DLX executive converts 20,572 RSUs, sells 9,163 shares to cover taxes at $19.33

Rhea-AI Filing Summary

John F. Rubinetti III, SVP and President B2B Payments of Deluxe Corporation (DLX), reported transactions on 08/15/2025 reflecting the vesting and conversion of 20,572 restricted stock units (RSUs) into common shares on a one-for-one basis. After the transactions he directly beneficially owns 20,572 shares.

The filing also shows a tax-withholding disposition of 9,163 shares sold at $19.33 to satisfy tax liabilities, leaving 11,409 shares directly owned after withholding. Transactions were reported via Form 4 and executed under standard vesting and withholding mechanics.

Insights

Financial Analyst

TL;DR: Insider vested 20,572 RSUs and sold 9,163 shares to cover taxes; routine compensation-related disclosure with neutral market impact.

The filing documents the conversion of RSUs into 20,572 shares and the withholding sale of 9,163 shares at $19.33 to meet tax obligations. This is a standard executive compensation event rather than an open-market sale for liquidity or a signal of changing control. The net increase in direct ownership post-transaction is 11,409 shares, which is immaterial relative to typical outstanding share counts for a public company and unlikely to affect market valuation.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 reporting requirements; shows expected post-vesting ownership and tax withholding, no governance red flags.

The submission, signed by an attorney-in-fact, correctly reports vesting and conversion events and the associated share withholding to cover taxes. The structure and timing are consistent with pre-established compensation arrangements and the 10b5-1/insider trading compliance framework is not indicated as invoked. No departures from standard governance or reporting practices are evident in the disclosed transactions.

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

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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^*

Rubinetti John F III

(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, President B2B Payments

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		20,572	A	$0(1)	20,572	D
Common Stock	08/15/2025		F		9,163	D	$19.33(2)	11,409	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	08/15/2025		M			20,572	08/15/2025(1)	08/15/2026	Common Stock	20,572	$0	20,572	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.

Remarks:

	/s/ Kortney Q. Nordrum, Attorney in Fact	08/18/2025
	** 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 transactions did John F. Rubinetti III report on Form 4 for DLX?

He reported the vesting and conversion of 20,572 RSUs into 20,572 common shares on 08/15/2025, and the withholding sale of 9,163 shares to satisfy taxes.

How many Deluxe (DLX) shares does the reporting person own after the transaction?

After the transactions and withholding, the reporting person directly owns 11,409 shares.

At what price were shares withheld to cover taxes in the DLX Form 4?

Shares were withheld/disposed at a price of $19.33 per share to satisfy tax liabilities.

When did the RSUs vest and convert for the DLX insider filing?

The RSUs vested and converted into common stock on 08/15/2025.

Who signed the Form 4 filing for the DLX insider transaction?

The Form 4 was signed by Kortney Q. Nordrum, Attorney in Fact on behalf of the reporting person on 08/18/2025.