Mahony Brian 4

What Happened

• Brian Mahony, President, Merchant Services at Deluxe Corp (DLX), had 5,132 restricted stock units (RSUs) vest and convert into 5,132 shares on Feb 19, 2026 (reported on Form 4 filed Feb 20, 2026). The conversion is recorded as an exercise/conversion of a derivative (code M) at $0.00 per share.
• To satisfy tax withholding associated with the vesting, 2,508 of those shares were withheld (reported as a disposition under code F) at $27.32 per share, totaling $68,519. Net shares delivered to Mahony after withholding: 2,624.

Key Details

• Transaction date: 2026-02-19; filing date: 2026-02-20 (filed promptly).
• Conversion: 5,132 RSUs → 5,132 shares (code M) at $0.00.
• Tax withholding: 2,508 shares withheld (code F) at $27.32/share = $68,519.
• Net new shares to insider: 2,624.
• Shares owned after transaction: not stated in the supplied filing details.
• Footnotes: F1 = vesting and one-for-one conversion of RSUs; F2 = withholding to satisfy tax liabilities; F3 = RSUs granted under the Company Stock Incentive Plan vesting in equal one-third increments on the first three anniversaries of grant, generally contingent on continued employment.
• Transaction codes: M = exercise/conversion of derivative (here: RSU conversion); F = withholding to cover taxes.

Context

• This was a routine compensation event (RSU vesting) rather than an open-market purchase or a voluntary sale. Withholding shares to cover taxes is common and does not necessarily indicate insider sentiment about the stock.
• The conversion was recorded at $0.00 because RSUs convert to shares without an exercise price; the withheld shares were used solely to satisfy tax withholding, not sold on the open market by the insider.