Form 4: Blackbaud EVP Kevin McDearis Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Kevin McDearis, EVP & Chief Technology Officer of Blackbaud Inc., sold a total of 4,577 shares of common stock on September 18 and 19, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Kevin McDearis, the EVP & Chief Technology Officer of Blackbaud Inc., reported the sale of company stock.
- On September 18, 2024, he sold 2,261 shares of common stock at a weighted average price of $85.1218 per share.
- On September 19, 2024, he sold 2,316 shares of common stock at a weighted average price of $85.1548 per share.
- These sales were executed under a Rule 10b5-1 trading plan adopted on May 24, 2024.
- Following these transactions, McDearis directly owns 57,813 shares of Blackbaud Inc.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock sales by an executive. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Future Outlook
The filing does not contain any forward-looking statements about the company's future performance.
Industry Context
This is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| May 24, 2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| September 18, 2024 | Date of first reported transaction: sale of 2,261 shares |
| September 19, 2024 | Date of second reported transaction: sale of 2,316 shares |
| September 20, 2024 | Date of signature on the Form 4 filing |
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