Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 33

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 33
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    Approved 
 Base Salary 
         ($) |     |        2024 
    Approved 
 Base Salary 
         ($) |     | Increase 
 (%)      |
| Barry C. McCarthy    |     |     950,000 |     |     950,000 |     | 0%       |
| William C. Zint      |     |     500,000 |     |     600,000 |     | 20%      |
| Tracey G. Engelhardt |     |     600,000 |     |     620,000 |     | 3.3%     |
| Yogaraj Jeyaprakasam |     |     575,000 |     |     590,000 |     | 2.6%     |
| Jeffrey L. Cotter    |     |     550,000 |     |     565,000 |     | 2.7%     |

Mr. McCarthy’s 2024 base salary was unchanged from 2023. Mr. Zint’s base salary increased to $600,000 in 2024, from $500,000 in 2023, reflecting the Committee's recognition of his ongoing development in his CFO role and that his salary was previously below the competitive market range. The base salaries for Ms. Engelhardt and Messrs. Cotter and Jeyaprakasam were increased based on our review of competitive pay levels, and the level of increase matched those generally provided to other company employees in 2024.

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#### Annual Incentive Plan
Our AIP serves to align NEO compensation with company performance, shareholder interests, and strategic objectives. The plan is designed to reward executives for achieving specific financial and strategic goals, thereby motivating and retaining highly qualified individuals. Payouts earned by the NEOs are determined based on overall company performance against predetermined metrics approved by the Committee at the outset of the year, as well as the performance of business segments for our segment Presidents.

#### 2024 AIP Metrics and Rationale
The Committee believes that a combined formulaic and qualitative approach to annual incentives aligns executive compensation with company performance and shareholder interests. This approach ensures that incentives are based on measurable and consistent criteria, including financial performance metrics and strategic goals, while simultaneously serving to motivate executives to achieve key business objectives, drive company growth and profitability, and create long-term shareholder value. The table below describes why the Committee chose each of the 2024 A