Form 4: Blackbaud Executive Benjamin David J Reports Stock Transactions
SEC Form 4 Filing
EVP, Chief Commercial Officer of Blackbaud, Benjamin David J, reports acquisition and disposal of common stock related to vesting of performance restricted stock units and tax liabilities.
Summary
- On February 26, 2024, Benjamin David J, EVP, Chief Commercial Officer of Blackbaud Inc., reported transactions involving Blackbaud's common stock.
- 5,344 shares were acquired due to the vesting of performance restricted stock units (PRSUs) granted on February 24, 2022, at a price of $0.
- 2,487 shares were forfeited to cover tax liabilities related to the vesting of PRSUs granted on February 24, 2022, at a price of $68.61.
- 1,329 shares were forfeited to cover tax liabilities related to the vesting of PRSUs granted on February 24, 2022, at a price of $68.61.
- 2,688 shares were forfeited to cover tax liabilities related to the vesting of restricted stock granted on February 24, 2022, at a price of $68.61.
- Following these transactions, Benjamin David J beneficially owns 91,158 shares of Blackbaud common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reports routine stock transactions related to executive compensation. The vesting of PRSUs suggests positive performance, but the tax-related forfeitures are a standard occurrence.
Positives
- The vesting of PRSUs indicates that Blackbaud achieved certain performance goals for the period ended December 31, 2023.
Future Outlook
The remaining PRSUs granted on February 24, 2022, will vest dependent on the achievement of performance goals for the period ended December 31, 2024, subject to continued employment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of executive incentives with company performance.
Stakeholder Impact
- The vesting of PRSUs aligns executive compensation with company performance, potentially benefiting shareholders.
- The transactions themselves have a minimal direct impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/24/2022 | Date of grant for performance restricted stock units (PRSUs) and restricted stock. |
| 12/31/2023 | Period end date for performance goals related to PRSU vesting. |
| 02/26/2024 | Date of stock transactions (acquisition and disposal). |
| 02/28/2024 | Date of signature on the Form 4 filing. |
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