Form 4: Blackbaud CFO Anthony Boor Reports Stock Transactions Following Vesting of Performance Restricted Stock Units
SEC Form 4 Filing
Anthony Boor, CFO of Blackbaud Inc., reports acquisition and disposal of common stock related to the vesting of performance restricted stock units and satisfaction of tax liabilities.
Summary
- On February 26, 2024, Anthony Boor, CFO of Blackbaud Inc., reported transactions involving Blackbaud's common stock.
- These transactions include the acquisition of 7,288 shares upon the vesting of performance restricted stock units (PRSUs) granted on February 24, 2022.
- The vesting was contingent upon the company achieving performance goals for the period ending December 31, 2023.
- Boor also disposed of shares to cover tax liabilities associated with the vesting of PRSUs and restricted stock granted on February 24, 2022.
- Specifically, 3,058 shares and 1,635 shares were forfeited to cover tax liabilities related to the vesting of PRSUs, and 3,057 shares were forfeited for tax liabilities related to restricted stock vesting, all at a price of $68.61.
- Following these transactions, Boor directly owns 171,368 shares of Blackbaud common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports stock transactions related to vesting and tax obligations. The vesting itself suggests positive performance, but the tax-related disposals are a normal part of executive compensation.
Positives
- The vesting of PRSUs indicates that Blackbaud achieved certain performance goals for the period ended December 31, 2023.
Future Outlook
The remaining PRSUs granted on February 24, 2022, will vest dependent on the achievement of performance goals for the period ended December 31, 2024, subject to continued employment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can be informative for investors.
Stakeholder Impact
- Shareholders may view the vesting of PRSUs as a positive sign, indicating the company met its performance goals.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 02/24/2022 | Date of grant for performance restricted stock units (PRSUs) and restricted stock. |
| 12/31/2023 | End of performance period for a portion of the PRSUs granted on February 24, 2022. |
| 02/26/2024 | Date of stock transactions: acquisition of shares from vested PRSUs and disposal of shares for tax liabilities. |
| 02/28/2024 | Date of signature for the Form 4 filing. |
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