Form 4: Blackbaud CFO Anthony Boor Reports Stock Transactions Following Vesting of Performance Restricted Stock Units

Anthony Boor, CFO of Blackbaud Inc., reports the acquisition and disposal of common stock related to the vesting of performance restricted stock units and the satisfaction of tax liabilities.

Summary

• On February 24, 2025, Anthony Boor, CFO of Blackbaud Inc., acquired 5,733 shares of common stock due to the vesting of performance restricted stock units (PRSUs) granted on February 24, 2022.
• The vesting was contingent upon Blackbaud achieving performance goals for the period ending December 31, 2024, and Boor's continued employment.
• On February 25, 2025, Boor disposed of 2,399 shares at $68.9 to cover tax liabilities related to the vesting of PRSUs granted on February 24, 2022.
• Additionally, 1,630 shares were forfeited at $68.9 to cover tax liabilities related to the vesting of PRSUs granted February 24, 2022.
• Another 3,049 shares were forfeited at $68.9 to cover tax liabilities related to the vesting of restricted stock granted February 24, 2022.
• Following these transactions, Boor directly owns 166,266 shares of Blackbaud common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document primarily reports routine stock transactions related to executive compensation. The vesting of PRSUs suggests positive performance, but the subsequent sale for tax liabilities balances the overall sentiment.

Positives

• The vesting of PRSUs indicates that Blackbaud achieved its performance goals for the period ending December 31, 2024.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and are common across all publicly traded companies. This filing provides transparency into the trading activities of Blackbaud's CFO.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for all publicly traded companies in the United States, ensuring transparency in insider trading.
• Similar filings are made by executives at comparable companies like Salesforce (CRM) and Oracle (ORCL) when they engage in transactions involving their company's stock.
• The details disclosed in this Form 4 are consistent with the level of information typically provided in such filings, including the number of shares acquired or disposed of, the transaction price, and the reason for the transaction (e.g., vesting of stock options or tax liability coverage).

Stakeholder Impact

• The vesting of PRSUs and subsequent stock transactions have a minor impact on shareholders, as they reflect standard executive compensation practices.
• Employees who hold similar equity grants may view the vesting as a positive sign of company performance.

Key Dates