Daniel Weinstein - May 21, 2024 Form 4 Insider Report for BuzzFeed, Inc. (BZFD)

Role
Chief Accounting Officer
Signature
/s/ Heather Flores-Ricks, Attorney-in-Fact for Daniel Weinstein
Stock symbol
BZFD
Transactions as of
May 21, 2024
Transactions value $
$0
Form type
4
Date filed
5/23/2024, 07:42 PM
Previous filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BZFD Class A Common Stock Options Exercise $0 +15K $0.00 15K May 21, 2024 Direct F1, F2
transaction BZFD Class A Common Stock Tax liability $0 -5.41K -36.06% $0.00 9.59K May 21, 2024 Direct F1, 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 BZFD Restricted Stock Units Options Exercise $0 -15K -33.33% $0.00 30K May 21, 2024 Class A Common Stock 15K Direct F1, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 6, 2024, the Issuer effected a 1-for-4 reverse split of the Issuer's Class A common stock, resulting in a reduction in the number of shares held by the Reporting Person. In addition, proportionate adjustments have been made to the Reporting Person's outstanding equity awards, including the number of restricted stock units ("RSUs") reflected on this Form 4. Accordingly, all amounts of securities reported on this Form 4 have been adjusted to reflect the 1-for-4 reverse stock split.
F2 These shares of Class A common stock reflect the settlement, on May 21, 2024, of RSUs granted to the Reporting Person pursuant to the 2021 Equity Incentive Plan, each of which was converted into a share of the Issuer's Class A common stock on a 1-for-1 basis.
F3 Shares withheld to pay taxes applicable to the settlement of the RSUs previously awarded to the Reporting Person to which footnote (2) refers.
F4 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.
F5 14,999 RSUs settled on May 21, 2024. The remaining 30,001 RSU vest as to 1/12 of the total award of 45,000 RSUs quarterly in eight equal installments on the 19th of each August, November, February, and May thereafter.
F6 These RSUs do not expire; they either vest or are cancelled prior to the vesting date.