X0306 4 2015-03-18 0 0001411488 BLACKHAWK NETWORK HOLDINGS, INC HAWK 0001572913 Ulrich Jerry N 6220 STONERIDGE MALL ROAD PLEASANTON CA 94588 0 1 0 0 CFO & Chief Admin Officer Class B Common Stock 2015-03-18 4 S 0 15000 33.0242 D 6000 I See Footnote Class B Common Stock 2015-03-19 4 S 0 2538 34.00 D 31462 D Class B Common Stock 2015-03-19 4 S 0 7462 33.53 D 24000 D Transaction executed in multiple trades at prices ranging from $33.00 to $33.05 per share, inclusive. The price reported in column 4 of Table I above reflects the weighted average sale price per share. The Reporting Person hereby undertakes to provide the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. The shares are held by The Ulrich Family Trust Dated November 1, 1996 as Amended and Restated in 2011. Transaction executed in multiple trades at prices ranging from $33.50 to $33.60 per share, inclusive. The price reported in column 4 of Table I above reflects the weighted average sale price per share. The Reporting Person hereby undertakes to provide the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. /s/ Suzan S. Rowland, Attorney-in-Fact for Jerry N. Ulrich 2015-03-19