Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 38

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 38
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%         |     |   420,938 |     | 70.6%       |     | $297,182 |

The amounts earned by all NEOs under the AIP for 2024 are included in the "Non-Equity Incentive Plan Compensation" column of the SCT appearing later in this Proxy Statement.

#### Long-Term Incentive Compensation
Our long-term incentive compensation utilizes our Stock Plan to provide our NEOs with equity awards that are directly linked to the value provided to our shareholders. It is designed and administered to balance and achieve several critical objectives for our executive compensation program:

• supports and rewards the achievement of our long-term business strategy and objectives;

• encourages decisions and behavior intended to increase shareholder value;

• reinforces the pay-for-performance orientation of the overall executive compensation program;

• enables us to attract and retain high-quality key executive talent by providing competitive incentive and total compensation opportunities; and

• promotes share ownership and facilitates achievement of the stock ownership guidelines.

Long-term equity incentive compensation for our NEOs generally is set at or near the median of long-term equity incentive compensation paid to executives of companies of similar size and in similar positions using the data gathered from compensation surveys and our Peer Group. All annual equity awards made to our NEOs and other recipients are targeted to be on the same annual grant date, except for awards made in conjunction with an individual's promotion or hire date, as required by board approval, or as necessary to facilitate retention of key employees. We do nottime our equity awards to take advantage of market conditions or the release of earnings or other major announcements by us.

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#### Components of Long-Term Incentive Awards
The following table describes the designs of the equity awards granted to the NEOs in 2024, consisting of a mix of PSUs and RSUs:

| Grant Type                                       |     | Vesting                                                                                                                                                                                             |     | Weight |     | Performance Metrics              |     | Purpose                                                                                                                                                                                                     |
| PSUs                                             |     | 3-year cliff                                                                                                                                                                                        |     | 50%    |     | Three-year revenue (50% of PSUs) |     | •Revenue is included because the continued secular decline in the Print business, which continues to generate a significant portion of our revenue, emphasizes the importance of increasing revenue overall 
 •Revenue acts as a primary motivator for executives, driving performance excellence and aligning their interests with the company's financial and business success                                          |
| Three-year free cash flow (50%