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: 2016-02-16

Reporting Person: MISTRETTA JOHN J (EVP of Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-16	Common Stock	F	1307	$52.70	Disposed	80526	Direct
2016-02-16	Common Stock	F	1569	$52.70	Disposed	78957	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$22.34	2016-11-11	Common Stock (22000)	22000	Direct
Stock Appreciation Right	$26.79	2017-11-07	Common Stock (22321)	22321	Direct
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (22887)	22887	Direct
Performance Stock Appreciation Right	$22.24	2019-11-05	Common Stock (80504)	80504	Direct

Footnotes

F1: 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.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted in 2014.

F3: 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.

F4: 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.

F5: 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.

F6: 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.