SEC Form 4 · accession 0001209191-15-030805
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
Mar 30, 2015
Accepted (ET)
Apr 1, 2015 · 5:16 pm EDT
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 Stock | Mar 30, 2015 | M | 6,375 | $22.34 | A | 54,988 | D | |
| Common Stock | Mar 30, 2015 | D | 2,999 | $47.50 | D | 51,989 | D | |
| Common Stock | Mar 30, 2015 | F | 1,160 | $47.50 | D | 50,829 | D | |
| Common Stock | Mar 30, 2015 | S | 2,216 | $47.50 | D | 48,613 | 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 RightF3 | $22.34 | Mar 30, 2015 | M | 6,375 | D | — | Nov 11, 2016 | Common Stock | 6,375 | 0 | D |
| Stock Appreciation RightF4 | $26.79 | holding | — | — | — | — | Nov 7, 2017 | Common Stock | 26,042 | 26,042 | D |
| Stock Appreciation RightF5 | $28.06 | holding | — | — | — | — | Nov 9, 2018 | Common Stock | 24,648 | 24,648 | D |
| Performance Stock Appreciation RightF6 | $22.24 | holding | — | — | — | — | Nov 5, 2019 | Common Stock | 86,358 | 86,358 | D |
Explanation of responses
- F1Represents shares forfeited to the company in connection with the satisfaction of tax liabilities incurred upon the exercise of stock appreciation rights.
- F2This exercise and sale was effected pursuant to a Rule 10b5-1 trading plan executed by the reporting person on February 20, 2015 and effective on March 2, 2015.
- F3Represents 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.
- F4Represents 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.
- F5Represents 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.
- F6Represents 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.