David Arroyo - 11 Aug 2023 Form 4 Insider Report for BuzzFeed, Inc. (BZFD)

Role: CLO
Signature: /s/ Heather Flores-Ricks, Attorney-in-Fact for David Arroyo
Issuer symbol: BZFD
Transactions as of: 11 Aug 2023
Net transactions value: -$1,415
Form type: 4
Filing time: 15 Aug 2023, 18:38:36 UTC
Previous filing: 23 May 2023
Next filing: 09 Nov 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BZFD	Class A Common Stock	Options Exercise	$0	+5,251	+14%	$0.000000	43,397	11 Aug 2023	Direct	F1
transaction	BZFD	Class A Common Stock	Options Exercise	$0	+1,498	+3.5%	$0.000000	44,895	11 Aug 2023	Direct	F1
transaction	BZFD	Class A Common Stock	Tax liability	$1,101	-2,117	-4.7%	$0.5200	42,778	11 Aug 2023	Direct	F2
transaction	BZFD	Class A Common Stock	Tax liability	$314	-604	-1.4%	$0.5200	42,174	11 Aug 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	-5,251	-33%	$0.000000	10,505	11 Aug 2023	Class A Common Stock	5,251		Direct	F3, F4, F5
transaction	BZFD	Restricted Stock Units	Options Exercise	$0	-1,498	-12%	$0.000000	10,493	11 Aug 2023	Class A Common Stock	1,498		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, on August 11, 2023, of restricted stock units ("RSUs") granted to the reporting person pursuant to the 2021 Equity Incentive Plan, each of which was converted 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 the RSUs previously awarded to the reporting person to which footnote (1) refers.
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	1/3 of the total award vested on the transaction date. The remaining 10,505 RSUs vests as to 1/12 of the total award quarterly in eight equal installments on the 15th of August, November, February, and May thereafter.
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 10,493 RSUs vests as to 1/12 of the total award quarterly in equal installments on the 15th of November, February, May and August thereafter.