Form 4: Blackbaud EVP Kevin McDearis Sells Shares Under 10b5-1 Plan

Kevin McDearis, EVP & Chief Technology Officer of Blackbaud Inc., sold 3,479 shares of common stock at a weighted average price of $71.9416 on March 6, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 6, 2024, Kevin McDearis, the EVP & Chief Technology Officer of Blackbaud Inc. (BLKB), sold 3,479 shares of the company's common stock.
• The sale was executed at a weighted average price of $71.9416 per share, with individual transaction prices ranging from $71.4667 to $72.2256.
• Following the transaction, McDearis directly owns 86,008 shares of Blackbaud Inc.
• The sale was conducted under a Rule 10b5-1 trading plan adopted on November 17, 2023.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-existing 10b5-1 plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on any specific non-public information. Investors often monitor insider transactions for signals about a company's prospects, but sales under 10b5-1 plans are generally viewed as less informative.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates