Company: DLX
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000027996-25-000107
Chunk: 41

Company: DELUXE CORP
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 41
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 of the company.

#### 2022–2024 PSU Award Payouts
Our 2022 PSU award goals were set in the first quarter of fiscal year 2022 and included equally weighted performance targets. Half of the PSUs targeted a specific revenue value to be achieved in fiscal year 2024. The other half were based on our three-year relative TSR ranking a 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

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Software Services GICS industries. At the end of the three year cycle, performance and payouts were evaluated on a scale, as described in the following tables.

| FY 2024 Total Revenue                                    |     |           |     |        |     |         |
|                                                          |     | Threshold |     | Target |     | Maximum |
| FY 2024 Total Revenue for 2022–2024 PSUs ($ in millions) |     |    $2,188 |     | $2,304 |     |  $2,418 |
| Payout                                                   |     |      50 % |     |   100% |     |    200% |

| Three-Year TSR (through December 31, 2024) |     |                 |     |                 |     |                 |
|:-------------------------------------------|:----|:----------------|:----|:----------------|:----|:----------------|
|                                            |     | Threshold       |     | Target          |     | Maximum         |
| TSR Ranking in comparison group            |     | 25th percentile |     | 50th percentile |     | 75th percentile |
| Payout                                     |     | 40%             |     | 100%            |     | 200%            |

After the conclusion of FY 2024, the blended performance payout for the 2022–2024 PSU awards was determined to be 82.6%. The performance target for 2024 was set prior to certain recent divestitures, and as a result, adjustments are required to factor in the impact of divested revenue within the performance period. The actual outcome for FY 2024 Total Revenue for 2022–2024 PSUs of $2,111 million required an adjustment of $144 million to capture these impacts, leading to a final achievement of $2,255 million, compared to a target of $2,304 million, resulting in a payout of 79