BLACKBAUD INC — Director's Dealing 2015

Feb 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2015-02-13

Reporting Person: BOOR ANTHONY W (CFO and Senior VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-13	Common Stock	A	22816	$0.00	Acquired	55159	Direct
2015-02-13	Common Stock	A	5487	$0.00	Acquired	60646	Direct
2015-02-17	Common Stock	F	1771	$44.45	Disposed	58875	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 a restricted stock award which vests in four equal annual installments beginning on February 13, 2016, subject to continued employment.

F2: On February 13, 2015, 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, 2014, for PRSUs granted in 2014.

F3: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs.

F4: 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.

F5: 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.