Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 39

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 39
---
 | 100%                          |
| Maximum or Above  |     | 106%                       |     | 110%                    |     | 200%                          |

(1) No payouts are made for achievement below the threshold. If achievement is at or above the threshold, payouts are determined by linear interpolation for performance between the threshold and target levels and between the target and maximum levels .

Following determination of each financial metric payout in accordance with the chart above, final PSU payout results are subject to a three-year relative TSR modifier, utilizing a formula that may increase or decrease final participant payouts by up to 25%. Payout modification is based on a relative TSR ranking within a list of publicly traded companies that are constituents of the Russell 3000 index and that are categorized within the Commercial & Professional Services and Software Services GICS industries. Upon completion of the performance period, the relative TSR modifier is determined based on the following table:

<div align='center'>35</div>

| Relative TSR Modifier       |     |                              |     |                          |     |                              |
| 3-Year Relative TSR Ranking |     | Below 25thPercentile         |     | 25thto 75thPercentile    |     | Above 75thPercentile         |
| Modifier                    |     | -25%                         
 (final payout decreased 25%) |     | 0%                       
 (final payout unchanged) |     | +25%                         
 (final payout increased 25%) |

The final measurements of performance for the PSU metrics are subject to reasonable adjustments, including unknown or unanticipated items, whether favorable or unfavorable, to the calculation of the performance goals as determined by the Committee. Examples include, but are not limited to, acquisitions, partnerships, divestitures, changes in tax law, or other regulatory changes. Historically, if targets are attained, the PSUs have been converted to shares. However, the PSU award agreements allow our board discretion to pay out any earned amounts in cash or stock.

#### 2024 RSU Terms
RSUs vest in equal one-third increments on each of the first three anniversaries of the grant date. These awards are intended to further align the interests of the recipients with those of our shareholders, while promoting executive retention. These awards accrue dividend equivalents that are only paid out upon vesting.

#### 2024 Awards
The following table details the target grant date fair value used by the Committee to determine the number of PSUs and RSUs awarded to each NEO in 2024, which are disclosed