BLACKBAUD INC — Director's Dealing 2016

Feb 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2016-02-14

Reporting Person: Olson Jon W (SVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-14	Common Stock	A	1143	$0.00	Acquired	27248	Direct
2016-02-16	Common Stock	F	644	$52.70	Disposed	26604	Direct
2016-02-16	Common Stock	F	200	$52.70	Disposed	26404	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$22.34	2016-11-11	Common Stock (7000)	7000	Direct
Stock Appreciation Right	$26.79	2017-11-07	Common Stock (12277)	12277	Direct
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (15493)	15493	Direct
Stock Appreciation Right	$22.24	2019-11-05	Common Stock (14600)	14600	Direct

Footnotes

F1: On February 13, 2015, the Compensation Committee determined that performance based restricted stock units granted in 2014 (the "2014 PRSUs") would vest in three equal annual installments beginning on February 14, 2015 based on the Issuer achieving performance goals for the period ended December 31, 2014. The remaining 2014 PRSUs as reported in this Form 4 vest one half immediately and one half on February 14, 2017.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of performance based restricted stock units ("PRSUs") granted in 2015.

F3: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted in 2014.

F4: Represents a stock appreciation right which vested in four equal annual installments beginning on November 10, 2010, subject to continued employment, and shall be settled in stock at time of exercise.

F5: Represents a stock appreciation right which vested 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: Represents a stock appreciation right which vests in four equal annual installments beginning on November 6, 2013, subject to continued employment, and shall be settled in stock at time of exercise.