Blackbaud (BLKB) Proxy Filing summary

Executive summary

• Achieved 4.5% total revenue growth to $1,155.5M and 5.1% non-GAAP organic recurring revenue growth on a constant currency basis in 2024, with recurring revenue comprising 97.7% of total revenue.

• Finalized the divestiture of EVERFI, repurchased approximately 10% of outstanding common stock, and appointed two new directors with expertise in finance and cybersecurity.

• Projecting mid-single digit organic revenue growth and continued focus on cost management and productivity for improved profitability in 2025.

Voting matters and shareholder proposals

• Four proposals up for vote: election of three Class C directors for three-year terms, advisory vote on 2024 executive compensation, approval of amendment and restatement of the 2016 Equity and Incentive Compensation Plan, and ratification of Ernst & Young LLP as independent auditor for 2025.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of nine members, 88.9% independent, with all committees fully independent.

• Board leadership is separated between an independent Chairman and the CEO.

• Annual board and committee evaluations, director tenure limits, and a focus on diversity and continuing education.

• Director stock ownership guidelines and annual equity awards align interests with shareholders.