BLACKBAUD INC — Director's Dealing 2017

Jan 6, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2017-01-03

Reporting Person: MOONEY KEVIN W (EVP, Pres Gen Markets Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-03	Common Stock	M	22870	$22.24	Acquired	94077	Direct
2017-01-03	Common Stock	D	7948	$64.00	Disposed	86129	Direct
2017-01-03	Common Stock	F	5222	$64.00	Disposed	80907	Direct
2017-01-03	Common Stock	S	8400	$64.97	Disposed	72507	Direct
2017-01-03	Common Stock	S	1300	$65.55	Disposed	71207	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-03	Performance Stock Appreciation Right	$22.24	M	22870	Disposed	2019-11-05	Common Stock (22870)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$28.06	2018-11-09	Common Stock (7043)	7043	Direct

Footnotes

F1: Represents shares forfeited to the Issuer 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 28, 2016 and effective on January 3, 2017.

F3: This transaction was executed in multiple trades at prices ranging from $64.43 to $65.42. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

F4: This transaction was executed in multiple trades at prices ranging from $65.45 to $65.66. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

F5: 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.

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.