Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 58

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 58
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,667 |     |                                                                                                                           |  116,547 |     |                                                                        | — |     |                                                                                                              | 142,783 |     |                                                                                            | -177,089 |     |                                                                                                | 12,853 |     |                                     |   980,761 |
| 2020 |     |                                                                                            |   737,637 |     |                                                                                                                           | -594,542 |     |                                                                        | — |     |                                                                                                              | -68,673 |     |                                                                                            |  -18,243 |     |                                                                                                |  3,425 |     |                                     |    59,604 |

(3) Assuming an initial investment of $100 on December 31, 2019, TSR assumes reinvestment of all dividends, if any, and reflects changes in the company’s share price since the assumed initial investment date.

(4) Represents the weighted Peer Group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The Peer Group used for this purpose is the Dow Jones U.S. Support Services (DJUSIS) Index.

(5) Dollar values represent the amount of net income reported in our audited financial statements for the applicable year.

(6) See Annex A for a reconciliation of adjusted EBITDA, a non-GAAP financial measure, to the most directly comparable GAAP financial measure.

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#### Additional Information
Following is a discussion of the relationship between CAP and our TSR, our peers' TSR, our net income, and our adjusted EBITDA:

• CAP vs. TSR—Because stock is a significant portion of our NEO compensation packages, as our TSR has fluctuated and decreased, so has the compensation realized by our NEOs. Similarly, the peer group TSR has also fluctuated.

• CAP vs. Net Income—While the performance of our leadership team has resulted in an increase in net income over the past five years, the CAP to the team over this period has tracked more in line with our TSR.

• CAP vs. Adjusted EBITDA—While the performance of our leadership team has resulted in an increase in adjusted EBITDA over the past five years, the CAP to the team over this period has tracked more in line with our TSR.

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#### Most Important Performance Measures
For our fiscal 2024, adjusted EBITDA was identified as the most important financial performance measure in linking CAP to company