[Form 4] BlackBerry Limited Insider Trading Activity

Rhea-AI Filing Summary

Wayne Wouters, a director of BlackBerry Limited (BB), acquired 13,482 Deferred Share Units (DSUs) on 08/31/2025 as reported on a Form 4. Each DSU equals the economic equivalent of one common share and the DSUs become payable, in cash or common shares or a combination, at BlackBerry's discretion after the director leaves service. Following this acquisition Mr. Wouters' reported beneficial ownership of common shares (direct) is 355,219 shares. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Wouters on 09/03/2025.

Positive

• Director alignment: Acquisition of 13,482 DSUs increases the reporting person's economic exposure to BlackBerry equity.
• Substantial reported ownership: Reporting person holds 355,219 common shares beneficially after the reported transaction, indicating meaningful stake.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director compensation in equity-equivalent units; increases director's stake without immediate dilution or cash outflow.

This transaction reports an acquisition of 13,482 DSUs, which are equity-linked units that do not represent immediate issuance of common shares but provide economic exposure and deferred payout upon cessation of service. For investors, this is a governance signal that the director maintains meaningful ownership (reported 355,219 shares directly), aligning incentives with shareholders. The transaction appears administrative and compensatory rather than market-driven; it does not change outstanding share count today.

Corporate Governance Expert

TL;DR: Standard deferred equity award to a director; supports alignment and retention without immediate share issuance.

The DSU award is a common board compensation mechanism that vests economically at termination of service and may be settled in cash or shares at company discretion. It strengthens director alignment with shareholder interests by increasing long-term economic exposure. There is no indication of unusual timing, related-party issues, or accelerated settlement terms disclosed in this Form 4.

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^*

Wouters Wayne

(Last) (First) (Middle)

C/O BLACKBERRY LIMITED

2200 UNIVERSITY AVENUE EAST

(Street)

WATERLOO A6 N2K 0A7

(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		13,482		(1)	(1)	Common Shares	13,482	(1)	355,219	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 Wayne Wouters	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

What transaction did Wayne Wouters report on Form 4 for BB?

He reported an acquisition of 13,482 Deferred Share Units (DSUs) on 08/31/2025.

What is a DSU and how will it be paid?

The Form states each DSU equals one common share in economic terms and will be paid in cash, common shares, or a combination at BlackBerry's discretion following cessation of the director's service.

How many BlackBerry shares does Wayne Wouters beneficially own after the transaction?

The Form reports 355,219 common shares beneficially owned (direct) following the reported transaction.

When was the Form 4 signed and by whom?

The Form 4 bears a signature by Fraser Deziel, Attorney-in-Fact for Wayne Wouters dated 09/03/2025.

Does this Form 4 indicate immediate issuance of new common shares?

No. The reported instrument is Deferred Share Units (DSUs) which are economic equivalents and are payable later; the Form does not show immediate issuance of common shares.