Form 4: BlackBerry Executive Philip S. Kurtz Reports Share Disposals and RSU Vesting

BlackBerry's CLO & Corp. Secretary, Philip S. Kurtz, reports the vesting of Restricted Share Units and subsequent disposal of shares to cover withholding taxes.

Summary

• On January 2, 2025, Philip S. Kurtz, CLO & Corp. Secretary of BlackBerry Ltd, reported transactions involving common shares and Restricted Share Units (RSUs).
• 19,437 RSUs vested, each representing a contingent right to receive one common share or an equivalent amount of cash, or a combination of both, at BlackBerry's discretion.
• 11,872 common shares were disposed of at a weighted average price of $3.7 to cover withholding taxes upon the vesting of the RSUs.
• The sales occurred in multiple transactions with prices ranging from $3.64 to $3.84.
• Following these transactions, Kurtz directly owns 37,694 common shares and 38,872 Restricted Share Units.
• The RSUs were granted on January 2, 2024, and vest in three equal annual installments ending January 2, 2027, assuming continued employment.

Sentiment

Score: 5

Explanation: The document reflects routine executive compensation activity. It's neutral from an investment perspective as it doesn't indicate any strategic shifts or financial performance issues.

Industry Context

Executive compensation through stock options and restricted share units is a common practice in the tech industry to align management's interests with those of shareholders. The sale of shares to cover taxes upon vesting is a routine transaction.

Stakeholder Impact

• The transactions have a minor impact on shareholders due to the small volume of shares involved.
• The vesting of RSUs is part of the executive compensation plan, impacting the executive's personal finances.

Key Dates