Backblaze (BLZE) CEO records RSU cash settlement and tax share disposals

Rhea-AI Filing Summary

Backblaze, Inc. CEO and Chairperson Gleb Budman reported administrative equity transactions tied to vesting restricted stock units. On May 20, 2026, the company retired 18,000 shares of Class A Common Stock for cash instead of issuing them as shares, and a further 13,177 shares were disposed of to cover tax obligations, both at $7.43 per share. These events reflect compensation settlement and tax-withholding mechanics rather than open-market buying or selling, and Budman continues to hold a substantial direct equity position in Backblaze.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Budman Gleb

Role CEO and Chairperson

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock	13,177	$7.43	$98K
Disposition	Class A Common Stock	18,000	$7.43	$134K

Holdings After Transaction: Class A Common Stock — 2,234,041 shares (Direct, null)

Footnotes (1)

1. Represents previously issued restricted stock units that the Issuer retired for cash upon vesting in lieu of issuing shares of common stock. These restricted stock units were settled by the Issuer at the closing price per share of the Issuer's common stock on the vesting date.

Key Figures

Issuer disposition shares: 18,000 shares Tax-withholding shares: 13,177 shares Transaction price: $7.43 per share +2 more

5 metrics

Issuer disposition shares 18,000 shares Class A Common Stock retired for cash on May 20, 2026

Tax-withholding shares 13,177 shares Class A Common Stock used for tax obligations on May 20, 2026

Transaction price $7.43 per share Price used for both issuer disposition and tax-withholding

Tax-withholding total entries 1 transaction Tax-withholding disposition counted in transaction summary

Total disposed shares 31,177 shares Combined issuer disposition and tax-withholding entries

Key Terms

restricted stock units, Disposition to issuer, tax-withholding disposition, closing price per share

4 terms

restricted stock units financial

"Represents previously issued restricted stock units that the Issuer retired for cash upon vesting"

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.

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

closing price per share financial

"settled by the Issuer at the closing price per share of the Issuer's common stock"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Budman Gleb

(Last) (First) (Middle)

2261 MARKET STREET

STE 81006

(Street)

SAN FRANCISCO CALIFORNIA 94114

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Backblaze, Inc. [ BLZE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairperson

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/21/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/20/2026	05/20/2026	F		13,177	D	$7.43	2,234,041	D
Class A Common Stock(1)	05/20/2026	05/20/2026	D		18,000	D	$7.43(2)	2,216,041	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents previously issued restricted stock units that the Issuer retired for cash upon vesting in lieu of issuing shares of common stock.

2. These restricted stock units were settled by the Issuer at the closing price per share of the Issuer's common stock on the vesting date.

Remarks:

This amendment is being filed solely to correct the number of shares of common stock withheld to satisfy the reporting person's tax withholding obligation in connection with the vesting of restricted stock units on May 20, 2026, and the resulting number of shares of common stock beneficially owned following the reported transaction.

	/s/ Evangeline Cheung, Attorney-in-Fact	05/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Backblaze (BLZE) CEO Gleb Budman report?

Gleb Budman reported equity-related disposals tied to vested restricted stock units. The company retired 18,000 shares for cash and disposed of 13,177 shares to cover taxes, both at $7.43, reflecting compensation settlement rather than open-market trading.

Were Backblaze (BLZE) CEO Gleb Budman’s Form 4/A transactions open-market stock sales?

No, the transactions were not open-market sales. One was a disposition to the issuer as restricted stock units were retired for cash, and the other covered tax obligations on vesting, both at $7.43 per share, indicating compensation-related administration.

How many Backblaze (BLZE) shares were retired or used for taxes in this Form 4/A?

A total of 31,177 shares were involved across two entries. The issuer retired 18,000 restricted stock unit shares for cash and disposed of 13,177 shares to satisfy tax liabilities, with both transactions priced at $7.43 per share.

What does the tax-withholding disposition mean in Backblaze (BLZE) CEO’s filing?

The tax-withholding disposition means shares were used to pay taxes on vested restricted stock units. In this case, 13,177 shares of Class A Common Stock were delivered at $7.43 per share to settle the tax liability instead of the executive selling shares in the market.

How were Gleb Budman’s restricted stock units in Backblaze (BLZE) settled?

The restricted stock units were settled by the issuer in cash based on the stock’s closing price. Rather than issuing new shares, Backblaze retired 18,000 RSU shares and used a $7.43 per share value, simplifying settlement and avoiding additional share issuance.

Does Backblaze (BLZE) CEO Gleb Budman still hold shares after these Form 4/A transactions?

Yes, he continues to directly own a substantial equity position. The reported transactions reflect retirement of vested restricted stock units for cash and tax-withholding dispositions, not a full exit of his holdings or large open-market share sales.