Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 62

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 62
---
 total number of shares outstanding plus the total number of shares

<div align='center'>53</div>

available for future grants and shares subject to outstanding awards. The table below demonstrates the potential voting power dilution resulting from the adoption of Amendment No. 2, calculated as of February 20, 2025.

| Voting Power Dilution as of February 20, 2025                                
 Shares Available under the 2022 Stock Incentive Plan after February 20, 2025 |     | Share Count |     |    68,807 |     | Voting Power Dilution1 |  0.2 | % |
|:-----------------------------------------------------------------------------|:----|:------------|:----|----------:|:----|:-----------------------|-----:|:--|
| Additional Shares Requested — 2022 Stock Incentive Plan                      |     |             |     | 2,200,000 |     |                        |  4.9 | % |
| Stock Options Outstanding                                                    
 Weighted average exercise price: $44.02                                      
 Weighted average remaining term: 3.9 years                                   |     |             |     | 1,181,275 |     |                        |  2.6 | % |
| Restricted Stock Units Outstanding                                           |     |             |     | 1,833,963 |     |                        |  4.1 | % |
| Performance Share Units Outstanding2                                         |     |             |     |   898,519 |     |                        |  2.0 | % |
| Total                                                                        |     |             |     | 6,182,564 |     |                        | 13.8 | % |

(1) Based on 44,717,410 shares of common stock outstanding as of February 20, 2025.

(2) PSU counts in this table assume 100% of target shares will be earned, while the eventual actual percentage may range from 0% to 200%.

We believe that our historical burn rate and equity granting practices, as well as the potential dilution resulting from the adoption of Amendment No. 2, are reasonable for a company of our size in our industry. Further, the Committee expects the shares authorized under the Stock Plan, as amended by Amendment No. 2, to be sufficient to make awards of share-based compensation for one to three fiscal years, depending on a multitude of variables, including, but not limited to, future stock prices, competitive market practices for award