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Blackbaud (NASDAQ: BLKB) CFO logs PRSU vesting and tax share forfeitures

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

BLACKBAUD INC Executive VP and CFO Chad Anderson reported routine equity compensation activity involving restricted stock and performance restricted stock units. On May 4, 2026, 616 shares of common stock were acquired at no cost upon the vesting of awards tied to the issuer's financial performance for the period ended December 31, 2025.

To cover related tax liabilities, 187 shares and 1,137 shares of common stock were forfeited back to the company at a reference price of $37.54 per share. After these non-market, tax-withholding dispositions and the award vesting, Anderson directly holds 68,645 shares of Blackbaud common stock.

Positive

  • None.

Negative

  • None.
Insider Anderson Chad
Role Executive VP and CFO
Type Security Shares Price Value
Tax Withholding Common Stock 1,137 $37.54 $43K
Grant/Award Common Stock 616 $0.00 --
Tax Withholding Common Stock 187 $37.54 $7K
Holdings After Transaction: Common Stock — 68,645 shares (Direct, null)
Footnotes (1)
  1. Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted May 2, 2025. Performance restricted stock units ("PRSUs") granted on May 2, 2025 that vested in full on May 4, 2026, based on the Issuer's overall financial performance for the period ended December 31, 2025, subject to continued employment. Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted May 2, 2025.
Tax-withholding forfeiture 1 187 shares Shares forfeited to issuer for tax liabilities at $37.54 per share
Tax-withholding forfeiture 2 1,137 shares Additional shares forfeited to issuer for tax liabilities at $37.54 per share
Total tax-withholding shares 1,324 shares Combined F-code tax-withholding dispositions reported in the filing
Award shares vested 616 shares Common stock acquired at $0.00 from vested performance-based awards
Reference share price $37.54 per share Price used for tax-withholding forfeiture transactions
Shares held after transactions 68,645 shares Direct Blackbaud common stock holdings following all reported entries
restricted stock financial
"Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Performance restricted stock units ("PRSUs") financial
"Performance restricted stock units ("PRSUs") granted on May 2, 2025 that vested in full on May 4, 2026"
vested in full financial
"PRSUs granted on May 2, 2025 that vested in full on May 4, 2026"
tax liabilities financial
"satisfaction of tax liabilities incurred upon the vesting of restricted stock granted May 2, 2025"
grant, award, or other acquisition financial
"transaction code description: Grant, award, or other acquisition"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Anderson Chad
(Last)(First)(Middle)
65 FAIRCHILD STREET
(Street)
CHARLESTON SOUTH CAROLINA 29492
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
BLACKBAUD INC [ BLKB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive VP and CFO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/04/2026F1,137(1)D$37.5468,645D
Common Stock05/04/2026A616(2)A$069,261D
Common Stock05/04/2026F187(3)D$37.5469,074D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted May 2, 2025.
2. Performance restricted stock units ("PRSUs") granted on May 2, 2025 that vested in full on May 4, 2026, based on the Issuer's overall financial performance for the period ended December 31, 2025, subject to continued employment.
3. Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted May 2, 2025.
Remarks:
/s/ S. Halle Vakani, Attorney-in-Fact05/06/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Blackbaud (BLKB) CFO Chad Anderson report?

Chad Anderson reported routine equity compensation events: 616 shares of common stock were acquired at no cost from vesting awards, while 1,324 shares were forfeited back to Blackbaud to satisfy tax liabilities, leaving him with 68,645 directly held shares.

Were Blackbaud (BLKB) CFO Chad Anderson’s Form 4 transactions open-market sales?

No, the reported dispositions were not open-market sales. They reflect 187 and 1,137 shares forfeited back to Blackbaud at $37.54 per share to cover tax liabilities triggered by vesting restricted stock and PRSUs, which is a common administrative mechanism.

How many Blackbaud (BLKB) shares does the CFO hold after these transactions?

After the reported vesting and tax-withholding forfeitures, Chad Anderson directly holds 68,645 shares of Blackbaud common stock. This figure reflects his updated ownership following the 616-share award acquisition and the combined 1,324-share tax-related dispositions.

What equity awards vested for Blackbaud (BLKB) CFO Chad Anderson?

The filing shows performance restricted stock units granted May 2, 2025 vested in full on May 4, 2026. Vesting was based on Blackbaud’s overall financial performance for the period ended December 31, 2025, and was also conditioned on Anderson’s continued employment with the company.

Why did Blackbaud (BLKB) CFO Chad Anderson forfeit shares in this Form 4?

The 187 and 1,137 forfeited shares were returned to Blackbaud to satisfy tax liabilities arising from the vesting of restricted stock and PRSUs. This tax-withholding disposition method delivers shares back to the issuer instead of paying cash for the withholding amount.