footnotes. After these equity compensation and tax-withholding transactions, Cotter directly owned 63,824 shares of Deluxe common stock.

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 MN 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)
02/14/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/14/2026		M		7,937(1)	A	$0	63,014	D
Common Stock	02/14/2026		F		3,906(2)	D	$26.21	59,108	D
Common Stock	02/15/2026		M		6,394(1)	A	$0	65,502	D
Common Stock	02/15/2026		F		3,146(2)	D	$26.21	62,356	D
Common Stock	02/16/2026		M		2,891(1)	A	$0	65,247	D
Common Stock	02/16/2026		F		1,423(2)	D	$26.21	63,824	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	$0	02/14/2026		M			7,937	(3)	02/14/2027	Common Stock	7,937	$0	7,937	D
Restricted Stock Unit	$0	02/15/2026		M			6,394	(3)	02/15/2026	Common Stock	6,394	$0	0	D
Restricted Stock Unit	$0	02/16/2026		M			2,891	(4)	02/16/2026	Common Stock	2,891	$0	0	D

Explanation of Responses:

1. Transaction reflects vesting and conversion into shares on a one-for-one basis of restricted stock units previously awarded.

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

4. Restricted stock units granted under the Company's Stock Incentive Plan that vest in equal one-quarter increments on the first four 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	02/18/2026
	** 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.

FAQ

What did Deluxe Corp (DLX) executive Jeffrey Louis Cotter report on this Form 4?

Jeffrey Louis Cotter reported RSU vesting and related stock transactions. Restricted stock units converted one-for-one into Deluxe common shares over several days, followed by share dispositions to cover tax liabilities tied directly to those vesting events.

How many Deluxe (DLX) restricted stock units did Jeffrey Louis Cotter convert?

Cotter converted multiple RSU tranches into common stock, including 7,937, 6,394, and 2,891 units. Each restricted stock unit converted into one share of Deluxe common stock upon vesting under the company’s stock incentive plan, subject to continued employment conditions.

Were Jeffrey Louis Cotter’s Deluxe (DLX) transactions open-market buys or sells?

The reported transactions were RSU exercises and tax-withholding dispositions, not open-market trades. Shares were acquired at $0.00 per share through derivative conversion and some were then withheld at $26.21 per share to pay tax liabilities from the vesting events.

What price was used for Deluxe (DLX) tax-withholding share dispositions?

Shares withheld to satisfy tax obligations were reported at $26.21 per share. These tax-withholding dispositions are coded as “F,” indicating payment of exercise price or tax liability by delivering securities rather than discretionary open-market sales by the executive.

How many Deluxe (DLX) shares does Jeffrey Louis Cotter own after these transactions?

Following the RSU vesting, conversions, and related tax-withholding share dispositions, Cotter directly owned 63,824 shares of Deluxe common stock. This figure reflects his direct ownership position as reported after the last transaction date in the Form 4 filing.

How do the Deluxe (DLX) RSUs reported by Jeffrey Louis Cotter vest over time?

The RSUs vest in equal annual installments over three or four years, depending on grant. Footnotes explain that some awards vest in one-third increments over three years and others in one-quarter increments over four years, with vesting contingent on continued employment.