SEC Form 4 · accession 0001209191-15-014542
BLACKBAUD INC · BLKB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles T Cumbaa
Officer — SVP of Business Development
Period of report
Feb 13, 2015
Accepted (ET)
Feb 17, 2015 · 4:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001280058
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 13, 2015 | A | 17,111 | $0.00 | A | 47,698 | D | |
| Common StockF2 | Feb 13, 2015 | A | 4,573 | $0.00 | A | 52,271 | D | |
| Common StockF3 | Feb 17, 2015 | F | 1,658 | $44.45 | D | 50,613 | D | |
| Common Stock | holding | — | — | — | 1,950 | I | By Chelsea Michelle Cumbaa Irrevocable Trust | |
| Common Stock | holding | — | — | — | 1,950 | I | By Alexander Thomas Cumbaa Irrevocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF4 | $22.34 | holding | — | — | — | — | Nov 11, 2016 | Common Stock | 6,375 | 6,375 | D |
| Stock Appreciation RightF5 | $26.79 | holding | — | — | — | — | Nov 7, 2017 | Common Stock | 26,042 | 26,042 | D |
| Stock Appreciation RightF6 | $28.06 | holding | — | — | — | — | Nov 9, 2018 | Common Stock | 24,648 | 24,648 | D |
| Performance Stock Appreciation RightF7 | $22.24 | holding | — | — | — | — | Nov 5, 2019 | Common Stock | 86,358 | 86,358 | D |
Explanation of responses
- F1Represents a restricted stock award which vests in four equal annual installments beginning on February 13, 2016, subject to continued employment.
- F2On February 13, 2015, the Compensation Committee determined that these performance based restricted stock units ("PRSUs") vested based on the Issuer achieving performance goals for the period ending December 31, 2014, for PRSUs granted in 2014.
- F3Represents shares forfeited to the Issuer in connection with the satisfaction of tax liabilities incurred upon the vesting of the PRSUs.
- F4Represents a stock appreciation right which vested in four equal annual installments beginning on November 10, 2010, subject to continued employment, and shall be settled in stock at time of exercise.
- F5Represents a stock appreciation right which vested in four equal annual installments beginning on November 8, 2011, subject to continued employment, and shall be settled in stock at time of exercise.
- F6Represents a stock appreciation right which vests in four equal annual installments beginning on November 10, 2012, subject to continued employment, and shall be settled in stock at time of exercise.
- F7Represents a performance stock appreciation right ("PSAR") which vests in four equal annual installments beginning on November 6, 2013 since the Issuer maintained a 25% increase in its stock price over $22.24 for 30 consecutive days prior to November 6, 2013. The PSARs shall only vest subject to continued employment and shall be settled in stock at the time of exercise.