David Arroyo - May 12, 2023 Form 4 Insider Report for BuzzFeed, Inc. (BZFD)

Role: CLO
Signature: /s/ Heather Flores-Ricks, Attorney-in-Fact for David Arroyo
Stock symbol: BZFD
Transactions as of: May 12, 2023
Transactions value $: -$2,929
Form type: 4
Date filed: 5/16/2023, 09:03 PM
Previous filing: Jan 12, 2023
Next filing: May 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BZFD	Class A Common Stock	Options Exercise	$0	+7.46K	+24.77%	$0.00	37.6K	May 12, 2023	Direct	F1
transaction	BZFD	Class A Common Stock	Options Exercise	$0	+5.99K	+15.95%	$0.00	43.6K	May 12, 2023	Direct	F1
transaction	BZFD	Class A Common Stock	Tax liability	-$1.62K	-3.01K	-6.9%	$0.54	40.6K	May 12, 2023	Direct	F2
transaction	BZFD	Class A Common Stock	Tax liability	-$1.31K	-2.42K	-5.96%	$0.54	38.1K	May 12, 2023	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	BZFD	Restricted Stock Units	Options Exercise	$0	-7.46K	-100%	$0.00^*	0	May 12, 2023	Class A Common Stock	7.46K		Direct	F3, F4, F5
transaction	BZFD	Restricted Stock Units	Options Exercise	$0	-5.99K	-33.33%	$0.00	12K	May 12, 2023	Class A Common Stock	5.99K		Direct	F3, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares of Class A common stock reflect the settlement of restricted stock units ("RSUs") on May 12, 2023. Each RSU is convertible into a share of Issuer's Class A common stock on a 1-for-1 basis.
F2	Shares withheld to pay taxes applicable to the settlement of RSUs previously awarded pursuant to the 2021 Equity Incentive Plan.
F3	Each RSU represents a contingent right to receive one share of the Issuer's Class A common stock, subject to the Reporting Person's continued status as a service provider to the Issuer.
F4	This award is fully vested.
F5	These RSUs do not expire; they either vest or are cancelled prior to the vesting date.
F6	1/8 of the total award vested on the transaction date. The remaining 11,991 RSUs vests as to 1/8 of the total award quarterly in eight equal installments on the 15th of August and November thereafter. The vesting schedule reported here was incorrectly reported previously and has been corrected to reflect the correct vesting schedule.