Anderson Chad 4

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.