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

Signature
/s/ Susan Szotek, Attorney-in-Fact
Stock symbol
SQ
Transactions as of
Mar 4, 2024
Transactions value $
-$8,748,317
Form type
4
Date filed
3/6/2024, 06:04 PM
Previous filing
Feb 22, 2024
Next filing
Apr 3, 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 +153K +38.09% $0.00 556K Mar 4, 2024 Direct F1
transaction SQ Class A Common Stock Sale -$8.75M -112K -20.13% $78.17 444K Mar 4, 2024 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 -153K -33.33% $0.00 307K Mar 4, 2024 Class B Common Stock 153K $13.94 Direct F2, F3, F4
transaction SQ Class B Common Stock Options Exercise $0 +153K $0.00 153K Mar 4, 2024 Class A Common Stock 153K Direct F4
transaction SQ Class B Common Stock Conversion of derivative security $0 -153K -100% $0.00* 0 Mar 4, 2024 Class A Common Stock 153K 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 on November 29, 2023.
F3 20% of the shares subject to the option vested on June 1, 2016 and 1/60th 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.