Form 4: Blackbaud CEO Michael Gianoni Reports Stock Transactions Following Vesting of Performance Restricted Stock Units
SEC Form 4 Filing
Michael Gianoni, President and CEO of Blackbaud Inc., reports acquisition and disposal of common stock related to vesting of performance restricted stock units and satisfaction of tax liabilities.
Summary
- On February 24, 2025, Michael Gianoni, President and CEO of Blackbaud Inc., acquired 15,285 shares of common stock due to the vesting of performance restricted stock units (PRSUs).
- These PRSUs were granted on February 24, 2022, and vested based on the Issuer achieving performance goals for the period ended December 31, 2024, subject to continued employment.
- On February 25, 2025, Gianoni disposed of 6,963 shares, 4,732 shares and 8,853 shares of common stock at a price of $68.9 per share to cover tax liabilities associated with the vesting of PRSUs and restricted stock granted on February 24, 2022.
- Following these transactions, Gianoni beneficially owns 387,985 shares of Blackbaud Inc. common stock.
Sentiment
Score: 6
Explanation: The document is neutral in sentiment as it primarily reports stock transactions related to executive compensation. The vesting of PRSUs suggests the company met its performance goals, which is mildly positive.
Positives
- The vesting of PRSUs indicates that Blackbaud achieved its performance goals for the period ended December 31, 2024.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- Shareholders may view the vesting of PRSUs as a positive sign, indicating the company achieved its performance targets.
- The transactions have a minimal direct impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| February 24, 2022 | Date of grant for the performance restricted stock units (PRSUs) and restricted stock. |
| December 31, 2024 | End of the performance period for the PRSUs. |
| February 24, 2025 | Date of vesting for the PRSUs, resulting in the acquisition of 15,285 shares. |
| February 25, 2025 | Date of disposal of shares to cover tax liabilities. |
| February 26, 2025 | Date of signature for the Form 4 filing. |
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