[Form 4] BLACKBERRY Ltd Insider Trading Activity

Rhea-AI Filing Summary

BlackBerry Limited (BB) reporting person Philip S. Kurtz, Chief Legal Officer and Corporate Secretary, recorded both an acquisition and a sale of common shares on 10/02/2025. He received 7,375 RSUs that convert to common shares (or cash at the company's discretion), increasing his direct beneficial ownership to 102,843 shares. Concurrently, 4,345 shares were sold at a weighted average price of $4.61 (converted from CAD) to cover withholding taxes on vesting. The RSU award was originally granted on April 2, 2025 and vests quarterly through April 2, 2028.

The filing clarifies that the RSUs are contingent rights to receive shares or equivalent cash and that the reported sale price reflects multiple transactions between $4.57 and $4.67. Following these routine compensation-related transactions, the reporting person remains a significant insider with continued direct ownership of shares.

Positive

• 7,375 RSUs vested/included on 10/02/2025, increasing insider stake to 102,843 shares
• RSU award has scheduled quarterly vesting through April 2, 2028, aligning executive incentives with future performance

Negative

• 4,345 shares were sold on 10/02/2025 at a weighted avg price of $4.61, reducing direct holdings
• Sale occurred in multiple transactions across $4.57–$4.67, indicating partial liquidity realized upon vesting

Insights

Corporate Governance Expert

Routine compensation vesting and tax-withholding sale; signals continued insider alignment with ownership.

The transaction shows a standard executive compensation mechanics: 7,375 RSUs vested (or were deemed acquired) on 10/02/2025, increasing direct holdings to 102,843 shares. The RSUs are contingent rights convertible to shares or cash, granted April 2, 2025, with scheduled quarterly vesting through April 2, 2028.

To cover withholding taxes, 4,345 shares were sold at a weighted average of $4.61, executed across prices from $4.57 to $4.67. This is a common tax-offset action and does not by itself indicate a change in long-term insider alignment; monitor future filings for additional sales or departures over the next 12–36 months.

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

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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 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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
Common Shares	10/02/2025		M		7,375	A	(1)	102,843	D
Common Shares	10/02/2025		S		4,345	D(2)	$4.61(3)(4)	98,498	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)	10/02/2025		M			7,375	(5)	(5)	Common Shares	7,375	(1)	73,745	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 $4.57 to $4.67, 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	10/06/2025
	** 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 the BlackBerry (BB) Form 4 filed by Philip S. Kurtz report?

It reported acquisition of 7,375 RSUs and the sale of 4,345 shares on 10/02/2025, leaving 102,843 shares beneficially owned.

Why were shares sold in the Form 4 for BB?

The filing states the sales were to cover withholding taxes due upon RSU vesting.

At what price were the BB shares sold by the insider?

The weighted average sale price was $4.61, with individual trades ranging from $4.57 to $4.67.

When do the newly granted RSUs fully vest for the reporting person?

The RSU award vests in twelve equal quarterly installments ending on April 2, 2028.

Do the RSUs convert to shares or cash?

Each RSU represents a contingent right to receive one common share or an equivalent cash amount at the discretion of BlackBerry Limited.