BLACKBAUD INC — Director's Dealing 2017

Feb 15, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-02-13

Reporting Person: MISTRETTA JOHN J (EVP of Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-13	Common Stock	F	920	$70.74	Disposed	71153	Direct
2017-02-13	Common Stock	F	1227	$70.74	Disposed	69926	Direct
2017-02-14	Common Stock	A	10712	$0.00	Acquired	80638	Direct
2017-02-14	Common Stock	F	980	$71.66	Disposed	79658	Direct
2017-02-14	Common Stock	F	1771	$71.66	Disposed	77887	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (22887)	22887	Direct
Performance Stock Appreciation Right	$22.24	2019-11-05	Common Stock (80504)	80504	Direct

Footnotes

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

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of performance restricted stock units ("PRSUs") granted February 11, 2016.

F3: On February 14, 2017, the Compensation Committee determined that PRSUs granted in 2016 would vest in three equal annual installments beginning on February 14, 2017 based on the Issuer achieving performance goals for the period ended December 31, 2016.

F4: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of RS granted February 13, 2015.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted February 13, 2015.

F6: 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.

F7: 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.