Form 4: Blackbaud CFO Anthony Boor Sells Shares Under 10b5-1 Trading Plan

Blackbaud's CFO, Anthony W. Boor, executed sales of common stock between March 7 and March 11, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Anthony W. Boor, CFO of Blackbaud Inc., sold shares of common stock between March 7 and March 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on November 7, 2023.
• On March 7, 2024, 4,955 shares were sold at a weighted average price of $74.0607.
• On March 8, 2024, 4,616 shares were sold at a weighted average price of $74.222.
• On March 11, 2024, 429 shares were sold at a price of $74.
• Following these transactions, Boor directly owns 161,368 shares of Blackbaud Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions were pre-planned under a 10b5-1 trading plan and do not necessarily reflect a change in the CFO's confidence in the company.

Industry Context

Insider sales are a common occurrence, and the use of 10b5-1 plans allows corporate insiders to sell shares over a predetermined period, mitigating concerns about trading on non-public information. The market typically views these sales in the context of the executive's overall holdings and the company's performance.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• Employees may perceive the stock sales as a neutral event, given the pre-planned nature of the transactions.

Key Dates