Form 4: Blackbaud COO Gregoire's Equity Vesting & Tax Forfeitures

Blackbaud's COO, Kevin P. Gregoire, reported the vesting of performance restricted stock units and subsequent forfeiture of shares to cover tax liabilities.

Summary

• Kevin P. Gregoire, EVP, Chief Operating Officer of Blackbaud Inc. (BLKB), reported transactions on February 23, 2026.
• Acquired 3,457 shares of common stock due to the vesting of performance restricted stock units (PRSUs) granted on February 21, 2024, based on performance goals achieved for the period ended December 31, 2025.
• Forfeited a total of 5,966 shares of common stock at a price of $49.13 per share to satisfy tax liabilities incurred upon the vesting of separate PRSUs and restricted stock, both granted on February 21, 2024.
• Following these transactions, Gregoire's direct beneficial ownership of Blackbaud common stock is 137,194 shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting the achievement of performance goals and standard executive compensation practices, with no adverse implications.

Positives

• The vesting of 3,457 performance restricted stock units indicates that Blackbaud achieved specific performance goals for the period ended December 31, 2025.
• The equity vesting demonstrates management's continued alignment with shareholder interests through performance-based compensation.

Future Outlook

A portion of the remaining performance restricted stock units granted in 2024 will vest dependent on the achievement of performance goals for the period ending December 31, 2026, subject to continued employment.

Industry Context

StockSavvy.ai notes that equity compensation, particularly performance-based restricted stock units, is a common practice in the technology and software industry to align executive incentives with long-term company performance and shareholder value. The vesting of these units suggests Blackbaud met its internal performance targets for the specified period, which is generally a positive indicator for operational execution within the sector.

Comparison to Industry Standards

• StockSavvy.ai observes that the use of PRSUs tied to specific performance goals, as seen with Blackbaud, aligns with best practices in executive compensation across the S&P 500, including companies like Microsoft and Adobe, which also utilize performance-based equity to incentivize leadership.
• The forfeiture of shares for tax liabilities is a standard, non-discretionary event upon vesting, consistent with compensation structures at comparable software firms.

Stakeholder Impact

• Shareholders: Positive signal that performance goals were met, potentially indicating good operational execution.
• Employees (specifically Kevin P. Gregoire): Direct impact on personal equity holdings and compensation.

Next Steps

• Achievement of performance goals for the period ending December 31, 2026, for the remaining PRSUs granted in 2024.

Key Dates

Recommendation

This Form 4 reports routine insider transactions related to executive compensation (vesting and tax-related forfeitures). It indicates the company met certain performance goals, which is a positive operational sign. However, it does not contain new information significant enough to warrant a change in investment recommendation. It's a standard, expected event for an executive's equity compensation.

Keywords

Blackbaud, BLKB, Form 4, Insider Transaction, Equity Compensation, Restricted Stock Units, Performance Shares, Executive Compensation, Kevin Gregoire