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 18,996 shares of common stock on August 30, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Kevin McDearis, the EVP & Chief Technology Officer of Blackbaud Inc. (BLKB), sold 18,996 shares of common stock on August 30, 2024.
- The sale was executed at a weighted average price of $82.9965 per share, with individual transactions occurring between $82.45 and $83.40.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on May 24, 2024.
- Following the sale, McDearis directly owns 67,012 shares of Blackbaud common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating an insider stock sale. It's neutral in sentiment as it simply reports a transaction.
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.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some investors, although the use of a 10b5-1 plan mitigates concerns about insider information.
Key Dates
| Date | Description |
|---|---|
| 05/24/2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 08/30/2024 | Date of the transaction (sale of common stock) |
| 09/04/2024 | Date of the Form 4 filing |
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