[Form 4] BlackBerry Limited Insider Trading Activity

Rhea-AI Filing Summary

Lisa S. Disbrow, a director of BlackBerry Limited (BB), reported a transaction dated 08/31/2025 in which she was granted 14,651 Deferred Share Units (DSUs). Each DSU is the economic equivalent of one common share and BlackBerry may settle the DSUs in cash, common shares or a combination when her service as a director ends. Following this grant, the reporting person beneficially owned 295,260 common shares in total. The Form 4 was filed under power of attorney (signed by Fraser Deziel) on 09/03/2025. The filing shows the acquisition was recorded as a non-cash DSU award and the ownership is reported directly.

Positive

• Director received 14,651 DSUs, increasing stake by share-equivalents and aligning director compensation with shareholder outcomes
• Total direct beneficial ownership reported as 295,260 shares, providing transparency on insider holdings

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director compensation via DSUs increased the director's direct stake by 14,651 share-equivalents; not a material capital-market event.

This Form 4 documents a compensation-related grant of 14,651 Deferred Share Units to a BlackBerry director, adding to total direct beneficial ownership of 295,260 common shares. DSUs are non-cash, equity-linked awards settled at termination of service, so they represent future value rather than immediate share dilution. The transaction is typical for board remuneration and does not indicate open-market buying or selling pressure; its immediate impact on float or valuation is negligible.

Corporate Governance Expert

TL;DR: The grant appears to be routine director compensation with standard settlement terms; it raises no obvious governance red flags.

The disclosure states DSUs are payable in cash or shares at BlackBerry's discretion upon cessation of service, which aligns with common deferred-compensation practices for independent directors. The Form 4 was filed by attorney-in-fact, and ownership is reported as direct. There is no indication of related-party transactions, accelerated vesting, or atypical settlement mechanics in the provided text.

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^*

DISBROW LISA S

(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		14,651		(1)	(1)	Common Shares	14,651	(1)	295,260	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 Debrow	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 BlackBerry director Lisa S. Disbrow (BB) report on Form 4?

The Form 4 reports the grant of 14,651 Deferred Share Units (DSUs) on 08/31/2025.

How many BlackBerry shares does the reporting person beneficially own after the transaction?

Following the reported transaction, the reporting person beneficially owned 295,260 common shares.

What are Deferred Share Units (DSUs) as disclosed in this filing?

Each DSU is stated as the economic equivalent of one common share and may be settled in cash, common shares, or a combination after the director leaves service.

When was the Form 4 filed and who signed it?

The Form 4 was signed by attorney-in-fact Fraser Deziel on 09/03/2025.

Does the filing show market purchases or sales of BlackBerry shares by the director?

No; the filing records a DSU grant (non-cash award), not an open-market purchase or sale.