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.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 8,747 shares
Net Buy
9 txns
Insider
Cotter Jeffrey Louis
Role
SVP, CAO and General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 2,891 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,891 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 1,423 | $26.21 | $37K |
| Exercise | Restricted Stock Unit | 6,394 | $0.00 | $0.00 |
| Exercise | Common Stock | 6,394 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 3,146 | $26.21 | $82K |
| Exercise | Restricted Stock Unit | 7,937 | $0.00 | $0.00 |
| Exercise | Common Stock | 7,937 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 3,906 | $26.21 | $102K |
Holdings After Transaction:
Restricted Stock Unit — 7,937 shares (Direct);
Common Stock — 63,824 shares (Direct)
Footnotes (4)
- F1. Transaction reflects vesting and conversion into shares on a one-for-one basis of restricted stock units previously awarded.
- F2. Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting of restricted stock 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.
- F4. 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.
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
