BLACKBAUD INC — Director's Dealing 2023

Feb 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACKBAUD INC (BLKB)
CIK: 0001280058
Period of Report: 2023-02-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-13	Common Stock	F	735	$61.12	Disposed	48167	Direct
2023-02-13	Common Stock	F	737	$61.12	Disposed	47430	Direct
2023-02-13	Common Stock	F	957	$61.12	Disposed	46473	Direct
2023-02-13	Common Stock	F	1466	$61.12	Disposed	45007	Direct
2023-02-13	Common Stock	F	946	$61.12	Disposed	44061	Direct
2023-02-13	Common Stock	F	709	$61.12	Disposed	43352	Direct
2023-02-13	Common Stock	A	10213	$0.00	Acquired	53565	Direct
2023-02-13	Common Stock	A	2296	$0.00	Acquired	55861	Direct

Footnotes

F1: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 12, 2019.

F2: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 12, 2020.

F3: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of performance restricted stock units ("PRSUs") granted February 12, 2020.

F4: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted February 10, 2021.

F5: Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of separate PRSUs granted February 10, 2021.

F6: Represents a restricted stock award which vests in three equal annual installments beginning on February 13, 2024, subject to continued employment.

F7: The Compensation Committee determined that a portion of PRSUs granted on February 10, 2021 would vest in full on February 13, 2023 based on the Issuer achieving performance goals for the period ended December 31, 2022, subject to continued employment. The remaining PRSUs granted in 2021 will vest dependent on the achievement of performance goals for the period ended December 31, 2023, subject to continued employment.