FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SCHRAM LEE J 		2. Issuer Name and Ticker or Trading Symbol

DELUXE CORP [ DLX ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

3680 VICTORIA STREET NORTH 		3. Date of Earliest Transaction (MM/DD/YYYY)

11/11/2016
(Street)

SHOREVIEW, MN 55126
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   11/11/2016     M (1)    54200   A $25.59   332358   D  
 
Common Stock   11/11/2016     M (1)    66600   A $18.28   398958   D  
 
Common Stock   11/11/2016     F (1)    81488   D $66.38   317470   D  
 
Common Stock   11/14/2016     S (1)    39312   D $66.43   (2) 278158   (3) D  
 

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Option   $18.28   11/11/2016     M   (1)       66600    2/17/2011   (4) 2/17/2017   Common Stock   66600   $0   0   D  
 
Common Stock Option   $25.59   11/11/2016     M   (1)       54200    2/16/2012   (4) 2/16/2018   Common Stock   54200   $0   54200   D  
 
Common Stock Option   $25.45                    2/16/2013   (4) 2/16/2019   Common Stock   106000     106000   D  
 
Common Stock Option   $38.80                    2/20/2014   (4) 2/20/2020   Common Stock   95800     95800   D  
 
Common Stock Option   $50.32                    2/27/2015   (4) 2/27/2021   Common Stock   64435     64435   D  
 
Common Stock Option   $67.08                    2/12/2016   (4) 2/12/2022   Common Stock   64162     64162   D  
 
Common Stock Option   $54.30                    2/17/2017   (4) 2/17/2023   Common Stock   127238     127238   D  
 

Explanation of Responses:
( 1)  The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 8, 2016.
( 2)  Shares were sold in multiple transactions at prices ranging from $65.97 to $67.03. The price reported is the weighted average sale price. The reporting person will provide to the issuer, a security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the selling range.
( 3)  Total ownership includes 82,710 shares of restricted stock.
( 4)  Options vest in three equal installments on the three succeeding anniversary dates of the date of grant, provided the holder remains an employee of the Company. Date entered reflects date on which first installment vests(ed).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SCHRAM LEE J
3680 VICTORIA STREET NORTH
SHOREVIEW, MN 55126 		X
Chief Executive Officer

Signatures
J. Michael Schroeder as Power of Attorney for Lee Schram 11/15/2016
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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