BLACKBAUD INC — Director's Dealing 2017

Feb 13, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-02-09

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-09	Common Stock	M	21590	$22.24	Acquired	80502	Direct
2017-02-09	Common Stock	D	6716	$71.50	Disposed	73786	Direct
2017-02-09	Common Stock	F	7191	$71.50	Disposed	66595	Direct
2017-02-09	Common Stock	S	7683	$71.50	Disposed	58912	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-09	Performance Stock Appreciation Right	$22.24	M	21590	Disposed	2019-11-05	Common Stock (21590)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2100	Indirect
Common Stock	2100	Indirect

Footnotes

F1: Represents shares forfeited to the company in connection with the satisfaction of tax liabilities incurred upon the exercise of performance stock appreciation rights.

F2: This exercise and sale was effected pursuant to a Rule 10b5-1 trading plan executed by the reporting person on November 19, 2016 and effective on January 3, 2017.

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.