BLACKBAUD INC — Director's Dealing 2013

Oct 29, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2013-10-25

Reporting Person: Cumbaa Charles T (SVP of Business Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-10-25	Common Stock	M	19125	$22.34	Acquired	45349	Direct
2013-10-25	Common Stock	D	10234	$41.75	Disposed	35115	Direct
2013-10-25	Common Stock	F	3055	$41.75	Disposed	32060	Direct
2013-10-25	Common Stock	S	2396	$41.75	Disposed	29664	Direct
2013-10-29	Common Stock	S	3440	$41.75	Disposed	26224	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-10-25	Stock Appreciation Right	$22.34	M	19125	Disposed	2016-11-11	Common Stock (19125)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1750	Indirect
Common Stock	1750	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$12.40	2015-11-08	Common Stock (9167)	9167	Direct
Stock Appreciation Right	$26.79	2017-11-07	Common Stock (26042)	26042	Direct
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (24648)	24648	Direct
Performance Stock Appreciation Right	$22.24	2019-11-05	Common Stock (86358)	86358	Direct

Footnotes

F1: Represents shares forfeited to the company in connection with the satisfaction of tax liabilities incurred upon the exercise of stock appreciation rights.

F2: This exercise and sale was effected pursuant to a Rule 10b5-1 trading plan executed by the reporting person on August 6, 2013 and effective on August 12, 2013.

F3: Represents a stock appreciation right which vests in four equal annual installments beginning on November 10, 2010, subject to continued employment, and shall be settled in stock at time of exercise.

F4: Represents a stock appreciation right which vested in four equal installments beginning on November 7, 2009, subject to continued employment, and shall be settled in stock at time of exercise.

F5: Represents a stock appreciation right which vests in four equal annual installments beginning on November 8, 2011, subject to continued employment, and shall be settled in stock at time of exercise.

F6: 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.

F7: For full text of this footnote 7, see Remarks.