Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 2, 2021, Deluxe Corporation (the "Company") announced that, effective
June 14, 2021, Scott C. Bomar will succeed Keith A. Bush as the Company's Senior
Vice President and Chief Financial Officer. Since 2006, Mr. Bomar, age 49, has
held positions of increasing responsibility with The Home Depot, Inc. From 2018
to 2021, Mr. Bomar was Home Depot's Senior Vice President, Home Services. From
2016 to 2018, Mr. Bomar was Home Depot's Vice President and Treasurer, and from
2013 to 2016, Mr. Bomar was Home Depot's Vice President, Financial Planning and
Analysis. Among other positions held with Home Depot, Mr. Bomar also served as
its Director, Strategic Business Development, and, in China, as President, China
Retail.
Mr. Bomar will receive a base salary of $525,000 and a starting bonus of
$500,000, which he must reimburse if he were to leave the Company under certain
circumstances prior to the first anniversary of his hire. To replace the value
of equity he is forfeiting from his former employer, Mr. Bomar will receive
stock options with a grant date fair value of $250,000 and restricted stock
units with a grant date fair value of $2,500,000, both of which will vest in
equal increments over four years beginning on the first anniversary of the date
of grant. The stock options will have a ten-year term. The remaining terms of
the restricted stock units and options will be governed by the Company's
standard forms of award agreement and the related plan. Mr. Bomar will
participate in the Company's executive compensation program, including its
annual and long-term incentive plans.
As previously disclosed, Mr. Bush will remain employed by the Company through a
transition period ending September 7, 2021.
Item 7.01 Regulation FD Disclosure.
A copy of the Company's press release announcing the the appointment of Mr.
Bomar is furnished herewith as Exhibit 99.1.
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Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
99.1 Press Release, dated June 2, 2021, of Deluxe Corporation
101.INS XBRL Instance Document - the instance document does not appear in the
Interactive Data File because its XBRL tags are embedded within the
Inline XBRL document
101.SCH XBRL Taxonomy Extension Schema Document
101.CAL XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF XBRL Taxonomy Extension Definition Linkbase Document
101.LAB XBRL Taxonomy Extension Label Linkbase Document
101.PRE XBRL Taxonomy Extension Presentation Linkbase Document
104 Cover page interactive data file (formatted as Inline XBRL and contained
in Exhibit 101)
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