Form 4: Blackbaud EVP Kevin McDearis Reports Stock Transactions Following PRSU Vesting

Kevin McDearis, EVP & Chief Technology Officer of Blackbaud Inc., reports the acquisition of 4,204 shares of common stock due to the vesting of performance-restricted stock units (PRSUs) and the subsequent disposal of shares to cover tax liabilities.

Summary

• On February 24, 2025, Kevin McDearis, EVP & Chief Technology Officer of Blackbaud Inc., acquired 4,204 shares of common stock due to the vesting of performance-restricted stock units (PRSUs) granted on February 24, 2022.
• The vesting was contingent upon Blackbaud achieving performance goals for the period ending December 31, 2024, and McDearis' continued employment.
• On February 25, 2025, McDearis disposed of 1,915 shares, 1,302 shares and 2,435 shares of common stock at a price of $68.9 per share to cover tax liabilities associated with the vesting of PRSUs and restricted stock granted on February 24, 2022.
• Following these transactions, McDearis beneficially owns 76,721 shares of Blackbaud Inc. common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment. The document primarily reports routine stock transactions related to executive compensation. The vesting of PRSUs suggests the company met its performance goals, which is mildly positive.

Positives

• The vesting of PRSUs indicates that Blackbaud achieved its performance goals for the period ending December 31, 2024.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock.

Stakeholder Impact

• The vesting of PRSUs and subsequent tax-related sales may have a minor impact on shareholders due to the increased number of shares in the market.

Key Dates