Anderson Chad 4
4 · BLACKBAUD INC · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Blackbaud (BLKB) CFO Chad Anderson Receives Award; Sells Shares for Taxes
What Happened
Chad Anderson, Executive VP and CFO of Blackbaud, had performance restricted stock units (PRSUs) vest on May 4, 2026, resulting in the acquisition of 616 shares (reported at $0). To satisfy tax withholding obligations, Anderson forfeited/surrendered 1,137 shares and 187 shares back to the company at $37.54 each, producing proceeds of $42,683 and $7,020 respectively (total forfeiture value ≈ $49,703). These disposals were tax-withholding transactions, not open-market sales.
Key Details
- Transaction dates: May 4, 2026 (vesting and withholding); Form 4 filed May 6, 2026.
- Prices and amounts: 616 shares acquired (grant) at $0; 1,137 shares forfeited @ $37.54 = $42,683; 187 shares forfeited @ $37.54 = $7,020.
- Shares owned after transaction: not reported in this Form 4.
- Footnotes: F2 confirms PRSUs granted May 2, 2025 vested in full on May 4, 2026; F1 and F3 indicate shares were forfeited to the issuer to satisfy tax liabilities from RS and PRSU vesting.
- Timeliness: Filing appears prompt (transaction 5/4/2026, filed 5/6/2026).
Context
This was primarily an award vesting event (PRSUs) combined with share forfeitures to cover withholding taxes — a routine administrative action. The forfeitures are tax-related and should not be interpreted as a voluntary open-market sale indicating insider sentiment.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-05-04$37.54/sh−1,137$42,683→ 68,645 total - Award
Common Stock
[F2]2026-05-04+616→ 69,261 total - Tax Payment
Common Stock
[F3]2026-05-04$37.54/sh−187$7,020→ 69,074 total
Footnotes (3)
- [F1]Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of restricted stock granted May 2, 2025.
- [F2]Performance restricted stock units ("PRSUs") granted on May 2, 2025 that vested in full on May 4, 2026, based on the Issuer's overall financial performance for the period ended December 31, 2025, subject to continued employment.
- [F3]Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of PRSUs granted May 2, 2025.