[Form 4] Deluxe Corporation Insider Trading Activity

Rhea-AI Filing Summary

Angela L. Brown, a director of Deluxe Corporation (DLX), reported the vesting and conversion of restricted stock units into common shares on 08/13/2025. The filing shows 6,243 restricted stock units vested and converted one-for-one into common stock at a conversion price of $0, increasing her beneficial ownership to 9,843 shares. The Form 4 was signed by an attorney-in-fact on 08/14/2025. The transaction reflects compensation-related equity vesting rather than an open-market purchase or sale.

Positive

• Director alignment: 6,243 RSUs vested and converted to common stock, increasing the director's ownership to 9,843 shares, which aligns interests with shareholders.
• Transparent disclosure: The transaction was reported on Form 4 with signature by an authorized attorney-in-fact, meeting SEC reporting requirements.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received 6,243 shares from RSU vesting, modestly increasing insider ownership, a routine compensation event with limited market impact.

This filing documents the one-for-one conversion of restricted stock units into 6,243 common shares, increasing the reporting person's total to 9,843 shares. Because the shares were issued as vested compensation at a $0 conversion price, this is a non-cash, administrative ownership increase rather than a market transaction. The size of the grant is small relative to typical market-capitalization effects and does not indicate buying or selling pressure.

Corporate Governance Expert

TL;DR: Routine equity compensation vesting for a director; aligns executive incentives but is not material to investors on its own.

The Form 4 discloses a standard vesting and conversion of restricted stock units awarded previously. Such conversions are common governance practices to align director interests with shareholders. The filing provides transparency on post-transaction beneficial ownership (9,843 shares) and was executed by an authorized attorney-in-fact, which is consistent with procedural norms.

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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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)
08/13/2025

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	08/13/2025		M		6,243	A	$0	9,843	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	08/13/2025		M			6,243	08/13/2025(1)	08/13/2025	Common Stock	6,243	$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.

Remarks:

.

	/s/ Kortney Q. Nordrum, Attorney in Fact	08/14/2025
	** 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 transaction did Angela L. Brown report for Deluxe Corporation (DLX)?

The Form 4 reports the vesting and one-for-one conversion of 6,243 restricted stock units into common stock on 08/13/2025.

How many shares does Angela L. Brown beneficially own after the transaction (DLX)?

Following the reported conversion, the filing shows she beneficially owns 9,843 shares.

Was this a market purchase or sale for DLX stock?

No. The filing indicates a vesting/conversion of RSUs at a conversion price of $0, not an open-market trade.

When was the Form 4 signed and filed for this DLX transaction?

The signature on the filing is dated 08/14/2025, reflecting the reporting of the 08/13/2025 vesting event.

Does the Form 4 indicate any other compensatory or derivative transactions for DLX?

The filing only discloses the conversion of 6,243 RSUs into common stock and lists no other derivative or market transactions.