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

Role
Cash App Lead
Signature
/s/ Susan Szotek, Attorney-in-Fact
Issuer symbol
XYZ
Transactions as of
20 Feb 2024
Net transactions value
-$8,535,768
Form type
4
Filing time
22 Feb 2024, 19:06:53 UTC
Previous filing
04 Jan 2024
Next filing
06 Mar 2024
SEC
View on sec.gov

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 +252,816 +90% $0.000000 533,024 20 Feb 2024 Direct F1
transaction SQ Class A Common Stock Sale $8,364,510 -127,800 -24% $65.45 405,224 20 Feb 2024 Direct F2
transaction SQ Class A Common Stock Sale $171,258 -2,663 -0.66% $64.31 402,561 21 Feb 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 -252,816 -100% $0.000000* 0 20 Feb 2024 Class B Common Stock 252,816 $7.25 Direct F2, F4, F5
transaction SQ Class B Common Stock Options Exercise $0 +252,816 $0.000000 252,816 20 Feb 2024 Class A Common Stock 252,816 Direct F5
transaction SQ Class B Common Stock Conversion of derivative security $0 -252,816 -100% $0.000000* 0 20 Feb 2024 Class A Common Stock 252,816 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.