Business Context and Reporting Period
This Form 8-K Current Report was filed by Blackbaud, Inc. on September 16, 2021. The filing addresses corporate governance changes, specifically the departure of a director and the appointment of a new director to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Director Departure: Thomas R. Ertel notified the Company of his resignation as a director, effective September 30, 2021. He stated there are no disagreements with the Company, management, or the Board regarding operations or policies.
- Director Appointment: The Board appointed D. Roger Nanney as a new member of the Board and its Audit Committee, effective October 1, 2021. Mr. Nanney will serve as a Class C director until the 2022 annual meeting of stockholders.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of material risks and contingencies. Regarding the new appointment, the Company confirmed that Mr. Nanney is deemed independent under Nasdaq rules and the Sarbanes-Oxley Act. There are no undisclosed transactions or arrangements between Mr. Nanney and the Company requiring disclosure under Regulation S-K Item 404(a).
Key Facts for Investor Verification
- Thomas R. Ertel's resignation is effective September 30, 2021.
- D. Roger Nanney's appointment is effective October 1, 2021.
- Mr. Nanney brings significant accounting experience, having served as Vice Chairman and Senior Partner of Deloitte LLP until his retirement in May 2020.
- Mr. Nanney's compensation will follow the Company's standard non-employee director practices, including cash retainers and restricted stock grants.