8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 13, 2017

DELUXE CORPORATION

(Exact name of registrant as specified in its charter)

Minnesota	1-7945	41-0216800
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

3680 Victoria St. North, Shoreview, Minnesota	55126-2966
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (651) 483-7111

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 5 - Corporate Governance and Management

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) The registrant has appointed Keith A. Bush to be its Senior Vice President and Chief Financial Officer (principal financial officer), effective March 31, 2017. Mr. Bush has been self-employed as a consultant to the airline industry from July 2016 through present. Prior to that, he was Sr. Vice President, Finance at American Airlines from June 2009 through July 2016. During the prior 12 years, Mr. Bush held various positions of increasing responsibility in the finance function of Northwest Airlines.

In connection with this appointment, Mr. Bush’s annual base salary will be $475,000. He also will become party to the Company’s standard form of Executive Retention Agreement for senior vice presidents. This agreement provides protection to executive officers in the event their employment is terminated or otherwise adversely affected following a “Change of Control,” as that term is defined in the agreement. The terms of this agreement are addressed more fully in the Company’s most recent proxy statement, and a complete copy of the agreement has previously been filed as Exhibit 10.7 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016.

In connection with this appointment, Mr. Bush will also receive awards valued at $1,000,000 under the registrant’s 2012 Long-Term Incentive Compensation Plan. The portion of such value granted as performance shares (45%) will be valued based on the closing price of the registrant’s common stock on March 31, 2017, and the stock options (25%) and restricted stock awards (30%) will be valued based on the respective grant date fair values on the same date. The terms of this agreement are addressed more fully in the Company’s most recent proxy statement, and a complete copy of the agreement has previously been filed as Exhibit 10.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016.

Mr. Bush has no family relationships with any director or other executive officer of the Company.

A copy of the Company’s press release announcing Mr. Bush’s appointment is attached as Exhibit 99.1 to this report.

Section 7 - Regulation FD

Item 7.01 Regulation FD Disclosure.

On March 13, 2017, Deluxe Corporation issued a press release announcing the naming of a new Chief Financial Officer, which press release is furnished hereto as Exhibit 99.1.

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Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release, dated March 13, 2017, of Deluxe Corporation announcing naming of Keith A. Bush as Chief Financial Officer, which shall be deemed furnished in connection with Item 7.01 hereof.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 13, 2017

DELUXE CORPORATION

/s/ J. Michael Schroeder

J. Michael Schroeder

Senior Vice President,

General Counsel and Secretary

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INDEX TO EXHIBITS

Exhibits

99.1 Press Release, dated March 13, 2017, of Deluxe Corporation announcing naming of Keith A. Bush as Chief Financial Officer

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact:	Cameron Potts 651-233-7735 cameron.potts@deluxe.com

Deluxe Corporation appoints Keith A. Bush as Chief Financial Officer

National search lands seasoned executive for leadership role

ST. PAUL, Minn. March 13, 2017 -- Deluxe Corporation (NYSE: DLX), a growth engine for small businesses and financial institutions, today announced the appointment of Keith A. Bush, 46, as Chief Financial Officer, effective March 31, 2017. Bush takes over for Edward Merritt, who held the position on an interim basis since September, 2016.

Bush joins the Deluxe executive team from American Airlines, where he most recently served as the Senior Vice President of Finance. Bush has worked in the airline industry since 1995, when he joined then Northwest Airlines. He has held varied roles with increasing responsibilities in treasury and financial planning and analysis for Northwest, Delta, US Airways, and American Airlines.

“This was a thorough and exhaustive search and I am excited to have someone with Keith’s qualifications and experiences assume the CFO role,” said Lee Schram, CEO of Deluxe Corporation. “Keith brings an exceptional background in strategic management, financial planning, and mergers and acquisitions while operating in a highly competitive global marketplace. I am looking forward to working with him as a strategic partner as we continue Deluxe’s positive transformation.”

While at American Airlines, Bush built a strong finance department and led a team of nearly 300 employees, directing efforts in financial planning and analysis, division finance, corporate purchasing, and insurance and risk management. Bush was also involved in the financial earnings release and investor relations processes. Joining US Airways in 2009, Bush played a critical role in the planning and integration of the merger between American Airlines and US Airways. Originally from Indiana, he holds a bachelor of science degree in marketing from Butler University and an MBA with a finance and strategic management focus from Case Western Reserve University.

Merritt will return to his previous role as Treasurer and Vice President of Investor Relations. “Ed’s contributions in the last seven months including his ability to step in and provide a seamless transition throughout this process have been invaluable, and I look forward to him helping with the integration of Keith to Deluxe,” Schram said.

“I am incredibly thrilled to be joining Deluxe and contributing to a growth plan that is already delivering strong value for Deluxe’s shareholders,” said Bush. “This is a very exciting time for Deluxe and I look forward to partnering closely with Lee and the executive leadership team to help further drive the strategic transformation.”

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About Deluxe Corporation

Deluxe Corp. is a growth engine for small businesses and financial institutions. Nearly 4.4 million small business customers access Deluxe’s wide range of products and services, including customized checks and forms, as well as website development and hosting, email marketing, social media, search engine optimization and logo design. For our approximately 5,600 financial institution customers, Deluxe offers industry-leading programs in checks, data driven marketing, treasury management and digital engagement solutions. Deluxe is also a leading provider of checks and accessories sold directly to consumers. For more information, visit us at www.deluxe.com, www.facebook.com/deluxecorp or www.twitter.com/deluxecorp.