David Arroyo - 02 Jan 2023 Form 3 Insider Report for BuzzFeed, Inc. (BZFD)

Role: Chief Legal Officer
Signature: /s/ Heather Flores-Ricks, Attorney-in-Fact for David Arroyo
Issuer symbol: BZFD
Transactions as of: 02 Jan 2023
Net transaction value: $0
Form type: 3
Filing time: 12 Jan 2023, 18:00:11 UTC
Next filing: 16 May 2023
SEC filing: View on sec.gov

Key filing fact

David Arroyo filed Form 3 for BuzzFeed, Inc. (BZFD) on 12 Jan 2023.

Key facts

This page summarizes David Arroyo's Form 3 filing for BuzzFeed, Inc. (BZFD).
0 reported transactions and 4 derivative rows are listed below.
Filing timestamp: 12 Jan 2023, 18:00.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Official SEC Source

Ownership activity is grounded in SEC Form 3 disclosures.

See Original Filing

Reported transactions

BZFD holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 30,117
Date: 02 Jan 2023
Ownership: Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

BZFD holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 02 Jan 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 7,459
Exercise price: $0.000000
Footnotes: F1, F2, F3, F4

BZFD holding Derivative

Stock Option (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 02 Jan 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 22,950
Exercise price: $8.34
Footnotes: F5, F6

BZFD holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 02 Jan 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 17,985
Exercise price: $0.000000
Footnotes: F3, F4, F7

BZFD holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date: 02 Jan 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 15,756
Exercise price: $0.000000
Footnotes: F3, F4, F7

^* indicates a reported price that failed the local validity check.

Explanation of Responses:

Id	Content
F1	Represents Restricted Stock Units ("RSUs") of the Issuer received pursuant to a business combination (the "Business Combination") which was effectuated in accordance with the terms of an Agreement and Plan of Merger dated as of June 24, 2021 (the "Merger Agreement") among (i) the Issuer, (ii) wholly-owned subsidiaries of the Issuer and (iii) the company formerly known as Buzzfeed, Inc. ("Original BuzzFeed"). At the Effective Time (as defined in the Merger Agreement), the Reporting Person's RSUs previously awarded by Original BuzzFeed with respect to shares of its Class A Common Stock were exchanged for replacement RSU awards of the Issuer, of an equivalent economic value, with respect to the Issuer's Class A Common Stock. The RSUs were subject to a liquidity event condition, which was satisfied by the Business Combination.
F2	This award is fully vested.
F3	These RSUs do not expire; they either vest or are cancelled prior to the vesting date.
F4	Each RSU represents a contingent right to receive one share of the Issuer's Common Stock, subject to the Reporting Person's continued status as a service provider to the Issuer.
F5	Represents stock options of the Issuer received pursuant to the Business Combination. At the Effective Time (as defined in the Merger Agreement), the reporting person's stock options previously awarded by Original BuzzFeed for shares of its Class A Common Stock were exchanged for substitute option awards, of an equivalent economic value, which vest and become exercisable for shares of the Issuer's Class A Common Stock.
F6	69% of this award is fully vested. The remainder of this award vests monthly on the 1st as to 1/48 of the total award.
F7	1/3 of the total award vests on May 15, 2023. The remainder vests as to 1/8 of the total award quarterly in eight equal installments on the 15nd of August, November, February, and May thereafter.

Remarks:

Exhibit 24 - Power of Attorney.