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

Signature
/s/ Heather Flores-Ricks, Attorney-in-Fact for Daniel Weinstein
Issuer symbol
BZFD
Transactions as of
21 May 2024
Net transactions value
$0
Form type
4
Filing time
23 May 2024, 19:42:56 UTC
Previous filing
17 May 2024
Next filing
19 Nov 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 +14,999 $0.000000 14,999 21 May 2024 Direct F1, F2
transaction BZFD Class A Common Stock Tax liability $0 -5,409 -36% $0.000000 9,590 21 May 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 -14,999 -33% $0.000000 30,001 21 May 2024 Class A Common Stock 14,999 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.