TORONTO, July 7, 2026, 14:03 EDT
- BlackBerry’s U.S. shares slipped around 1% to $11.265 in early afternoon, with trading volume at 26.2 million shares.
- BlackBerry’s 2029 convertible notes can be converted by holders from July 1 through September 30, after a stock price trigger was met, according to a June 25 filing.
- Four Form 4s filed after the bell on Monday detailed 60,901 shares sold by execs on July 2, with the trades valued near $715,000 at rounded weighted prices.
BlackBerry Limited (NYSE:BB; TSE:BB) traded lower Tuesday. But the filings tell more than the daily move. After a rally on earnings, the company’s 2029 convertible notes are now an active capital question. Executive Form 4 stock sales filed post-close Monday were minor compared to the notes issue.
At 1:48 p.m. EDT, BlackBerry shares in the U.S. were at $11.265, off 1.0%. The stock traded between $10.68 and $11.50 earlier. It lagged the SPDR S&P 500 ETF Trust NYSEARCA:SPY, but did a bit better than Invesco QQQ Trust Series 1 NASDAQ:QQQ.
| Instrument | Last price | Move | Day range | Volume |
|---|---|---|---|---|
| BlackBerry Limited NYSE:BB | $11.265 | -1.0% | $10.68-$11.50 | 26.2 mln |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $748.75 | -0.3% | $745.33-$750.93 | 23.0 mln |
| Invesco QQQ Trust Series 1 NASDAQ:QQQ | $712.79 | -1.4% | $704.96-$717.03 | 28.3 mln |
BlackBerry’s latest 10-Q says holders of its 3.00% senior convertible unsecured notes due Feb. 15, 2029 can convert from July 1 through Sept. 30. The trigger was the share price rising above 130% of the conversion price for the set period. BlackBerry can choose to settle conversions in cash, stock, or a mix. The company says 51.5 million common shares could be issued if all notes convert, with 586 million voting common shares out as of June 22.
The note trigger matters because a full share settlement would be about 8.8% of the common voting shares shown in the filing. BlackBerry’s latest normal course issuer bid lets it buy back up to 26.8 million shares—just over half the full-conversion amount. The company doesn’t have to repurchase any shares.
Executive filings showed up more, but volumes were much lower.
| Filing person | Role | Shares sold | Weighted price | Filing detail |
|---|---|---|---|---|
| John J. Giamatteo | CEO, director | 28,272 | $11.22 | Sold shares to cover taxes owed after RSU vest. Picked up 66,372 shares on vesting. |
| Tim Foote | CFO | 25,878 | $12.55 / $11.22 | Unloaded 22,812 shares at $12.55. Another 3,066 sold at $11.22 flagged as tax-cover post RSU vest. |
| Jennifer Armstrong-Owen | SVP, chief people officer | 2,556 | $11.22 | Shed shares at $11.22 for withholding on 6,146 RSUs that vested. |
| Philip S. Kurtz | CLO, corporate secretary | 4,195 | $11.56 | Sold shares at $11.56 to handle withholding after 7,375 RSUs vested. |
The sales combined are roughly 0.23% of total U.S. trading volume on Tuesday, and just around 0.01% of BlackBerry’s $6.61 billion market cap at last check. Foote’s disclosure is the only one listing the 3,066-share sale as tax-related. The separate 22,812-share sale at $12.55 is not given the same tag.
BlackBerry’s capital-structure moves follow a sharp shift in expectations. The company posted first-quarter fiscal 2027 revenue at $152.9 million, up 26% from a year ago. QNX was up 26% to $72.3 million, Secure Communications gained 24% to $73.6 million, and adjusted EBITDA came in at $36.3 million, up from $14.9 million.
BlackBerry CEO John Giamatteo told Reuters that demand for QNX is strong as customers push deeper into software-defined vehicles. The company lifted its full-year fiscal 2027 revenue forecast up to $594 million-$621 million, and also bumped its QNX revenue outlook to a range of $295 million-$312 million.
BlackBerry repurchased 2.6 million shares at a cost of $10.0 million in the quarter ended May 31 under its old buyback program. Its new plan began May 12 and runs through May 11, 2027, unless BlackBerry hits the cap or ends it early.
