BLACKBAUD INC — Director's Dealing 2022

Feb 26, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2022-02-23

Reporting Person: McDearis Kevin (EVP, Chief Products Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-02-23	Common Stock	A	5995	$0.00	Acquired	60558	Direct
2022-02-23	Common Stock	A	16033	$0.00	Acquired	76591	Direct
2022-02-23	Common Stock	A	9444	$0.00	Acquired	86035	Direct
2022-02-23	Common Stock	A	3181	$0.00	Acquired	89216	Direct
2022-02-24	Common Stock	F	1460	$68.08	Disposed	87756	Direct
2022-02-24	Common Stock	F	1475	$68.08	Disposed	86281	Direct

Footnotes

F1: Represents restricted stock units granted on February 23, 2022 that will vest in full on February 23, 2023, subject to continued employment.

F2: Represents a restricted stock award which vests in three equal annual installments beginning on February 23, 2023, subject to continued employment.

F3: The Compensation Committee determined that performance restricted stock units ("PRSUs") granted in 2021 would vest in three equal annual installments
beginning on February 23, 2022 based on the Issuer achieving performance goals for the period ended December 31, 2021.

F4: The Compensation Committee determined that a portion of PRSUs granted in 2021 would vest in full on February 23, 2022 based on the Issuer achieving performance goals for the period ended December 31, 2021, subject to continued employment. The remaining PRSUs granted in 2021 will vest dependent on the achievement of performance goals for the periods ended December 31, 2022 and December 31, 2023, subject to continued employment.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted February 23, 2022.