[Form 4] BlackBerry Limited Insider Trading Activity

Rhea-AI Filing Summary

BlackBerry director Philip G. Brace received 14,132 Deferred Share Units (DSUs) on 08/31/2025. Each DSU equals one common share and becomes payable in cash, common shares, or a combination at BlackBerry Limited's discretion after the director stops serving. Following the reported transaction, 14,132 underlying common shares relate to the DSUs and the filing reports 139,310 securities beneficially owned following the transaction. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Brace on 09/03/2025.

Positive

• Director compensation aligned with shareholders: 14,132 DSUs tie pay to long-term value by deferring payout until service termination
• No immediate dilution disclosed: DSUs are payable at cessation and may be settled in cash, delaying share issuance

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received deferred equity that vests on departure, aligning long-term interests with shareholders without immediate dilution.

The filing documents an award of 14,132 Deferred Share Units to a director, payable in cash or shares after cessation of service. DSUs are commonly used to compensate and retain non-employee directors while deferring payout until departure, which preserves current share count and avoids near-term dilution. The reportable beneficial ownership of 139,310 shares post-transaction should be confirmed against prior filings to assess incremental change, but the structure indicates standard director compensation practice rather than a change in control or material corporate action.

Securities Analyst

TL;DR: Transaction is routine director compensation; not likely material to BlackBerry's valuation or capital structure.

The Form 4 shows an acquisition code (A) for 14,132 DSUs on 08/31/2025. Because DSUs convert at departure and may be settled in cash or shares, immediate market impact or dilution is limited. The filing does not disclose exercise prices, cash amounts, or acceleration triggers, so materiality appears low. Investors monitoring insider activity should note the increase in beneficial ownership to 139,310 shares but recognize this is consistent with deferred compensation rather than a market-facing transaction.

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^*

BRACE PHILIP G

(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		14,132		(1)	(1)	Common Shares	14,132	(1)	139,310	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 Philip Brace	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 did BlackBerry director Philip G. Brace receive on 08/31/2025 (BB)?

Philip G. Brace received 14,132 Deferred Share Units (DSUs) on 08/31/2025, each equivalent to one common share.

How and when are the Deferred Share Units (DSUs) payable?

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

What is the reported beneficial ownership after the transaction?

The filing reports 139,310 securities beneficially owned following the reported transaction.

Who signed the Form 4 for Philip Brace and when?

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

Does this Form 4 indicate an immediate sale or market transaction?

No. The Form 4 records an acquisition of DSUs for deferred compensation, not an open-market sale.