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|4Feb 18, 7:17 PM ET

Benjamin David J 4

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Blackbaud (BLKB) EVP Benjamin David J Receives Awards, Forfeits Shares

What Happened
Benjamin David J, Executive Vice President and Chief Commercial Officer of Blackbaud (BLKB), received equity awards and had shares withheld to satisfy tax obligations. On Feb 13, 2026 he was credited with 4,884 shares (award), and on Feb 17, 2026 he was credited with 30,260 shares (award) — total awards = 35,144 shares (awarded at $0.00). On Feb 17, 2026 a total of 7,042 shares were forfeited/retained by the company to satisfy tax liabilities related to vesting: 1,693 shares ($83,092), 2,247 shares ($110,283) and 3,102 shares ($152,246) — combined tax withholding = $345,621 (priced at $49.08/share). These disposals were tax-withholdings (routine), not open-market sales.

Key Details

  • Transaction dates and prices:
    • 2026-02-13: Award of 4,884 shares at $0.00.
    • 2026-02-17: Award of 30,260 shares at $0.00.
    • 2026-02-17: 1,693 / 2,247 / 3,102 shares forfeited at $49.08 each to cover taxes (total $345,621).
  • Shares acquired (total): 35,144 shares from awards.
  • Shares forfeited for taxes (total): 7,042 shares.
  • Shares owned after the transactions: Not reported in the provided excerpt of the Form 4.
  • Notable footnotes:
    • F1: Portion of PRSUs granted 2/13/2023 vested in full on 2/13/2026 based on performance through 12/31/2025 (subject to continued employment).
    • F2/F3: The disposals represent shares forfeited to satisfy tax liabilities upon vesting of PRSUs and restricted stock.
    • F4: The restricted stock award referenced vests in three equal annual installments beginning 2/17/2027, subject to continued employment.
  • Filing timeliness: Form filed 2026-02-18 for transactions through 2026-02-17; no late filing is indicated in the provided record.

Context
These transactions reflect vested performance-restricted stock units (PRSUs) and a restricted stock award rather than open-market trades. The forfeitures are tax-withholding (company-retained) shares to satisfy payroll/tax obligations — a routine administrative action that reduces the net shares received by the insider and does not necessarily indicate a decision to sell shares on the market.