BLACKBAUD INC — Director's Dealing 2023

Mar 2, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2023-02-24

Reporting Person: Gianoni Michael P (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-24	Common Stock	A	12431	$0.00	Acquired	366327	Direct
2023-02-24	Common Stock	A	31164	$0.00	Acquired	397491	Direct
2023-02-24	Common Stock	A	9679	$0.00	Acquired	407170	Direct
2023-02-27	Common Stock	F	5700	$57.15	Disposed	401470	Direct
2023-02-27	Common Stock	F	4763	$57.15	Disposed	396707	Direct
2023-02-27	Common Stock	F	4438	$57.15	Disposed	392269	Direct
2023-02-27	Common Stock	F	8911	$57.15	Disposed	383358	Direct
2023-02-28	Common Stock	S	3100	$55.7249	Disposed	380258	Direct
2023-03-01	Common sTock	S	6900	$55.8409	Disposed	373358	Direct

Footnotes

F1: Represents performance restricted stock units ("PRSUs") granted on February 24, 2022 that vested in full on February 24, 2023.

F2: The Compensation Committee determined that PRSUs granted on February 24, 2022 would vest in three equal annual installments beginning on February 24, 2023, based on the Issuer achieving performance goals for the period ended December 31, 2022.

F3: The Compensation Committee determined that a portion of PRSUs granted on February 24, 2022 would vest in full on February 24, 2023 based on the Issuer achieving performance goals for the period ended December 31, 2022, subject to continued employment. The remaining PRSUs granted on February 24, 2022 will vest dependent on the achievement of performance goals for the periods ended December 31, 2023 and December 31, 2024, subject to continued employment.

F4: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of separate PRSUs granted February 24, 2022.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 24, 2022.

F6: This transaction was executed in multiple trades at prices ranging from $55.65 to $56.17. 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.

F7: This transaction was executed in multiple trades at prices ranging from $55.65 to $56.29. 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.