Jeyaprakasam Yogaraj 4

What Happened Jeyaprakasam Yogaraj, Chief Tech. & Digital Officer of Deluxe Corp (DLX), had 10,265 restricted stock units (RSUs convert one-for-one into shares) vest on 2026-02-19. The RSUs converted into 10,265 shares (reported as derivative conversion, code M). To satisfy tax withholding obligations, 4,162 of those shares were withheld and disposed at $27.32 per share, resulting in $113,706 paid to cover taxes (transaction code F). Net shares delivered to Yogaraj after withholding were 6,103 shares.

Key Details

• Transaction date: 2026-02-19; Form 4 filed 2026-02-20 (timely filing; no late flag shown).
• Conversion: 10,265 RSUs converted to 10,265 common shares (reported as derivative conversion, code M).
• Tax withholding: 4,162 shares withheld/disposed at $27.32/share = $113,706 (code F).
• Net shares received: 10,265 − 4,162 = 6,103 shares delivered to the insider.
• Shares owned after transaction: not specified in the filing.
• Footnotes summary:
  • F1: RSUs vested and converted one-for-one into shares.
  • F2: Shares were withheld to satisfy tax withholding on vesting.
  • F3: RSUs are from the Company’s Stock Incentive Plan and vest in equal one‑third installments on the first three anniversaries of grant (subject to continued employment).

Context This was an equity award vesting (not an open‑market purchase or a voluntary sale). Withholding shares to cover taxes is a routine administrative step and does not by itself indicate a change in the insider’s view of the company. The filing shows conversion of RSUs into shares (derivative transaction) and the subsequent withholding to meet tax obligations.