Form 4: Blackbaud COO Gregoire Reports Vesting, Tax-Related Share Transactions

Blackbaud's EVP and COO, Kevin P. Gregoire, reported the vesting of performance-restricted stock units and subsequent share forfeitures for tax obligations.

Summary

• Kevin P. Gregoire, EVP, Chief Operating Officer of Blackbaud Inc. (BLKB), reported multiple transactions involving the company's common stock.
• On February 18, 2026, Gregoire acquired 4,910 shares of common stock at $0.00 per share due to the vesting of performance restricted stock units (PRSUs) granted on February 18, 2025.
• On February 19, 2026, 2,227 shares were forfeited to the Issuer at $49.51 per share to satisfy tax liabilities related to the vesting of PRSUs granted on February 18, 2025.
• Also on February 19, 2026, Gregoire acquired 3,699 shares of common stock at $0.00 per share as a portion of PRSUs granted on February 19, 2025, vested due to the Issuer achieving performance goals for the period ended December 31, 2025.
• On February 20, 2026, a total of 6,482 shares (1,678 + 1,602 + 3,202) were forfeited to the Issuer at $49.32 per share to cover tax liabilities incurred upon the vesting of separate PRSUs and restricted stock granted on February 19, 2025.
• Following these transactions, Gregoire's direct beneficial ownership of Blackbaud common stock stands at 139,703 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, reflecting routine executive compensation events (vesting and tax-related forfeitures) that do not indicate any significant positive or negative operational or financial developments for Blackbaud.

Positives

• Kevin P. Gregoire's performance restricted stock units (PRSUs) and restricted stock vested, indicating the achievement of performance goals for the period ended December 31, 2025.
• The vesting of 4,910 shares and 3,699 shares (totaling 8,609 shares) at a price of $0.00 represents a significant compensation event for the executive.

Negatives

• A total of 8,709 shares were forfeited to the Issuer to satisfy tax liabilities incurred upon the vesting of the equity awards, reducing the net shares retained by the executive.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine Form 4 filings, such as this one, are common disclosures for executives receiving equity-based compensation. These transactions reflect the standard vesting schedules and tax obligations associated with performance-based awards, rather than discretionary trading decisions that might signal a change in management's outlook on the company or industry.

Stakeholder Impact

• Shareholders: The vesting of performance-based awards aligns executive incentives with shareholder value creation, as the awards vested due to the company achieving performance goals. The subsequent sale of shares for tax purposes is a routine event and does not typically signal a change in the executive's confidence.
• Employees: The vesting of equity awards demonstrates the company's commitment to its compensation plans, which can positively impact employee morale and retention, especially for those with similar equity grants.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events, specifically the vesting of performance-based equity awards and subsequent share forfeitures for tax obligations. These pre-scheduled transactions do not provide new fundamental information about Blackbaud's operational performance or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on broader company fundamentals rather than these specific insider transactions.

Keywords

Blackbaud, BLKB, Form 4, Insider Trading, Executive Compensation, Stock Vesting, Restricted Stock Units, Performance Shares, Officer Transactions, Kevin Gregoire