Tina Cessna - Feb 23, 2024 Form 4 Insider Report for Backblaze, Inc. (BLZE)

Role
Senior VP, Engineering
Signature
/s/ Thomas MacMitchell - Attorney-in-Fact
Stock symbol
BLZE
Transactions as of
Feb 23, 2024
Transactions value $
-$425,120
Form type
4
Date filed
2/27/2024, 05:51 PM
Previous filing
Feb 26, 2024
Next filing
Mar 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLZE Class A Common Stock Options Exercise $50.8K +20K +16.52% $2.54 141K Feb 23, 2024 Direct
transaction BLZE Class A Common Stock Sale -$198K -20K -14.18% $9.90 121K Feb 23, 2024 Direct F1, F2
transaction BLZE Class A Common Stock Options Exercise $50.8K +20K +16.52% $2.54 141K Feb 26, 2024 Direct
transaction BLZE Class A Common Stock Sale -$197K -20K -14.18% $9.84 121K Feb 26, 2024 Direct F1, F3
transaction BLZE Class A Common Stock Options Exercise $20.3K +8K +6.61% $2.54 129K Feb 27, 2024 Direct
transaction BLZE Class A Common Stock Sale -$79.7K -8K -6.2% $9.96 121K Feb 27, 2024 Direct F1, F4
transaction BLZE Class A Common Stock Options Exercise $25K +9.56K +7.9% $2.61 131K Feb 27, 2024 Direct
transaction BLZE Class A Common Stock Sale -$97.5K -9.56K -7.32% $10.20 121K Feb 27, 2024 Direct F1, F5

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 Stock Option (right to buy) Options Exercise $0 -20K -41.67% $0.00 28K Feb 23, 2024 Class A Common Stock 20K $2.54 Direct F6
transaction BLZE Stock Option (right to buy) Options Exercise $0 -20K -71.43% $0.00 8K Feb 26, 2024 Class A Common Stock 20K $2.54 Direct F6
transaction BLZE Stock Option (right to buy) Options Exercise $0 -8K -100% $0.00* 0 Feb 27, 2024 Class A Common Stock 8K $2.54 Direct F6
transaction BLZE Stock Option (right to buy) Options Exercise $0 -9.56K -37.4% $0.00 16K Feb 27, 2024 Class A Common Stock 9.56K $2.61 Direct F7
* 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 The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F2 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.755 to $10.30, 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.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.69 to $10.04, 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 $9.56 to $10.08, 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.
F5 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.03 to $10.73, 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.
F6 The options are subject to a service-based vesting requirement, which shall be satisfied over a four-year period. 25% of the options vested on June 25, 2019 and 1/48th of the options vest monthly thereafter, subject to the Reporting Person's continuous service with the Issuer.
F7 The options are subject to a service-based vesting requirement, which shall be satisfied over a four-year period. 25% of the options vested on June 10, 2020 and 1/48th of the options vest monthly thereafter, subject to the Reporting Person's continuous service with the Issuer.