Chrysty Esperanza - Jul 11, 2023 Form 4 Insider Report for Block, Inc. (SQ)

Signature
/s/ Susan Szotek, Attorney-in-Fact
Stock symbol
SQ
Transactions as of
Jul 11, 2023
Transactions value $
-$220,500
Form type
4
Date filed
7/13/2023, 05:56 PM
Previous filing
Jul 6, 2023
Next filing
Jul 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SQ Class A Common Stock Conversion of derivative security $0 +3.15K +4.63% $0.00 71.1K Jul 11, 2023 Direct F1
transaction SQ Class A Common Stock Sale -$221K -3.15K -4.43% $70.00 68K Jul 11, 2023 Direct F2

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SQ Stock Option (right to buy) Options Exercise $0 -3.15K -100% $0.00* 0 Jul 11, 2023 Class B Common Stock 3.15K $3.66 Direct F2, F3, F4
transaction SQ Class B Common Stock Options Exercise $0 +3.15K $0.00 3.15K Jul 11, 2023 Class A Common Stock 3.15K Direct F4
transaction SQ Class B Common Stock Conversion of derivative security $0 -3.15K -100% $0.00* 0 Jul 11, 2023 Class A Common Stock 3.15K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person.
F2 The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted February 28, 2023.
F3 25% of the shares subject to the option vested on October 7, 2014 and 1/48th of the shares vested monthly thereafter.
F4 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.