Blackbaud Unveils Updated Retirement Program With Continued Equity Vesting for Eligible Employees
Blackbaud Inc. has announced updates to its retirement program, effective for annual long-term incentive (LTI) equity awards granted on or after January 1, 2026. Under the new terms, eligible employees who retire at age 60 or older and provide at least six months' written notice may continue to vest in time-based and performance-based LTI awards after retirement. Vesting for time-based awards will follow the original grant schedule, while performance-based awards will vest based on actual performance results as certified annually by the Compensation Committee. Additional requirements include a written retirement approval from company leadership, satisfactory job performance during the notice period, and execution of a separation agreement with confidentiality, non-solicitation, and non-competition provisions. These changes do not affect outstanding equity awards.
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