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BLACKBAUD INC·4

Feb 20, 5:56 PM ET

Olson Jon W 4

Research Summary

AI-generated summary

Updated

Blackbaud (BLKB) SVP Jon W. Olson Receives PRSUs; Forfeits Shares for Taxes

What Happened

  • Jon W. Olson, Senior Vice President and General Counsel of Blackbaud (BLKB), received equity awards (performance RSUs and restricted stock) that vested in mid-February 2026 and had a portion of shares forfeited to the company to satisfy tax withholding. Awarded shares: 3,367 (2/18/2026) and 1,708 (2/19/2026) at $0 (vested PRSUs). Shares forfeited/withheld to cover taxes (reported as disposals): 1,022 @ $49.51 (2/19/2026) and three withholdings on 2/20/2026 of 496, 519 and 990 shares @ $49.32 (total withholding value ≈ $149,486). Net shares retained from the vesting event (awarded minus withheld) = 5,075 awarded − 3,027 forfeited = 2,048 net shares.

Key Details

  • Transaction types: A = award/grant (vesting of PRSUs); F = shares forfeited/withheld to satisfy tax liabilities.
  • Dates & prices:
    • 2026-02-18: Award of 3,367 PRSUs (vested) @ $0 (F1 notes these were PRSUs from 2/18/2025 that vested 2/18/2026).
    • 2026-02-19: 1,022 shares forfeited @ $49.51 for tax withholding (proceeds $50,599).
    • 2026-02-19: Award of 1,708 PRSUs @ $0 (portion of Feb 19, 2025 grant vested; see F3).
    • 2026-02-20: 496 shares forfeited @ $49.32 ($24,463); 519 shares forfeited @ $49.32 ($25,597); 990 shares forfeited @ $49.32 ($48,827).
  • Total withholding/forfeiture: 3,027 shares for about $149,486.
  • Shares owned after transaction: not provided in the excerpt of the filing supplied here.
  • Filing timeliness: Form filed 2026-02-20 reporting transactions 2/18–2/20/2026 — appears timely (filed within standard Form 4 deadlines).
  • Relevant footnotes: F1–F5 explain these were PRSUs (and some restricted stock) granted in Feb 2025 that vested in Feb 2026 and that the reported disposals represent shares forfeited to the issuer to satisfy tax liabilities.

Context

  • This was not an open-market sale or purchase — it reflects vested equity awards and routine tax withholding (cashless/forfeiture to issuer) rather than a discretionary sale. Such withholdings are standard when restricted or performance shares vest and do not necessarily indicate a change in insider sentiment.