Brian Grassadonia - Feb 20, 2024 Form 4 Insider Report for Block, Inc. (SQ)

Role
Cash App Lead
Signature
/s/ Susan Szotek, Attorney-in-Fact
Stock symbol
SQ
Transactions as of
Feb 20, 2024
Transactions value $
-$8,535,768
Form type
4
Date filed
2/22/2024, 07:06 PM
Previous filing
Jan 4, 2024
Next filing
Mar 6, 2024

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 +253K +90.22% $0.00 533K Feb 20, 2024 Direct F1
transaction SQ Class A Common Stock Sale -$8.36M -128K -23.98% $65.45 405K Feb 20, 2024 Direct F2
transaction SQ Class A Common Stock Sale -$171K -2.66K -0.66% $64.31 403K Feb 21, 2024 Direct F3

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 -253K -100% $0.00* 0 Feb 20, 2024 Class B Common Stock 253K $7.25 Direct F2, F4, F5
transaction SQ Class B Common Stock Options Exercise $0 +253K $0.00 253K Feb 20, 2024 Class A Common Stock 253K Direct F5
transaction SQ Class B Common Stock Conversion of derivative security $0 -253K -100% $0.00* 0 Feb 20, 2024 Class A Common Stock 253K Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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, entered into prior to the effectiveness of the revised requirements of Rule 10b5-1(c). In compliance with SEC guidance, the Reporting Person has not checked the box above but states that the Rule 10b5-1 trading plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
F3 Represents the number of shares automatically sold to satisfy the Issuer's income tax withholding and remittance obligations in connection with the vesting of restricted stock units.
F4 20% of the shares subject to the option vested on February 24, 2015 and 1/60th of the shares vested monthly thereafter.
F5 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.