Form 4: Blackbaud Director Acquires Restricted Stock Award

Blackbaud director Bradley L. Pyburn acquired 1,599 shares of restricted stock on December 4, 2024, which will vest on December 4, 2025, contingent on continued service as a director.

Summary

• Director Bradley L. Pyburn acquired 1,599 shares of Blackbaud common stock on December 4, 2024.
• The shares were granted as a restricted stock award.
• The shares will vest on December 4, 2025, provided Mr. Pyburn is still serving as a director at that time.
• The acquisition was a direct transaction.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction of a director receiving a restricted stock award, which is generally a positive sign of alignment with the company's long-term goals. There are no negative implications.

Positives

• The grant of restricted stock aligns the director's interests with the long-term performance of the company.
• The vesting period encourages continued service and commitment from the director.

Risks

• The shares will not vest if Mr. Pyburn ceases to be a director before December 4, 2025.

Future Outlook

The restricted stock award is contingent on the director's continued service, suggesting an expectation of his ongoing involvement with the company.

Industry Context

This type of equity grant is a common practice for aligning the interests of directors with the long-term success of the company, and is typical in the technology sector.

Comparison to Industry Standards

• Restricted stock awards are a standard form of compensation for directors in publicly traded companies, particularly in the technology sector.
• The vesting period of one year is also a common practice to ensure continued service and commitment from the director.
• Many companies such as Salesforce, Oracle, and SAP use similar equity-based compensation for their board members.

Stakeholder Impact

• The stock award aligns the director's interests with those of shareholders, encouraging long-term value creation.

Key Dates

Keywords

Blackbaud, Director, Restricted Stock, Stock Award, Vesting, Equity, BLKB