BLACKBAUD INC — Director's Dealing 2017

Feb 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-02-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-14	Common Stock	A	1452	$0.00	Acquired	55476	Direct
2017-02-15	Common Stock	F	2239	$72.16	Disposed	53237	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 a restricted stock award which vests in full on February 14, 2018, subject to continued employment.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of performance restricted stock units granted February 14, 2014.

F3: 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.