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DELUXE CORP·4

Feb 18, 12:18 PM ET

Engelhardt Tracey G 4

Research Summary

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Deluxe (DLX) SVP Tracey Engelhardt Receives RSUs; Shares Withheld

What Happened Tracey G. Engelhardt, Senior Vice President and Division President of Deluxe Corp (DLX), had restricted stock units (RSUs) vest and convert into 23,339 shares between Feb 14–16, 2026. To satisfy tax withholding obligations, 9,746 of those shares were withheld (disposed) at $26.21 per share, resulting in tax withholdings totaling $255,442. The filing records conversion/settlement of RSUs (reported with code M) and share withholding for taxes (code F).

Key Details

  • Transaction dates and amounts:
    • 2026-02-14: 10,025 RSUs vested → 10,025 shares; 4,186 shares withheld at $26.21 (value reported $109,715).
    • 2026-02-15: 10,231 RSUs vested → 10,231 shares; 4,272 shares withheld at $26.21 (value reported $111,969).
    • 2026-02-16: 3,083 RSUs vested → 3,083 shares; 1,288 shares withheld at $26.21 (value reported $33,758).
  • Totals: 23,339 shares vested, 9,746 shares withheld, net shares delivered to Engelhardt = 13,593; total withholding value ≈ $255,442.
  • Transaction codes: M = conversion/settlement of derivative/RSU; F = shares withheld to satisfy tax liabilities.
  • Footnotes: Vesting/conversion and withholding are per the Company’s Stock Incentive Plan (footnotes F1–F4); vesting schedules and conversion mechanics described in the filing.
  • Filing timeliness: Report filed 2026-02-18. Because vesting occurred Feb 14–15 (weekend dates), those entries appear to have been filed after the typical 2-business-day window and may be marked late in the filing. (Feb 16 entries were filed within the usual window.)
  • Shares owned after the reported transactions: Not disclosed in the provided filing excerpt.

Context

  • These transactions reflect routine RSU vesting and tax-withholding, not an open-market sale or an independent purchase. Share withholding to cover taxes is common and does not necessarily indicate a change in the insider’s market view.
  • The filing shows conversion of RSUs into common stock (derivative settlement) followed by withholding (cashless tax settlement), rather than a market sale of shares for investment purposes.