Gleb Budman - 25 May 2023 Form 4 Insider Report for Backblaze, Inc. (BLZE)

Role
CEO and Chairperson, Director, 10%+ Owner
Signature
/s/ Thomas MacMitchell - Attorney-in-Fact
Issuer symbol
BLZE
Transactions as of
25 May 2023
Net transactions value
-$107,770
Form type
4
Filing time
01 Jun 2023, 19:47:46 UTC
Previous filing
10 May 2023
Next filing
22 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLZE Class A Common Stock Conversion of derivative security +92,000 +146% 155,128 25 May 2023 Direct F1
transaction BLZE Class A Common Stock Sale $54,730 -13,000 -8.4% $4.21 142,128 30 May 2023 Direct F2, F3
transaction BLZE Class A Common Stock Sale $53,040 -13,000 -9.1% $4.08 129,128 31 May 2023 Direct F2, F4

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 BLZE Class B Common Stock Conversion of derivative security $0 -92,000 -3.9% $0.000000 2,250,510 25 May 2023 Class A Common Stock 92,000 Direct F1
* 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 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the Reporting Person and has no expiration date.
F2 The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.17 to $4.27, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
F4 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.97 to $4.24, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.