Item 8.01. Other Events.

On February 1, 2024, the U.S. Federal Trade Commission (the “FTC”) announced its approval of a settlement with Blackbaud, Inc. (the “Company”) relating to the previously announced 2020 security incident^¹ in which a cybercriminal removed a copy of a subset of data from the Company’s self-housed environment^²,³,⁴ (the “Security Incident”). When finalized, this settlement will fully resolve the previously disclosed FTC investigation relating to the Security Incident, which is further described in the FTC’s complaint and proposed order.

Under the terms of the FTC’s proposed order, the Company has agreed to certain conditions, which are reflected in their entirety in the FTC’s proposed order. As part of the FTC’s proposed order, the Company has not been fined and is not otherwise required to make any payment.

The Company has agreed to the FTC’s proposed order without admitting or denying any of the allegations in the FTC’s complaint, except as expressly stated otherwise in the FTC’s proposed order.

The foregoing description is qualified in its entirety by reference to the full text of the form of the FTC’s proposed order attached hereto as Exhibit 99.2 and incorporated by reference herein.