Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 63

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 63
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 sizes, and circumstances surrounding the attraction and retention of employee talent. If Amendment No. 2 is not approved, we expect to have insufficient shares available in the Stock Plan to meet the needs of our annual grants made to executives and employees in 2026.

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#### Key Features of the Stock Plan
The Stock Plan contains provisions considered best practices for compensation and governance purposes. Key features (as proposed to be amended by Amendment No. 2) of the Stock Plan include the following:

| Key Feature                                                  |     | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Independent Committee Administration                         |     | The Stock Plan is administered by our Compensation and Talent Committee, comprised entirely of independent directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| No Evergreen Provision                                       |     | The Stock Plan does not contain an “evergreen” provision that will automatically increase the number of shares authorized for issuance under the Stock Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Limit on Shares Authorized                                   |     | Under the Stock Plan, the aggregate number of shares that may be issued is 4,650,000 (which includes the 1,500,000 shares initially authorized under the plan, plus the 950,000 shares authorized under Amendment No. 1, and the 2,200,000 shares to be authorized under Amendment No. 2). In addition, shares subject to any outstanding awards under our prior stock incentive plans that are forfeited, canceled or reacquired by the company will become available for re-issuance under the Stock Plan.                                                                                                                                                                             |
| Plan Uses 1:1 Share Counting                                 |     | All shares subject to awards, regardless of the type of award or whether the award is full value or appreciation only, counts against the Stock Plan’s reserve on a 1:1 basis for each share subject to the award.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| No Discounted Stock Options or Stock Appreciation Rights     |     | Stock options and SARs must have an exercise price equal to or greater than the closing market value of our common stock on the date of grant (unless such award is granted in substitution for a stock option or SAR previously granted by an entity that is acquired by or merged with the company).                                                                                                                                                                                                                                                                                                                                                                                   |
| No Repricing of Stock Options or SARs                        |     | The Stock Plan prohibits the repricing of stock options and SARs (including a prohibition on the repurchase of “underwater” stock options or SARs for cash or other