Blackbaud CFO Chad Anderson Withholds Shares for Taxes

What Happened Chad Anderson, Executive Vice President and Chief Financial Officer of Blackbaud (BLKB), forfeited a total of 986 shares back to the company as tax-withholding on vested restricted stock. On 2025-08-14 he forfeited 397 shares at $63.18 each (value $25,082). On 2026-08-14 he forfeited 589 shares at $46.21 each (value $27,218). These were share-withholdings to cover tax liabilities rather than open-market sales.

Key Details

• Transaction dates and amounts:
  • 2025-08-14: 397 shares withheld at $63.18 — $25,082
  • 2026-08-14: 589 shares withheld at $46.21 — $27,218
• Total shares forfeited: 986; total value ≈ $52,300.
• Shares owned after the transactions: not reported in the provided filing.
• Footnote: F1 — shares were forfeited to the issuer to satisfy tax liabilities incurred upon vesting of restricted stock granted August 13, 2024.
• Filing timing: the Form 4 was filed on 2026-08-18. The 2025-08-14 withholding was reported about one year later (i.e., appears late); the 2026-08-14 withholding is included in the same filing.

Context Share forfeitures for tax withholding are a routine administrative step when restricted stock or RSUs vest and do not necessarily indicate a manager’s view of the company’s prospects. This is not an open-market sale by the insider; the company received the forfeited shares to satisfy withholding obligations.