[Form 4] DELUXE CORP Insider Trading Activity

Rhea-AI Filing Summary

Angela L. Brown, a director of Deluxe Corp (DLX), acquired 1,399 shares of Deluxe common stock on 09/15/2025 at a reported price of $19.65 per share. The filing states these shares were received in lieu of director fees under the Company's Non-Employee Director Stock and Deferral Plan. After the reported transaction, Ms. Brown beneficially owned 11,242 shares. The Form 4 was signed by an attorney-in-fact and filed following the transaction.

Positive

• Director increased equity ownership by receiving 1,399 shares, which can align management interests with shareholders
• Transaction completed under the company plan, indicating the shares were issued as compensation rather than opportunistic market purchases

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation converted to equity, modestly increasing insider alignment with shareholders.

This Form 4 reports a standard equity grant conversion for a non-employee director into 1,399 shares, per the company stock and deferral plan. Such transactions are common mechanisms to align directors with shareholder interests because compensation is taken in equity rather than cash. The resulting stake of 11,242 shares remains relatively small in absolute terms and does not indicate a change in control or strategic direction. Filing was executed by an attorney-in-fact, which is typical for administrative processing.

Securities Analyst

TL;DR: Transaction is a routine non-cash director compensation event with immaterial market impact.

The acquisition of 1,399 shares at $19.65 reflects payment election under the Non-Employee Director Stock and Deferral Plan rather than an open-market purchase. Because the transaction arises from compensation and the ownership post-transaction is 11,242 shares, this disclosure is informational and unlikely to affect DLX valuation or liquidity. No derivative transactions or dispositions were reported.

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
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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^*

Brown Angela L

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		A		1,399(1)	A	$19.65	11,242	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

Explanation of Responses:

1. Securities acquired consist of common stock received in lieu of director's fees pursuant to the Company's Non-Employee Director Stock and Deferral Plan.

Remarks:

	/s/ Kortney Q. Nordrum, Attorney in Fact	09/17/2025
	** 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 Angela L. Brown report on the DLX Form 4?

She reported acquiring 1,399 shares of Deluxe common stock on 09/15/2025 at a price of $19.65 per share.

Why were the 1,399 shares issued to Angela L. Brown?

The filing states the shares were received in lieu of director's fees under the Company's Non-Employee Director Stock and Deferral Plan.

How many Deluxe shares does Angela L. Brown own after the transaction?

The Form 4 reports she beneficially owned 11,242 shares following the reported transaction.

Was this a market purchase or compensation issuance?

The Form 4 indicates the shares were issued as compensation pursuant to the director stock and deferral plan, not an open-market purchase.

Who signed and filed the Form 4?

The form was signed by Kortney Q. Nordrum, Attorney in Fact on 09/17/2025.