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: Gianoni Michael P (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-11	Common Stock	A	24719	$0.00	Acquired	208649	Direct
2016-02-13	Common Stock	A	57039	$0.00	Acquired	265688	Direct
2016-02-14	Common Stock	A	27435	$0.00	Acquired	293123	Direct
2016-02-16	Common Stock	F	6352	$52.70	Disposed	286771	Direct
2016-02-16	Common Stock	F	4820	$52.70	Disposed	281951	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 ("PRSUs") 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: On February 13, 2015, the Compensation Committee determined that PRSUs 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.

F4: 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.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 14, 2014.