[Form 4] Blackbaud, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 08/01/2025, Blackbaud, Inc. (BLKB) director Bradley L. Pyburn disclosed the award of 3,670 restricted shares of common stock at no cost (Form 4 transaction code “A”) in a filing dated 08/05/2025. Following the grant, Pyburn’s direct ownership rises to 5,269 shares.

The award will vest on 08/01/2026, or immediately before Blackbaud’s 2026 annual director election if earlier, provided he remains a director. No derivative positions or dispositions were reported, indicating a routine equity-based board compensation event with negligible dilution.

Positive

• Increased insider ownership aligns director incentives with shareholder value, albeit at a small scale.

Negative

• None.

Insights

Corporate Governance Analyst

TL;DR: Routine director grant; minor share count; neutral financial impact, modest governance alignment.

This Form 4 records a standard equity retainer for outside director Bradley L. Pyburn. The 3,670-share grant represents an immaterial fraction of Blackbaud’s float and adds only 1,599 net shares to his holdings, lifting total ownership to 5,269 shares. Vesting is service-based, so the award modestly tightens director-shareholder alignment without cash outlay. Absence of sales or option exercises signals no negative insider sentiment. From a valuation perspective, dilution is de minimis; therefore, the filing is not materially impactful to investors, though governance observers may view the additional skin-in-the-game positively.

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^*

Pyburn Bradley L

(Last) (First) (Middle)

65 FAIRCHILD STREET

(Street)

CHARLESTON SC 29492

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACKBAUD INC [ BLKB ]

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)
08/01/2025

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 Stock	08/01/2025		A		3,670(1)	A	$0	5,269	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

Explanation of Responses:

1. Represents a restricted stock award, all of which shall vest on August 1, 2026 or, if earlier, immediately prior to the 2026 annual election of directors of the Company, provided that the reporting person is then serving as a director of the Company.

Remarks:

	/s/ S. Halle Vakani, Attorney-in-Fact	08/05/2025
	** 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

How many Blackbaud (BLKB) shares did Bradley L. Pyburn acquire?

The director received 3,670 restricted shares of common stock.

What was the transaction date for the BLKB Form 4 filing?

The shares were granted on 08/01/2025; the filing was submitted on 08/05/2025.

What is the vesting schedule for the new restricted shares?

All shares vest on 08/01/2026 or immediately before the 2026 annual director election, contingent on continued board service.

How many BLKB shares does Pyburn own after this grant?

He now beneficially owns 5,269 shares directly.

Were any derivative securities or sales reported?

No; the filing lists no derivatives, sales, or other dispositions.