Cotter Jeffrey Louis 4

What Happened
Jeffrey Louis Cotter, Senior Vice President, Chief Administrative Officer and General Counsel of Deluxe Corp (DLX), had restricted stock units (RSUs) vest and convert into common shares on February 14–16, 2026. A total of 17,222 RSUs converted into shares (7,937 on Feb 14, 6,394 on Feb 15, and 2,891 on Feb 16). To satisfy tax withholding obligations, 3,906, 3,146 and 1,423 shares were withheld on those same dates, respectively, at a withholding price of $26.21 per share (total tax withholding ≈ $222,130). Net shares added to Cotter’s holdings after withholding were 8,747 shares.

Key Details

• Transaction types: M = conversion/vesting of RSUs into shares; F = withholding of shares to satisfy tax liabilities.
• Dates and amounts:
  • Feb 14, 2026: 7,937 RSUs vested → 7,937 shares; 3,906 shares withheld for taxes (withholding value $102,376 at $26.21).
  • Feb 15, 2026: 6,394 RSUs vested → 6,394 shares; 3,146 shares withheld (withholding value $82,457 at $26.21).
  • Feb 16, 2026: 2,891 RSUs vested → 2,891 shares; 1,423 shares withheld (withholding value $37,297 at $26.21).
• Total: 17,222 shares converted; 8,475 shares withheld; total withholding ≈ $222,130; net shares retained ≈ 8,747.
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Footnotes: Vesting reflects conversion of previously granted RSUs (one-for-one); withholding to satisfy tax liabilities; RSUs vest on multi-year schedules per the company’s Stock Incentive Plan and generally require continued employment.
• Filing: Reported on Feb 18, 2026 for transactions Feb 14–16; filing appears timely (Form 4 filed within the normal window).

Context
These filings reflect routine RSU vesting and tax-withholding (a non-market disposal of shares to cover taxes), not an open-market sale or purchase. When RSUs vest and shares are withheld for taxes, it’s a common administrative step and shouldn’t be interpreted as an independent bullish or bearish trade.