BLACKBAUD INC — Director's Dealing 2015

Nov 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2015-11-16

Reporting Person: BOOR ANTHONY W (CFO & Exec VP of Fin. & Admin.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-16	Common Stock	F	1598	$58.72	Disposed	54239	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$28.78	2018-11-13	Common Stock (23553)	23553	Direct
Performance Stock Appreciation Right	$22.24	2019-11-06	Common Stock (68611)	68611	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 14, 2011.

F2: Represents a stock appreciation right which vests in four equal annual installments beginning on November 14, 2012, subject to continued employment, and shall be settled in stock at time of exercise.

F3: Represents a performance stock appreciation right ("PSAR") which vests in four equal annual installments beginning on November 6, 2013 since the Issuer maintained a 25% increase in its stock price over $22.24 for 30 consecutive days prior to November 6, 2013. The PSARs shall only vest subject to continued employment and shall be settled in stock at the time of exercise.