BLACKBAUD INC — Director's Dealing 2012

Nov 20, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2012-11-19

Reporting Person: Eggers Jana (Sen VP Product Mgmt & Mktg)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-19	Common Stock	F	523	$21.65	Disposed	24213	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$25.43	2017-11-15	Common Stock (22321)	22321	Direct
Stock Appreciation Right	$26.82	2018-02-14	Common Stock (10120)	10120	Direct
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (28169)	28169	Direct
Performance Stock Appreciation Right	$22.24	2019-11-06	Common Stock (91481)	91481	Direct

Footnotes

F1: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted November 16, 2010.

F2: Represents a stock appreciation right which vests in four equal annual installments beginning on November 16, 2011, subject to continued employment, and shall be settled in stock at time of exercise.

F3: Represents a stock appreciation right which vests in four equal annual installments beginning on February 14, 2012, subject to continued employment, and shall be settled in stock at time of exercise.

F4: Represents a stock appreciation right which vests in four equal annual installments beginning on November 10, 2012, subject to continued employment, and shall be settled in stock at time of exercise.

F5: For full text of this footnote 5, see Remarks.