Michelle T. Collins
DELUXEAbout Michelle T. Collins
Michelle T. Collins is an independent director of Deluxe (DLX), appointed on August 20, 2025; she was designated an SEC “audit committee financial expert” and serves on the Audit & Finance Committee and, as of October 29, 2025, the Compensation & Talent Committee . Collins is a retired Deloitte partner, former Vice Chair of Deloitte’s U.S. Board, and chaired that board’s Governance Committee and Finance & Audit Committee; she holds a BS in Accounting from Western Michigan University and is a Certified Public Accountant .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte U.S. Board of Directors | Vice Chair; Director | 6 years | Chair, Governance Committee; Chair, Finance & Audit Committee |
| Deloitte (career) | Partner/advisor | Multi-decade | Advised on transformations, M&A, ERM, financial reporting, SEC compliance |
External Roles
| Company | Role | Tenure | Committees |
|---|---|---|---|
| Owens Corning | Director | Current | Not disclosed in DLX filings |
Board Governance
- Committee assignments: Audit & Finance (financial expert) and Compensation & Talent (appointed Oct 29, 2025) .
- Independence: Board determined Collins meets NYSE and DLX independence standards .
- Board practices: Independent Chair, annual elections, executive sessions, stock ownership guidelines for directors (5× cash retainer within five years), and prohibitions on hedging/pledging company stock .
- Attendance context: DLX’s board held six meetings in 2024; all directors then on the board attended ≥75% of meetings of the board and their committees. Collins joined in 2025; prior-year attendance figures do not apply to her .
- Related-party transactions: DLX disclosed no related person transactions since the beginning of 2024 .
Fixed Compensation
Standard non-employee director compensation (2024 schedule; paid quarterly):
| Board and Committee Retainers | Annual Fee ($) |
|---|---|
| Board Retainer | 85,000 |
| Independent Chair | 110,000 |
| Audit & Finance Committee Chair | 30,000 (raised by $2,000 in 2024) |
| Compensation & Talent Committee Chair | 25,000 (raised by $5,000 in 2024) |
| Corporate Governance Committee Chair | 20,000 (raised by $5,000 in 2024) |
| Non-chair Audit & Finance Member | 15,000 |
| Non-chair Compensation & Talent Member | 10,000 |
| Non-chair Corporate Governance Member | 10,000 |
Equity program (directors): Re-elected non-employee directors received RSUs with grant-date fair value of $159,999; 7,980 RSUs granted April 25, 2024, vesting on April 24, 2025; directors may elect to defer cash fees into stock/RSUs and defer equity grants; RSUs accrue dividend equivalents and vest upon change of control or certain separations . Collins’ appointment 8-Ks did not disclose her individual director compensation grants; only committee assignments and independence were disclosed .
Performance Compensation
- Directors at DLX do not receive performance-based equity (no PSUs); director equity is time-based RSUs (generally one-year vest to next annual meeting for annual grants) with dividend equivalents payable upon vesting .
- Change-in-control treatment: Director RSUs vest immediately upon a change of control; death, disability, or retirement (per guidelines) also accelerate vesting .
Other Directorships & Interlocks
| Director | External Public Boards | Potential Interlocks |
|---|---|---|
| Michelle T. Collins | Owens Corning (Director) | DLX auditor is PwC (not Deloitte), reducing audit conflicts risk; no compensation committee interlocks disclosed by DLX (none of DLX executives serve on other boards’ comp committees, and vice versa) |
Expertise & Qualifications
- Accounting/finance: CPA; SEC-defined audit committee financial expert; deep experience in financial reporting and controls .
- Governance: Chaired Governance and Finance & Audit at Deloitte; enterprise risk management oversight expertise .
- Strategy/operations: Transformation, M&A, and risk management advisory pedigree aligned with DLX’s payments/data strategy .
Equity Ownership
| Filing | Date | Reported Beneficial Ownership |
|---|---|---|
| Form 3 (Initial Statement) | Aug 21, 2025 | “No securities are beneficially owned.” |
- Director stock ownership guidelines: 5× annual board retainer within five years; share retention until guideline is met; hedging and pledging strictly prohibited .
- Deferral options: Directors may elect to receive cash fees in stock or deferred RSUs to build ownership .
Governance Assessment
- Strengths for investor confidence:
- Independence and designation as audit committee financial expert strengthen financial oversight (Audit & Finance) .
- Placement on Compensation & Talent Committee after 2024 say-on-pay scrutiny signals added governance rigor and responsiveness to shareholder feedback .
- No related-person transactions disclosed; auditor is PwC, reducing potential conflicts from Collins’ Deloitte background .
- Alignment considerations:
- Initial Form 3 shows zero ownership; DLX’s robust director ownership guidelines and deferral programs should drive alignment over the next five years .
- Policies mitigating risk:
- Prohibitions on hedging/pledging, regular executive sessions, annual board/committee evaluations, ERM oversight framework .
Insider Filings
| Type | Date | Key Details |
|---|---|---|
| Form 3 | Aug 21, 2025 | Initial beneficial ownership; none reported |
| Power of Attorney (Section 16) | Jul 24, 2025 | Authorizes DLX officers to file Forms 3/4/5 for Collins |
RED FLAGS: None disclosed specific to Collins in DLX filings. Auditor independence appears intact (PwC, not Deloitte). Initial zero ownership is typical at appointment and expected to rise given DLX’s director ownership policy and deferral mechanisms .