BLACKBAUD INC — Director's Dealing 2016

Feb 16, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2016-02-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-11	Common Stock	A	8240	$0.00	Acquired	20967	Direct
2016-02-13	Common Stock	A	5704	$0.00	Acquired	26671	Direct
2016-02-16	Common Stock	F	566	$52.70	Disposed	26105	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: Represents a restricted stock award which vests in four equal annual installments beginning on February 11, 2017, subject to continued employment.

F2: On February 11, 2016, the Compensation Committee determined that performance based restricted stock units granted in 2015 would vest in three equal annual installments beginning on February 13, 2016 based on the Issuer achieving performance goals for the period ended December 31, 2015.

F3: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 13, 2015.

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.