Budman Gleb 4

What Happened

• Gleb Budman, CEO and Chairperson of Backblaze (BLZE), reported dispositions tied to vested restricted stock units (RSUs) on 2026-05-20. A total of 31,256 RSU-equivalent shares were settled for cash at $7.43 per share: 18,000 shares were retired by the issuer in lieu of issuing shares (cash-in-lieu) for $133,740, and 13,256 shares were disposed to cover tax withholding obligations for $98,492. Combined cash value ≈ $232,232.
• This was not an open-market sale of existing shares; it reflects a cash settlement of RSUs and the withholding of shares to cover taxes.

Key Details

• Transaction date: 2026-05-20; Filing date: 2026-05-21 (filed promptly; not late).
• Price used for settlement: $7.43 per share.
  • 18,000 shares @ $7.43 = $133,740 (Disposition to issuer — cash-in-lieu of issuing shares).
  • 13,256 shares @ $7.43 = $98,492 (Payment of tax liability via share withholding).
• Total shares involved: 31,256; total cash value ≈ $232,232.
• Footnotes: RSUs were settled for cash upon vesting (issuer retired the RSUs for cash rather than issuing stock; settlement used closing price on vesting date).
• Shares owned after the transaction: not provided in the supplied filing data.

Context

• This is a cash settlement of vested RSUs (common when companies settle awards in cash rather than issuing shares). The tax-withholding portion (F) and the cash-in-lieu retirement (D) are administrative dispositions and do not necessarily signal open‑market selling by the insider. For retail investors, purchases are generally more informative about insider sentiment; this transaction is routine compensation settlement.