Backblaze Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Backblaze (Nasdaq: BLZE) granted 47,500 restricted stock units to strategy and operations executive Gali Kovacs on October 29, 2026.

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SAN FRANCISCO--(BUSINESS WIRE)-- Backblaze, Inc. (Nasdaq: BLZE), the high-performance capacity storage layer for AI, today announced that on October 29, 2026, it granted an equity inducement award to Gali Kovacs, the Company’s VP of Strategy and Operations, as a material inducement to Ms. Kovacs’ employment with the Company.

The inducement award consists of 47,500 restricted stock units (“RSUs”) for Ms. Kovacs. The RSUs will vest as to 25% of the underlying shares after one year, with the balance vesting in equal quarterly installments over the remaining three years. RSUs are subject to Ms. Kovacs’ continued employment with Backblaze through each applicable vesting date.

About Backblaze

Backblaze (NASDAQ: BLZE) is the high-performance capacity storage layer for AI. Built over two decades, the company has leveraged hardware, software, and operational innovation into a platform that delivers the performance and economics the AI era demands—without lock-in. Today, more than 500,000 customers trust Backblaze to move and store the data powering their businesses, reaching hundreds of millions of end users across 175 countries. For more information, visit www.backblaze.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261104843003/en/

Investors
Mimi Kong
ir@backblaze.com

Press Contact:
Renatta Siewert
press@backblaze.com

Source: Backblaze, Inc.

Key Terms

restricted stock units financial

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.