BLACKBAUD INC 10-K

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our common stock is trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “BLKB.” According to the records of our transfer agent, as of February 9, 2026, there were approximately 95 stockholders of record of our common stock. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, this number is not representative of the total number of beneficial owners of our stock. On February 9, 2026, the closing price of our common stock was $48.25. Stock Performance Graph The following performance graph shall not be deemed to be “soliciting material” or “filed” or incorporated by reference in future filings with the SEC, or subject to the liabilities of Section 18 of the Exchange Act except as shall be expressly set forth by specific reference in such filing. The performance graph compares the performance of our common stock to the Nasdaq Composite Index and the Nasdaq Computer Index. The graph covers the most recent five-year period ended December 31, 2025. The graph assumes that the value of the investment in our common stock and each index was $100.00 at December 31, 2020, and that all dividends are reinvested. December 31, 2020 2021 2022 2023 2024 2025 Blackbaud, Inc. $100.00 $137.21 $102.26 $150.63 $128.42 $110.01 Nasdaq Composite Index 100.00 122.18 82.43 119.22 154.48 187.14 Nasdaq Computer Index 100.00 127.00 82.52 135.30 180.76 232.70 36 2025 Form 10-K Table of Contents Blackbaud, Inc. Issuer Purchases of Equity Securities The following table provides information about shares of common stock acquired or repurchased during the three months ended December 31, 2025 under our stock repurchase program as then in effect, as well as common stock withheld by us to satisfy the minimum tax obligations of employees due upon vesting of restricted stock awards and units. Period Total number of shares purchased (1) Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs (in thousands) (2) Beginning balance, October 1, 2025 $ 514,399 October 1, 2025 through October 31, 2025 250,738 $ 64.15 249,464 498,394 November 1, 2025 through November 30, 2025 458,121 58.50 455,939 471,724 December 1, 2025 through December 31, 2025 660,648 62.34 659,891 960,569 Total 1,369,507 $ 61.39 1,365,294 $ 960,569 (1) Includes 4,213 shares (1,274 in October, 2,182 in November and 757 in December) withheld by us to satisfy the minimum tax obligations of employees due upon vesting of restricted stock awards and units. The level of this acquisition activity varies from period to period based upon the timing of award grants and vesting. (2) In December 2025, our Board of Directors reauthorized, expanded and replenished our stock repurchase program by raising the total capacity under the program from $800.0 million to $1.0 billion available for repurchases. The program does not have an expiration date. Dividends We have not declared or paid any cash dividends on our common stock since the first quarter of 2020, and we do not presently plan to pay cash dividends on our common stock in the foreseeable future. Payment of future cash dividends, if any, will be at the discretion of our board of directors after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs, outstanding indebtedness, plans for expansion and restrictions imposed by our debt arrangements, if any. ITEM 6. [RESERVED] 2025 Form 10-K 37 Table of Contents Blackbaud, Inc.