Blackbaud Inc SEC Filings

Blackbaud (BLKB) reported an insider equity update via an amended Form 4. The company’s EVP and Chief Operating Officer recorded equity changes tied to performance RSUs on 08/05/2025.

On that date, 3,400 shares of common stock were acquired at $0 upon PRSU vesting, following the Compensation Committee’s determination based on performance goals for the period ended December 31, 2024, subject to continued employment. To cover tax liabilities from a separate PRSU vesting, 1,549 shares were forfeited to the issuer at $63.12.

This Form 4/A corrects an earlier filing that had inadvertently reported 928 shares as forfeited. After the reported transactions, the officer beneficially owned 109,985 shares directly.

Blackbaud reported Q3 2025 results showing stronger profitability on slightly lower revenue. Revenue was $281.1 million versus $286.6 million a year ago, while income from operations rose to $54.6 million from $41.1 million. Net income increased to $47.5 million from $18.3 million, with diluted EPS of $0.98 versus $0.35.

The effective tax rate improved to (15.7)%, primarily from a valuation allowance reduction and the One Big Beautiful Bill Act’s treatment of U.S. R&D expensing. Year‑to‑date cash from operations was $207.5 million. Total debt was $1.07 billion with a 5.61% weighted average effective rate. Deferred revenue totaled $384.9 million.

The company repurchased 459,528 shares for $30.1 million in Q3 and $130.2 million year‑to‑date, with $514.4 million remaining under its authorization. Blackbaud revised prior periods to correct a $15.5 million deferred tax liability error, which was not material to those periods. Customer constituent class actions related to the 2020 security incident are resolved and closed; certain insurance carrier subrogation appeals remain pending.

Blackbaud, Inc. (BLKB) furnished an 8-K announcing it issued a press release reporting unaudited financial results for the quarter ended September 30, 2025. The press release is included as Exhibit 99.1. The company states this information is being furnished and shall not be deemed “filed” under Section 18 of the Exchange Act, nor incorporated by reference into other filings unless expressly set forth.

The Vanguard Group filed an amendment to a Schedule 13G reporting ownership of 5,516,432 shares of Blackbaud Inc. common stock, equal to 11.37% of the class as of 09/30/2025. Vanguard reports 0 shares with sole voting power and 258,949 shares with shared voting power, while retaining 5,209,213 shares with sole dispositive power and 307,219 shares with shared dispositive power.

The filing states these holdings are managed in the ordinary course of business and are not intended to change or influence control of the issuer. The filing identifies Vanguard as an investment adviser organized in Pennsylvania and signed by Ashley Grim on 10/06/2025.

Director Deneen DeFiore reported a sale of 4,000 shares of Blackbaud, Inc. (BLKB) on 08/29/2025 at a price of $66.6114 per share, reducing her direct holdings to 10,069 shares. The Form 4 was signed by an attorney-in-fact on 09/03/2025. The filing discloses the transaction details required under Section 16 and shows the director disposed of roughly 28.4% of her previously held shares.

Blackbaud, Inc. (BLKB) Form 144 notice: An officer or other person affiliated with the company reported a proposed sale of 4,000 common shares through Merrill Lynch, valued at $266,445.60, with an approximate sale date of 08/29/2025 on NASDAQ. The shares were acquired on 08/01/2023 via vesting of a stock award from Blackbaud, Inc., and the acquisition was compensatory in nature. The filer reports 48,509,032 shares outstanding, so the proposed sale represents a very small fraction of total shares outstanding. No sales by the filer in the past three months were reported. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Rupal S. Hollenbeck, a director of Blackbaud Inc. (BLKB), reported a direct sale of 2,500 common shares on 08/08/2025 at $63.98 per share. After the disposition, the report shows she beneficially owns 7,966 shares directly. The filing records a straightforward, non-derivative disposition reported on Form 4, indicating a routine insider sale rather than any options or complex securities activity.

Blackbaud, Inc. (BLKB) filed a Form 144 reporting a proposed sale of 2,500 common shares to be executed through Merrill Lynch on the NASDAQ with an aggregate market value of $159,950. The securities were acquired on 08/01/2025 upon the vesting of a stock award from Blackbaud, Inc., and the transaction is described as a compensatory payment. The approximate date of sale is listed as 08/08/2025. The filing also discloses there were no securities sold by the same person in the prior three months and includes the required representation that the seller does not possess undisclosed material adverse information about the issuer.