Backblaze (NASDAQ: BLZE) CFO offloads shares for tax withholding

Rhea-AI Filing Summary

Backblaze, Inc. (BLZE) reported that its Chief Financial Officer, Marc Suidan, had two equity-related transactions. On August 21, 2026, he sold 2,110 shares of Class A common stock at a weighted average of about $15.82 per share in transactions mandated to "sell to cover" tax withholding on vested restricted stock units under the company’s equity incentive plans, rather than discretionary trades. On August 20, 2026, 11,083 previously issued restricted stock units were retired by Backblaze for cash upon vesting and were settled at the closing share price of $16.24, so no new shares were issued for those RSUs.

Insider Trade Summary

Net Seller: 13,193 shares

Net Sell 2 txns

Insider Suidan Marc

Role Chief Financial Officer

Sold 2,110 shs ($33K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F3, F4	2,110	$15.82	$33K
Disposition	Class A Common Stock F1, F2	11,083	$16.24	$180K

Holdings After Transaction: Class A Common Stock — 349,518 shares (Direct)

Footnotes (4)

1. F1. Represents previously issued restricted stock units that the Issuer retired for cash upon vesting in lieu of issuing shares of common stock.
2. F2. 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.
3. F3. The sales reported on this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
4. F4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.82 to $15.83, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Key Figures

Shares sold: 2,110 shares of Class A Common Stock Weighted average sale price: $15.82 per share RSUs retired for cash: 11,083 restricted stock units +1 more

4 metrics

Shares sold 2,110 shares of Class A Common Stock Sold on August 21, 2026 in open market or private transactions

Weighted average sale price $15.82 per share Shares sold in multiple transactions at prices from $15.82 to $15.83

RSUs retired for cash 11,083 restricted stock units Retired for cash upon vesting instead of issuing common shares

RSU settlement price $16.24 per unit Restricted stock units settled at the closing price on the vesting date

Key Terms

restricted stock units, sell to cover, weighted average price, Disposition to issuer

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.

sell to cover financial

"tax withholding obligations to be funded by a "sell to cover" transaction"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

weighted average price financial

"The price reported is a weighted average price. These shares were sold"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

FAQ

What insider transactions did BLZE CFO Marc Suidan report in this Form 4?

He reported a sale of 2,110 shares of Class A common stock on August 21, 2026, and the retirement for cash of 11,083 restricted stock units on August 20, 2026 in connection with vesting.

At what prices were Marc Suidan’s BLZE transactions executed?

The 2,110 shares sold on August 21, 2026 cleared at a weighted average price of about $15.82 per share, across trades from $15.82 to $15.83. The 11,083 restricted stock units retired on August 20, 2026 were settled at $16.24 per unit.

Were Marc Suidan’s BLZE share sales discretionary trades?

No. The filing states the 2,110 shares were sold to cover tax withholding obligations upon vesting and settlement of restricted stock units under Backblaze’s equity incentive plans, and that these do not represent discretionary trades by Marc Suidan.

Did the BLZE CFO’s RSU vesting issue new shares of common stock?

For 11,083 restricted stock units, Backblaze retired them for cash upon vesting instead of issuing shares. The filing explains these RSUs were settled in cash at the share closing price on the vesting date, so no new common shares were issued for that portion.

Is there a Rule 10b5-1 trading plan associated with this BLZE Form 4?

The document-level Rule 10b5-1 checkbox is not affirmatively checked, and the footnotes describe the “sell to cover” sale as mandated by Backblaze’s equity incentive plans, not as trades under a disclosed Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/24/2026 - 05:40 PM Accepted by SEC EDGAR 08/24/2026 - 05:39 PM Learn about SEC filing dates

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^*

Suidan Marc

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2026

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(1)	08/20/2026	08/20/2026	D		11,083	D	$16.24(2)	351,628	D
Class A Common Stock	08/21/2026	08/21/2026	S(3)		2,110	D	$15.82(4)	349,518	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.

3. The sales reported on this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.82 to $15.83, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Remarks:

	/s/ Evangeline Cheung, Attorney-in-Fact	08/24/2026
	** 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)