Compared to that median, the compensation for the CEO of the nonprofit software companywas a 1.23 and 1.29 multiple of the one-year and three-year totals. The board said Blackbaud’s outperformed its peer group in “invested capital, return on assets and return on equity”, justifying the pay level. The committee also noted it approved an $8 million target equity award for Gianoni, equal to the target value of the grant in 2018. However, because of an increase in the stock price for 30 trading days before Jan. 231, 2019 and the grant date of Feb. 21, 20198, the value of the equity award was $9.5 million. Gianoni received $11.1 million in compensation for 2019, an increase of $9.3 million from the prior year. The committee noted Blackbaud did not achieve performance goals in 2018, which affected the target value of the 2019 goals. Blackbaud’s stock closed at $543.59 per share, its high for 12 months, a 33.3 percent rise from $407.51 per share close on June 3, 2019.