BLACKBAUD INC — Director's Dealing 2014

Feb 18, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2014-02-14

Reporting Person: Holman Brad John (Pres Int'l Business Unit)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-14	Common Stock	A	1574	$0.00	Acquired	27241	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$26.79	2017-11-07	Common Stock (5581)	5581	Direct
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (11444)	11444	Direct
Performance Stock Appreciation Right	$22.24	2019-11-05	Common Stock (60378)	60378	Direct

Footnotes

F1: On February 14, 2014, the Compensation Committee determined that these performance-based restricted stock units ("PRSUs") vested based on the Issuer achieving performance goals for the period ending December 31, 2013, for PRSUs granted in 2011.

F2: Represents a stock appreciation right which vests in four equal annual installments beginning on November 8, 2011, subject to continued employment and an exercise price less than the closing price of the Issuer's common stock on each vesting date. The stock appreciation right shall be settled in stock at the time of exercise.

F3: Represents a stock appreciation right which vests in four equal annual installments beginning on November 10, 2012, subject to continued employment and an exercise price less than the closing price of the Issuer's common stock on each vesting date. The stock appreciation right shall be settled in stock at the time of exercise.

F4: For full text of this footnote 4, see Remarks.