BlackBerry CLO covers taxes with RSU share sale

BlackBerry Limited’s Chief Legal Officer and Corporate Secretary, Philip S. Kurtz, reported routine equity compensation activity.

Rhea-AI Filing Summary

BlackBerry Limited’s Chief Legal Officer and Corporate Secretary, Philip S. Kurtz, reported routine equity compensation activity. He exercised 7,375 Restricted Share Units into the same number of common shares at $0.00 per share, linked to an RSU award granted on April 2, 2025 that vests quarterly through April 2, 2028.

On the same date, he sold 4,195 common shares at a weighted average price of $11.56 per share, in multiple trades between $11.40 and $11.65, specifically to cover withholding taxes upon RSU vesting. Following these transactions, he directly holds 120,664 common shares and 51,620 RSUs, indicating a net increase in his equity-based exposure.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Kurtz Philip S.

Role CLO & Corp. Secretary

Sold 4,195 shs ($48K)

Approx. gross sale proceeds $48K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	7,375	$0.00	$0.00
Exercise	Common Shares	7,375	$0.00	$0.00
Sale	Common Shares	4,195	$11.56	$48K

Holdings After Transaction: Restricted Share Units — 51,620 contracts (Direct); Common Shares — 120,664 shares (Direct)

Footnotes (5)

1. F1. Each unit represents a contingent right to receive one common share or an equivalent amount of cash, or a combination of the two, at the discretion of BlackBerry Limited.
2. F2. Sales to cover withholding taxes upon vesting of Restricted Share Units ("RSUs")".
3. F3. The price reported was converted from Canadian dollars to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.40 to $11.65, exclusive of any fees, commissions or other expenses. The Reporting Person undertakes to provide BlackBerry, any shareholder of BlackBerry, or the Staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
5. F5. This award was granted on April 2, 2025, and assuming continued employment through the applicable vesting date, vests in twelve equal quarterly installments ending April 2, 2028.

Key Figures

Shares sold: 4,195 shares Weighted average sale price: $11.56 per share RSUs exercised: 7,375 units +3 more

6 metrics

Shares sold 4,195 shares Common shares sold on July 2, 2026

Weighted average sale price $11.56 per share Common share sales between $11.40 and $11.65

RSUs exercised 7,375 units Restricted Share Units converted into common shares

Common shares held after 120,664 shares Direct ownership following transactions

RSUs held after 51,620 units Restricted Share Units remaining after conversion

Sale price range $11.40–$11.65 per share Range of prices for multiple sale trades

Key Terms

Restricted Share Units, weighted average price, withholding taxes, derivative security, +1 more

5 terms

Restricted Share Units financial

"Sales to cover withholding taxes upon vesting of Restricted Share Units ("RSUs")."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

withholding taxes financial

"Sales to cover withholding taxes upon vesting of Restricted Share Units ("RSUs")."

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

contingent right financial

"Each unit represents a contingent right to receive one common share or an equivalent amount of cash"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did BlackBerry (BB) executive Philip S. Kurtz report in this Form 4?

Philip S. Kurtz reported RSU vesting and related share sales. He exercised 7,375 Restricted Share Units into common shares and sold 4,195 common shares to cover withholding taxes, reflecting routine equity compensation activity rather than a discretionary reduction in his overall position.

How many BlackBerry (BB) shares did Philip S. Kurtz sell and at what price?

He sold 4,195 common shares at a weighted average price of $11.56. The trades occurred in multiple transactions with prices ranging from $11.40 to $11.65 per share, excluding fees and commissions, according to the detailed pricing footnote in the filing.

Why were Philip S. Kurtz’s BlackBerry (BB) shares sold in this transaction?

The sale was to cover withholding taxes triggered by the vesting of Restricted Share Units. This is described explicitly as “sales to cover withholding taxes upon vesting of RSUs,” indicating a tax-related, mechanical disposition rather than a discretionary open-market sale for portfolio reasons.

How many BlackBerry (BB) shares and RSUs does Philip S. Kurtz hold after these transactions?

After the reported transactions, he directly holds 120,664 common shares and 51,620 Restricted Share Units. These RSUs represent contingent rights to receive common shares or cash, or a combination, at BlackBerry Limited’s discretion, providing additional potential future equity exposure.

What are the key terms of Philip S. Kurtz’s BlackBerry (BB) RSU award?

The RSU award was granted on April 2, 2025 and vests in twelve equal quarterly installments ending April 2, 2028, assuming continued employment. Each unit can settle into one common share, cash equivalent, or a combination, at BlackBerry Limited’s discretion, as described in the footnotes.

Was currency conversion involved in Philip S. Kurtz’s BlackBerry (BB) share sale prices?

Yes. The reported sale prices in the filing were converted from Canadian dollars to U.S. dollars. The conversion used the Bank of Canada exchange rate on the transaction date, so the U.S. dollar prices shown reflect that specific daily exchange rate.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/06/2026 - 04:47 PM Learn about SEC filing dates

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^*

Kurtz Philip S.

(Last) (First) (Middle)

C/O BLACKBERRY LIMITED

2200 UNIVERSITY AVENUE EAST

(Street)

WATERLOO N2K 0A7

(City) (State) (Zip)

ONTARIO, CANADA

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CLO & Corp. Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026

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

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

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

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
Common Shares	07/02/2026		M		7,375	A	(1)	124,859	D
Common Shares	07/02/2026		S		4,195	D(2)	$11.56(3)(4)	120,664	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
Restricted Share Units	(1)	07/02/2026		M			7,375	(5)	(5)	Common Shares	7,375	(1)	51,620	D

Explanation of Responses:

1. Each unit represents a contingent right to receive one common share or an equivalent amount of cash, or a combination of the two, at the discretion of BlackBerry Limited.

2. Sales to cover withholding taxes upon vesting of Restricted Share Units ("RSUs")".

3. The price reported was converted from Canadian dollars to U.S. dollars using the Bank of Canada exchange rate on the transaction date.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.40 to $11.65, exclusive of any fees, commissions or other expenses. The Reporting Person undertakes to provide BlackBerry, any shareholder of BlackBerry, or the Staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. This award was granted on April 2, 2025, and assuming continued employment through the applicable vesting date, vests in twelve equal quarterly installments ending April 2, 2028.

Remarks:

	/s/ Fraser Deziel, Attorney-in-Fact for Phil Kurtz	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)