Backblaze (NASDAQ: BLZE) CEO records RSU cash settlement and tax-share dispositions

Rhea-AI Filing Summary

Backblaze, Inc. CEO Gleb Budman reported routine share dispositions tied to equity compensation, not open-market trading. On Class A Common Stock, he recorded a disposition to the issuer of 18,000 shares at $7.43 per share and a separate tax-withholding disposition of 13,256 shares at the same price. Footnotes explain these entries relate to previously issued restricted stock units that were retired for cash and settled at the closing share price on the vesting date. One reported line shows he continued to hold 2,215,962 shares directly after the transactions.

Insights

Equity compensation and insider-trading analyst

These are routine RSU-related dispositions, not open-market sales.

Backblaze CEO Gleb Budman reported two non-derivative transactions in Class A Common Stock with disposition codes D and F. The D entry covers 18,000 shares returned to the issuer, while the F entry covers 13,256 shares used to satisfy tax obligations, both at $7.43 per share.

Footnotes clarify these transactions arise from previously issued restricted stock units that were retired for cash and settled at the closing market price on the vesting date. This indicates compensation settlement and tax withholding mechanics rather than discretionary buying or selling in the open market.

After the reported movements, one line shows Budman holding 2,215,962 shares directly, suggesting the dispositions represent a small fraction of his overall stake. Given the routine, compensation-driven nature and lack of open-market trading, this filing is best viewed as administratively neutral for investors.

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	13,256	$7.43	$98K
Disposition	Class A Common Stock	18,000	$7.43	$134K

Holdings After Transaction: Class A Common Stock — 2,233,962 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: 18,000 shares at $7.43 Tax-withholding disposition: 13,256 shares at $7.43 Shares held after one transaction line: 2,215,962 shares +1 more

4 metrics

Issuer disposition 18,000 shares at $7.43 Class A Common Stock, code D on May 20, 2026

Tax-withholding disposition 13,256 shares at $7.43 Class A Common Stock, code F on May 20, 2026

Shares held after one transaction line 2,215,962 shares Direct Class A Common Stock holdings following disposition

Shares held after alternate line 2,233,962 shares Direct Class A Common Stock holdings reported on second entry

Key Terms

restricted stock units, tax-withholding disposition, Disposition to issuer, settled by the Issuer at the closing price

4 terms

restricted stock units financial

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

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.

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.

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

settled by the Issuer at the closing price financial

"These restricted stock units were settled by the Issuer at the closing price"

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)

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		13,256	D	$7.43	2,233,962	D
Class A Common Stock(1)	05/20/2026	05/20/2026	D		18,000	D	$7.43(2)	2,215,962	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:

	/s/ Evangeline Cheung, Attorney-in-Fact	05/20/2026
	** 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 transactions did Backblaze (BLZE) CEO Gleb Budman report?

Gleb Budman reported two Class A Common Stock dispositions on May 20, 2026, totaling 31,256 shares. One involved 18,000 shares returned to the issuer, and another 13,256 shares used to cover obligations, both tied to restricted stock unit vesting.

Were Gleb Budman’s Backblaze (BLZE) transactions open-market sales?

They were not open-market sales. The filing shows a disposition to the issuer and a tax-withholding disposition, both relating to restricted stock units settled at the closing share price on the vesting date, rather than discretionary market trading.

How many Backblaze (BLZE) shares were disposed of by Gleb Budman?

The filing shows a disposition of 18,000 shares of Class A Common Stock to the issuer and a separate 13,256-share disposition for tax withholding, for 31,256 shares total, all connected to restricted stock unit vesting events.

At what price were Gleb Budman’s Backblaze (BLZE) RSU-related dispositions recorded?

Both reported dispositions used a price of $7.43 per share. Footnotes state the restricted stock units were settled at the closing price per share of Backblaze common stock on the vesting date, which is reflected in the transaction entries.

How many Backblaze (BLZE) shares does Gleb Budman hold after these transactions?

One transaction line reports that Gleb Budman held 2,215,962 shares of Backblaze Class A Common Stock directly following the disposition. This indicates the reported RSU-related movements involved only a small portion of his overall ownership stake.

What do the restricted stock unit footnotes mean for Backblaze (BLZE) investors?

The footnotes explain that previously issued restricted stock units were retired for cash and settled at the closing share price on vesting. This frames the transactions as standard equity compensation settlement and tax handling, rather than signaling a change in insider sentiment.