BLACKBAUD INC — Director's Dealing 2017

Sep 5, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-08-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-31	Common Stock	M	15493	$28.06	Acquired	50756	Direct
2017-08-31	Common Stock	D	5144	$84.52	Disposed	45612	Direct
2017-08-31	Common Stock	F	5067	$84.52	Disposed	40545	Direct
2017-08-31	Common Stock	S	5282	$84.24	Disposed	35263	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-31	Stock Appreciation Right	$28.06	M	15493	Disposed	2018-11-09	Common Stock (15493)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$22.24	2019-11-05	Common Stock (14600)	14600	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $84.10 to $84.45. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.

F2: Represents a stock appreciation right which vested in four equal annual installments beginning on November 10, 2012, subject to continued employment, and shall be settled in stock at time of exercise.

F3: Represents a stock appreciation right which vested in four equal annual installments beginning on November 6, 2013, subject to continued employment, and shall be settled in stock at time of exercise.