Morgan M. (Mac) Schuessler, Jr.
DELUXEAbout Morgan M. (Mac) Schuessler, Jr.
Independent director at Deluxe (DLX) since 2025; age 54. Currently CEO, President, and director of Evertec Group (NYSE: EVTC) since 2015; previously President, International at Global Payments (2005–2014) and leadership roles at American Express Corporate Services (1996–2005). Education: B.A. (NYU), MBA (Emory Goizueta); completed Wharton General Management Program; service on Emory Goizueta Dean’s Advisory Board for 13 years. Board has determined he is independent; committee assignments effective April 23, 2025: Audit & Finance and Corporate Governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Evertec Group (NYSE: EVTC) | Chief Executive Officer, President, and Director | 2015–present | Leads one of the largest transaction processors in LatAm, relevant to DLX payments strategy . |
| Global Payments | President, International | 2005–2014 | Senior P&L leadership in global payments expansion . |
| American Express Corporate Services | Multiple leadership roles | 1996–2005 | Progressively senior operating roles in corporate services . |
External Roles
| Organization | Role | Type | Tenure/Notes |
|---|---|---|---|
| Evertec Group (EVTC) | CEO/Director | Public company | CEO/Director since 2015 . |
| Endeavor Puerto Rico | Director | Non-profit | Current board member . |
| Smithsonian National Board | Member | Non-profit | Current board member . |
| Wharton Executive Education | Board/Advisor | Academic | Current board role . |
Board Governance
- Independence and roles: Board determined Schuessler meets NYSE and DLX independence standards; effective Apr 23, 2025 he will serve on Audit & Finance and Corporate Governance committees .
- Board structure: 8 of 9 nominees are independent; independent Chair (Cheryl Mayberry McKissack) since 2019; regular executive sessions of independent directors; no poison pill; hedging/pledging prohibited; director stock ownership guidelines in place .
- Meetings/attendance baseline (2024): Board met 6 times; all directors met ≥75% attendance; Audit & Finance met 7x; Compensation & Talent 6x; Corporate Governance 4x (Schuessler joined in 2025) .
- Risk oversight: Formal ERM with quarterly updates to the Board; Audit & Finance oversees ERM and related-party transaction approvals .
Fixed Compensation (Non‑Employee Director Program)
| Component | Amount/Terms |
|---|---|
| Annual Board Retainer (cash) | $85,000 . |
| Chair retainers | Independent Chair: $110,000; Audit & Finance Chair: $30,000; Compensation & Talent Chair: $25,000; Corporate Governance Chair: $20,000 . |
| Committee member retainers (non‑chair) | Audit & Finance: $15,000; Compensation & Talent: $10,000; Corporate Governance: $10,000 . |
| Meeting/site visit/education fees | $1,500 per approved site visit or director education program (max five per year) . |
| Equity – annual director grant (illustrative 2024) | Re‑elected directors received 7,980 RSUs on Apr 25, 2024 (grant date fair value $159,999) vesting at the 2025 annual meeting (Apr 24, 2025); no director options granted in 2024 . |
| New director example (mid‑year) | Angela Brown (elected Aug 13, 2024) received 6,243 RSUs (grant-date price $19.22) vesting on one‑year anniversary . |
| Deferral/settlement features | Directors may elect to receive cash fees in stock or deferred RSUs; RSUs accrue dividend equivalents; RSUs vest on change of control or upon death/disability/retirement under guidelines . |
Stock ownership guideline: Within five years, each independent director must own DLX stock equal to ≥5x the annual board retainer; directors not yet compliant must retain 100% of net shares acquired until target is met .
Performance Compensation
| Component | Applies to Non‑Employee Directors? | Notes |
|---|---|---|
| Annual cash bonus | No | Directors receive retainers, not AIP bonuses . |
| Performance share units (PSUs) | No | 2024 director equity was time‑vested RSUs; no options granted in 2024 . |
| Performance metrics | N/A | No revenue/EBITDA/TSR metrics tied to director pay; RSUs vest based on service . |
Other Directorships & Interlocks
| Company | Exchange/Ticker | Role | Interlock/Conflict Considerations |
|---|---|---|---|
| Evertec Group | NYSE: EVTC | CEO/Director | DLX’s executive pay peer group includes Evertec, creating a potential benchmarking sensitivity; however DLX discloses no compensation committee interlocks and Schuessler is not assigned to DLX’s Compensation & Talent Committee . |
Expertise & Qualifications
- 30+ years in payments/fintech spanning Evertec (CEO), Global Payments (international president), and AmEx Corporate Services; directly aligned with DLX’s strategy to be a trusted Payments and Data company .
- Education: BA (NYU), MBA (Emory Goizueta), Wharton GMP; service on Emory Goizueta Dean’s Advisory Board (13 years) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership at record date | 0 DLX shares reported for Schuessler as of Feb 24, 2025; Form 3 filed Feb 21, 2025 reported no securities beneficially owned . |
| % of class | Less than 1% . |
| Ownership guidelines | Required to reach ≥5x annual retainer within five years; new directors are “on track” per policy . |
| Hedging/pledging | Prohibited for directors and executive officers . |
Insider Trades
| Form | Filing Date | Summary |
|---|---|---|
| Form 3 | Feb 21, 2025 | Initial Statement of Beneficial Ownership; “No securities are beneficially owned” . |
Governance Assessment
-
Positives/strengths
- Relevant industry expertise added to Audit & Finance and Corporate Governance committees, aligning with DLX’s payments/data transformation priorities .
- Independence affirmed; board remains majority‑independent with an independent Chair and regular executive sessions; robust ERM and related‑party approval processes .
- Director compensation design emphasizes equity (RSUs) with deferral/holding features and strict hedging/pledging prohibitions, supporting alignment .
- No related person transactions requiring disclosure since the start of 2024 .
- Board responsiveness: following “relatively low” 2024 say‑on‑pay support, DLX conducted extensive outreach (contacted ~74% of shares; engaged ~42%) and adjusted incentive design and disclosures in response .
-
Watch items/risks
- External CEO role at Evertec (a DLX compensation peer) may create benchmarking optics; mitigating factors include no disclosed comp committee interlocks and Schuessler’s committee assignments exclude Compensation & Talent .
- Initial lack of DLX share ownership at appointment means near‑term alignment will rely on upcoming RSU grants and guideline progression; policy requires retention until guideline is achieved .
- Broader governance context includes recent shareholder scrutiny of executive pay; DLX’s engagement and program changes reduce risk but warrant continued monitoring .
Attendance note: Schuessler joined in 2025; 2024 attendance statistics reflect the prior board composition (all directors ≥75% meeting attendance; six board meetings held) .
Committee workloads (reference): 2024 meetings—Audit & Finance: 7; Compensation & Talent: 6; Corporate Governance: 4—inform expected time commitments for Schuessler’s assignments from April 23, 2025 .