[Form 4] Asana, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Blackbaud Inc. (BLKB) Form 4: Independent director Andrew M. Leitch accepted a grant of 3,670 restricted shares on 01-Aug-2025 at $0 cost as part of routine board compensation. The award vests in full on 01-Aug-2026, or earlier immediately prior to the 2026 annual director election, contingent on his continued service. Following the grant, Leitch’s direct holdings rise to 40,201 common shares. No sales, options, or other derivative transactions were reported. The non-cash issuance produces immaterial dilution and represents standard equity alignment rather than a signal of insider sentiment or a change in company fundamentals.

Insights

Securities Analyst

TL;DR: Routine director RSU grant; negligible dilution; neutral for valuation.

The filing shows a standard restricted stock award to director Andrew Leitch, increasing his stake to roughly 40k shares. At Blackbaud’s recent price (~$70), the grant is worth about $257k—immaterial versus BLKB’s ~$3.5 bn market cap. No open-market buying or selling occurred, so it neither enhances insider bullishness nor triggers liquidity concerns. Such grants marginally improve director-shareholder alignment but have no substantive impact on earnings, cash flow, or strategic outlook. I classify the news as not impactful to investment positioning.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CAREY SYDNEY

(Last) (First) (Middle)

C/O ASANA, INC.

633 FOLSOM STREET, SUITE 100

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Asana, Inc. [ ASAN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/01/2025		A		953(1)	A	$0	122,925	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares represent the Class A Common Stock that the Reporting Person elected to receive in lieu of cash compensation under the Issuer's Non-Employee Director Compensation Policy for the quarter ended July 31, 2025. The number of shares of Class A Common Stock received in lieu of cash was calculated based on the closing price of a share of Class A Common Stock on July 31, 2025.

Remarks:

	/s/ Katie Colendich, Attorney-in-Fact	08/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Blackbaud (BLKB) shares did Director Andrew Leitch receive?

He received 3,670 restricted shares on 01-Aug-2025.

What is the vesting schedule for the new BLKB restricted stock award?

The shares vest 100% on 01-Aug-2026 or earlier, immediately before the 2026 annual director election if he is still serving.

How many Blackbaud shares does Andrew Leitch now own?

After the grant, he directly owns 40,201 common shares.

Did the Form 4 include any open-market purchases or sales?

No. The filing only reports a restricted stock grant; there were no purchases, sales, or derivative transactions.

Is this Form 4 filing likely to impact BLKB’s stock price?

Given the small size and routine nature of the grant, analysts view it as neutral with minimal market impact.