BLACKBAUD INC — Director's Dealing 2017

Apr 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-03-31

Reporting Person: Cumbaa Charles T (EVP Corp. & Prod. Strategy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-31	Common Stock	F	4034	$76.67	Disposed	49203	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2100	Indirect
Common Stock	2100	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Stock Appreciation Right	$22.24	2019-11-05	Common Stock (43179)	43179	Direct

Footnotes

F1: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 11, 2016.

F2: Represents a performance stock appreciation right ("PSAR") which vested 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 be settled in stock at the time of exercise.