[SCHEDULE 13G/A] BLACKBAUD INC SEC Filing

Rhea-AI Filing Summary

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.

Positive

• Material stake disclosed: Vanguard reports 5,516,432 shares, or 11.37%, providing transparency to the market.
• Clear power breakdown: Filing details sole dispositive power of 5,209,213 shares and shared voting power of 258,949 shares.
• Certified passive intent: Statement affirms holdings are in the ordinary course and not for changing control.

Negative

• Significant concentration: Ownership above 5% may attract investor scrutiny or proxy attention.
• Shared voting power exists: 258,949 shares are subject to shared voting arrangements, which can complicate voting outcomes.

Insights

Institutional Ownership Analyst

Vanguard holds a material passive stake of 11.37% in Blackbaud.

The filing shows an aggregate beneficial ownership of 5,516,432 shares, representing 11.37% of outstanding common stock, which exceeds the 5% reporting threshold and is material for investor ownership calculations. The split between voting and dispositive powers indicates Vanguard predominantly controls disposition decisions through sole dispositive power while shared voting power is modest at 258,949 shares.

Because the statement certifies holdings are maintained in the ordinary course and not for control, monitor any future amendments or Schedule 13D filings for changes in intent or voting arrangements over the next quarters.

Regulatory & Compliance Specialist

Filing appears compliant and routine for an investment adviser exceeding 5% ownership.

The Schedule 13G amendment format and the certification language indicate a passive investor status under the applicable rules, consistent with an investment adviser classification. The filing provides issuer address, CUSIP, and detailed power breakdowns as required.

Investors should watch for any filings changing to Schedule 13D or disclosures that alter the stated ordinary-course intent, which would materially change regulatory obligations and market signaling within typical reporting windows.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 17)

Blackbaud Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

09227Q100

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 09227Q100

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 258,949.00
7	Sole Dispositive Power 5,209,213.00
8	Shared Dispositive Power 307,219.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,516,432.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.37 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Blackbaud Inc
(b)	Address of issuer's principal executive offices: 65 Fairchild Street, Daniel Island, SC, 29492
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 09227Q100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5516432
(b)	Percent of class: 11.37 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 258949
	(iii) Sole power to dispose or to direct the disposition of: 5209213
	(iv) Shared power to dispose or to direct the disposition of: 307219
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	10/06/2025

FAQ

What stake does Vanguard report in Blackbaud (BLKB)?

The filing reports an aggregate beneficial ownership of 5,516,432 shares, representing 11.37% of Blackbaud common stock.

Does Vanguard have voting control over BLKB shares?

Vanguard reports 0 shares with sole voting power and 258,949 shares with shared voting power; it holds sole dispositive power over 5,209,213 shares.

Is this filing a Schedule 13G or 13D for BLKB?

This submission is an amendment to a Schedule 13G, indicating a passive investor filing under the applicable rules.

Does the filing indicate Vanguard intends to change control of Blackbaud?

No. The certification states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.

When was the Schedule 13G/A signed for BLKB?

The document is signed by Ashley Grim, Head of Global Fund Administration, dated 10/06/2025.