David Arroyo - 21 May 2024 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
21 May 2024
Net transactions value
$0
Form type
4
Filing time
23 May 2024, 19:43:11 UTC
Previous filing
17 May 2024
Next filing
16 Aug 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 +100,572 +887% $0.000000 111,913 21 May 2024 Direct F1, F2
transaction BZFD Class A Common Stock Options Exercise $0 +656 +0.59% $0.000000 112,569 21 May 2024 Direct F1, F2
transaction BZFD Class A Common Stock Options Exercise $0 +750 +0.67% $0.000000 113,319 21 May 2024 Direct F1, F2
transaction BZFD Class A Common Stock Tax liability $0 -41,102 -36% $0.000000 72,217 21 May 2024 Direct 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 -100,572 -33% $0.000000 201,152 21 May 2024 Class A Common Stock 100,572 Direct F1, F4, F5, F6
transaction BZFD Restricted Stock Units Options Exercise $0 -656 -33% $0.000000 1,314 21 May 2024 Class A Common Stock 656 Direct F1, F4, F6, F7
transaction BZFD Restricted Stock Units Options Exercise $0 -750 -40% $0.000000 1,124 21 May 2024 Class A Common Stock 750 Direct F1, F4, F6, F8
* 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 100,572 RSUs settled on May 21, 2024. The remaining 201,152 RSUs vests as to 1/12th of the total award of 301,724 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.
F7 656 RSUs settled on May 21, 2024. The remaining 1,314 RSUs vests as to 1/12 of the total award of 3,939 RSUs quarterly in eight equal installments on the 15th of each August, November, February, and May thereafter.
F8 750 RSUs settled on May 21, 2024. The remaining 1,124 RSUs vests as to 1/12 of the total award of 4,497 RSUs quarterly in eight equal installments on the 15th of each August, November, and February thereafter.