[Form 4] BlackBerry Limited Insider Trading Activity

Rhea-AI Filing Summary

Lisa Bahash, a director of BlackBerry Limited (BB), received 14,377 Deferred Share Units (DSUs) on 08/31/2025. Each DSU equals one common share and the reported DSUs underlie 14,377 common shares. Following the reported transaction, the filing shows the reporting person beneficially owned 91,366 shares. The DSUs become payable in cash, common shares, or a combination at BlackBerry's discretion after the director leaves service. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person and discloses this non-derivative equity-linked compensation for director service.

Positive

• The director received 14,377 Deferred Share Units, which aligns compensation with shareholder value because each DSU equals one common share.
• The filing discloses that DSUs may be settled in cash or common shares, providing flexibility in settlement terms.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received 14,377 DSUs, increasing reported beneficial ownership to 91,366 shares; compensation is equity-linked and payable after service ends.

This Form 4 reports a routine director award in the form of Deferred Share Units rather than immediate common-share grants. DSUs typically align director incentives with shareholder value because their value tracks the share price until settlement. The filing shows 14,377 DSUs added on 08/31/2025 and a post-transaction beneficial ownership of 91,366 shares. There are no exercise prices or expirations noted because these are deferred units, and the record states settlement may be in cash or shares at BlackBerry's discretion following cessation of service. No additional financial terms or material transactions beyond the award are disclosed.

Corporate Governance Expert

TL;DR: This appears to be a standard director DSU award; disclosure is clear about settlement mechanics and post-termination timing.

The Form 4 clearly identifies the reporting person as a director and records a grant of 14,377 Deferred Share Units on 08/31/2025. The explanatory note specifies that each DSU equals one common share and that BlackBerry may settle DSUs in cash, common shares, or both after the director ceases service. The filing was executed via power of attorney, as indicated by the attorney-in-fact signature. From a governance disclosure standpoint, the form provides the essential elements required for Section 16 reporting: relationship, transaction date, amount, and nature of the units.

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
Estimated average burden
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^*

Bahash Lisa

(Last) (First) (Middle)

C/O BLACKBERRY LIMITED

2200 UNIVERSITY AVENUE EAST

(Street)

WATERLOO A6 N2K0A7

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKBERRY Ltd [ BB ]

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)
08/31/2025

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

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
Deferred Share Unit	(1)	08/31/2025		A		14,377		(1)	(1)	Common Shares	14,377	(1)	91,366	D

Explanation of Responses:

1. Each Deferred Share Unit ("DSU") is the economic equivalent of one common share. The DSUs become payable, in cash or common shares or a combination of the two, at the discretion of BlackBerry Limited ("BlackBerry") following cessation of the reporting person's service as a director of BlackBerry.

Remarks:

	/s/ Fraser Deziel, Attorney-in-Fact for Lisa Bahash	09/03/2025
	** 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

Who filed the Form 4 for BlackBerry (BB)?

The Form 4 was filed for Lisa Bahash, identified as a director of BlackBerry Limited, and signed by an attorney-in-fact.

What security was acquired in the Form 4 for BB on 08/31/2025?

The reporting person was granted 14,377 Deferred Share Units (DSUs), each equivalent to one common share.

How many shares does Lisa Bahash beneficially own after the reported transaction?

The filing reports 91,366 shares beneficially owned following the reported transaction.

When are the DSUs payable according to the filing?

The DSUs become payable in cash, common shares, or both at BlackBerry's discretion after cessation of the reporting person's service as a director.

Was an exercise price or expiration provided for these DSUs?

No exercise price or expiration date is provided; the filing describes these units as deferred share units payable after service ends.