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., executed sales of common stock on September 16 and 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Kevin McDearis, an EVP & Chief Technology Officer at Blackbaud Inc., sold shares of common stock on September 16 and 17, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on May 24, 2024.
- On September 16, 2024, 3,210 shares were sold at a weighted average price of $85.1604, with prices ranging from $85.00 to $85.42.
- On September 17, 2024, 1,412 shares were sold at a weighted average price of $85.0675, with prices ranging from $85.00 to $85.2872.
- Following these transactions, McDearis directly owns 62,390 shares of Blackbaud Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This is a routine disclosure of insider trading activity. It is 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 may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 05/24/2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 09/16/2024 | Date of first transaction: Sale of 3,210 shares of Common Stock |
| 09/17/2024 | Date of second transaction: Sale of 1,412 shares of Common Stock |
| 09/18/2024 | Date of Form 4 filing |
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