Form 4: Blackbaud EVP Kevin P. Gregoire Reports Stock Transactions Following Vesting of Performance Restricted Stock Units
SEC Form 4 Filing
EVP and Chief Operating Officer of Blackbaud, Kevin P. Gregoire, reports acquisition and disposal of common stock related to vesting of performance restricted stock units and satisfaction of tax liabilities.
Summary
- On February 24, 2025, Kevin P. Gregoire, EVP and Chief Operating Officer of Blackbaud Inc., acquired 4,204 shares of common stock due to the vesting of performance restricted stock units (PRSUs).
- These PRSUs were granted on February 24, 2022, and vested based on the company achieving performance goals for the period ending December 31, 2024.
- Gregoire also disposed of shares on February 25, 2025, to cover tax liabilities associated with the vesting of PRSUs and restricted stock granted on February 24, 2022.
- Specifically, 1,915 shares were forfeited at a price of $68.9, and 1,302 shares were forfeited at a price of $68.9 to cover tax liabilities from the vesting of separate PRSUs.
- An additional 2,435 shares were forfeited at a price of $68.9 to cover tax liabilities from the vesting of restricted stock.
- Following these transactions, Gregoire beneficially owns 119,156 shares of Blackbaud Inc. common stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the document primarily reports routine stock transactions related to executive compensation. The vesting of PRSUs suggests positive company performance, but the disposal of shares for tax liabilities is a standard procedure.
Positives
- The vesting of PRSUs indicates that Blackbaud achieved its performance goals for the period ended December 31, 2024.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. The vesting of PRSUs is tied to company performance, which is a common practice in executive compensation.
Stakeholder Impact
- Shareholders may view the vesting of PRSUs as a positive sign, indicating that the company met its performance goals.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 02/24/2022 | Date of original PRSU grant |
| 12/31/2024 | End of performance period for PRSU vesting |
| 02/24/2025 | Vesting date of PRSUs and acquisition of shares |
| 02/25/2025 | Date of share disposals for tax liabilities |
| 02/26/2025 | Date of Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.