BLACKBAUD INC — Director's Dealing 2018

Feb 17, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2018-02-14

Reporting Person: Olson Jon W (SVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-14	Common Stock	A	6531	$0.00	Acquired	46239	Direct
2018-02-14	Common Stock	F	448	$95.20	Disposed	45791	Direct
2018-02-14	Common Stock	F	596	$95.20	Disposed	45195	Direct
2018-02-15	Common Stock	F	593	$97.33	Disposed	44602	Direct
2018-02-15	Common Stock	F	933	$97.33	Disposed	43669	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$22.24	2019-11-05	Common Stock (14600)	14600	Direct

Footnotes

F1: The Compensation Committee determined that performance restricted stock units ("PRSUs") granted in 2017 would vest in three equal annual installments beginning on February 14, 2018 based on the Issuer achieving performance goals for the period ended December 31, 2017.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock ("RS") granted February 13, 2015.

F3: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted February 13, 2015.

F4: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of RS granted February 14, 2017.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted February 14, 2017.

F6: Represents a stock appreciation right which vested in four equal annual installments beginning on November 6, 2013, subject to continued employment, and shall be settled in stock at time of exercise.