BLACKBAUD INC — Director's Dealing 2017

May 25, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2016-05-14

Reporting Person: Boruff Brian (EVP & Pres Ent. Market Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-14	Common Stock	A	10346	$0.00	Acquired	54510	Direct
2016-05-16	Common Stock	F	1185	$59.68	Disposed	53325	Direct
2017-05-15	Common Stock	F	1663	$79.82	Disposed	51662	Direct

Footnotes

F1: 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 May 14, 2016 based on the Issuer achieving performance goals for the period ended December 31, 2015.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted in 2015.