Earnings Feed
Start Free
BLACKBAUD INC·4

Feb 20, 5:54 PM ET

Gregoire Kevin P. 4

Research Summary

AI-generated summary

Updated

Blackbaud (BLKB) COO Kevin P. Gregoire Receives Awards, Forfeits Shares

What Happened

  • Kevin P. Gregoire, Chief Operating Officer of Blackbaud (BLKB), had performance-based restricted stock units (PRSUs) vest. On Feb 18, 2026 he was granted/received 4,910 shares (A, $0.00) and on Feb 19, 2026 he was granted/received 3,699 shares (A, $0.00) reflecting vested PRSUs. To satisfy tax withholding obligations, a total of 8,709 shares were forfeited/used to pay taxes (coded F) in transactions on Feb 19–20, 2026 at prices between $49.32 and $49.51, resulting in share-withholding proceeds of $429,952 (sum of reported disposal amounts).

Key Details

  • Transaction dates and amounts:
    • Feb 18, 2026: Award of 4,910 PRSU shares (A) at $0.00.
    • Feb 19, 2026: 2,227 shares forfeited (F) at $49.51 = $110,259; award of 3,699 PRSU shares (A) at $0.00.
    • Feb 20, 2026: 1,678 shares forfeited (F) at $49.32 = $82,759; 1,602 shares forfeited (F) at $49.32 = $79,011; 3,202 shares forfeited (F) at $49.32 = $157,923.
  • Total forfeited/withheld shares: 8,709; total value of those disposals reported: $429,952.
  • Shares owned after the transactions: not specified in the supplied filing details.
  • Relevant footnotes from the filing:
    • F1/F3: PRSUs granted Feb 18, 2025 and a portion granted Feb 19, 2025 vested in full on the respective 2026 anniversaries based on performance and continued employment.
    • F2/F4/F5: The reported disposals represent shares forfeited to Blackbaud to satisfy tax liabilities upon vesting (includes PRSUs and restricted stock).
  • Filing timeliness: Form filed Feb 20, 2026 for vesting and withholding that occurred Feb 18–20, 2026; this appears to be a timely Form 4 filing.

Context

  • These transactions reflect compensation vesting and routine tax-withholding (shares tendered/forfeited to the company), not open-market sales. When PRSUs vest, companies frequently withhold a portion of shares to cover taxes—this is coded as F (payment of exercise price or tax liability).
  • Such forfeitures are common after vesting and do not necessarily indicate a personal decision to sell shares on the open market. Purchases by insiders are typically a stronger signal of bullish sentiment than compensation-related forfeitures.