SEC Form 4 · accession 0001209191-15-077806
BLACKBAUD INC · BLKB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles T Cumbaa
Officer — EVP Corp. & Prod. Strategy
Period of report
Oct 29, 2015
Accepted (ET)
Nov 2, 2015 · 4:52 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 Stock | Oct 29, 2015 | S | 5,000 | $65.00 | D | 43,313 | D | |
| Common Stock | holding | — | — | — | 2,100 | I | By Chelsea Michelle Cumbaa Irrevocable Trust | |
| Common Stock | holding | — | — | — | 2,100 | 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 RightF2 | $26.79 | holding | — | — | — | — | Nov 7, 2017 | Common Stock | 16,042 | 16,042 | D |
| Stock Appreciation RightF3 | $28.06 | holding | — | — | — | — | Nov 9, 2018 | Common Stock | 24,648 | 24,648 | D |
| Performance Stock Appreciation RightF4 | $22.24 | holding | — | — | — | — | Nov 5, 2019 | Common Stock | 86,358 | 86,358 | D |
Explanation of responses
- F1This sale was effected pursuant to a Rule 10b5-1 trading plan executed by the reporting person on August 12, 2015 and effective on August 19, 2015.
- F2Represents 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.
- F3Represents 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.
- F4Represents 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.