Backblaze CFO reports ESPP buy and RSU settlement

Backblaze, Inc. Chief Financial Officer Marc Suidan reported routine share movements involving the company’s Class A common stock.

Rhea-AI Filing Summary

Backblaze, Inc. Chief Financial Officer Marc Suidan reported routine share movements involving the company’s Class A common stock. On May 19, 2026, he acquired 2,500 shares at $3.68 per share through the company’s 2021 Employee Stock Purchase Plan for the purchase period from November 20, 2025 through May 19, 2026, a transaction exempt under Rule 16b-3(c).

On May 20, 2026, the company retired 18,000 previously issued restricted stock units for cash upon vesting and used 269 shares to cover the exercise price or tax liability, both settled at $7.43 per share, the closing price on the vesting date. After these transactions, Suidan directly holds 362,711 shares of Class A common stock.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Suidan Marc

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A Common Stock	269	$7.43	$2K
Disposition	Class A Common Stock	18,000	$7.43	$134K
Grant/Award	Class A Common Stock	2,500	$3.68	$9K

Holdings After Transaction: Class A Common Stock — 362,711 shares (Direct)

Footnotes (4)

1. F1. These shares of the Issuer's common stock were acquired pursuant to the Issuer's 2021 Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of November 20, 2025 through May 19, 2026. This transaction is exempt pursuant to Rule 16b-3(c) promulgated pursuant to the Securities Exchange Act of 1934.
2. F2. Under the ESPP, the purchase price is equal to 85% of the lower of the closing price of the Issuer's common stock on the first day of the applicable purchase period or the purchase date. The closing price of the Issuer's common stock on November 20, 2025 was $4.33.
3. F3. Represents previously issued restricted stock units that the Issuer retired for cash upon vesting in lieu of issuing shares of common stock.
4. F4. 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

ESPP acquisition: 2,500 shares at $3.68 RSUs retired for cash: 18,000 units at $7.43 Tax-withholding disposition: 269 shares at $7.43 +2 more

5 metrics

ESPP acquisition 2,500 shares at $3.68 Class A common stock acquired on May 19, 2026 under 2021 ESPP

RSUs retired for cash 18,000 units at $7.43 Previously issued restricted stock units settled for cash on May 20, 2026

Tax-withholding disposition 269 shares at $7.43 Shares delivered to pay exercise price or tax liability on May 20, 2026

Post-transaction holdings 362,711 shares CFO’s direct Class A common stock position after reported transactions

Reference ESPP price $4.33 closing price Backblaze common stock closing price on November 20, 2025 for ESPP formula

Key Terms

Employee Stock Purchase Plan, restricted stock units, Rule 16b-3(c), tax-withholding disposition

4 terms

Employee Stock Purchase Plan financial

"These shares of the Issuer's common stock were acquired pursuant to the Issuer's 2021 Employee Stock Purchase Plan"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

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.

Rule 16b-3(c) regulatory

"This transaction is exempt pursuant to Rule 16b-3(c) promulgated pursuant to the Securities Exchange Act of 1934"

An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Backblaze (BLZE) CFO Marc Suidan report?

Marc Suidan reported one acquisition and two dispositions of Backblaze Class A shares. He bought 2,500 shares via the Employee Stock Purchase Plan and had 18,000 restricted stock units retired for cash, with 269 shares used to cover exercise price or tax obligations.

How many Backblaze (BLZE) shares does the CFO hold after these Form 4 transactions?

After the reported transactions, Marc Suidan directly holds 362,711 Backblaze Class A shares. This figure reflects the ESPP acquisition, the retirement of 18,000 restricted stock units for cash, and 269 shares delivered to cover exercise price or tax liabilities at $7.43 per share.

How were the 2,500 Backblaze (BLZE) shares acquired by the CFO priced?

The 2,500 shares were acquired at $3.68 per share under Backblaze’s 2021 ESPP. The plan sets the purchase price at 85% of the lower of the closing price on November 20, 2025 ($4.33) or on the purchase date for that ESPP period.

What does the 18,000-share disposition reported by Backblaze (BLZE) CFO represent?

The 18,000-share disposition reflects restricted stock units retired for cash upon vesting. Instead of issuing new common shares, Backblaze settled these previously issued RSUs in cash, using the $7.43 closing price per share on the vesting date to determine the settlement value.

Why were 269 Backblaze (BLZE) shares disposed of in the CFO’s Form 4 filing?

The 269 shares were delivered to cover exercise price or tax obligations. This tax-withholding disposition, at $7.43 per share, represents payment of the exercise price or associated tax liability by delivering securities rather than an open-market sale transaction.

What is Backblaze (BLZE) CFO Marc Suidan’s Employee Stock Purchase Plan activity?

Marc Suidan acquired 2,500 shares via Backblaze’s 2021 ESPP. The purchase covered the ESPP period from November 20, 2025 through May 19, 2026 and is exempt under Rule 16b-3(c), with pricing based on 85% of the lower reference stock prices.

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

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Accepted by SEC EDGAR 05/21/2026 - 08:51 PM EDT 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)
05/19/2026

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	05/19/2026		A(1)		2,500	A	$3.68(2)	380,980	D
Class A Common Stock	05/20/2026	05/20/2026	F		269	D	$7.43	380,711	D
Class A Common Stock(3)	05/20/2026	05/20/2026	D		18,000	D	$7.43(4)	362,711	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. These shares of the Issuer's common stock were acquired pursuant to the Issuer's 2021 Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of November 20, 2025 through May 19, 2026. This transaction is exempt pursuant to Rule 16b-3(c) promulgated pursuant to the Securities Exchange Act of 1934.

2. Under the ESPP, the purchase price is equal to 85% of the lower of the closing price of the Issuer's common stock on the first day of the applicable purchase period or the purchase date. The closing price of the Issuer's common stock on November 20, 2025 was $4.33.

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

4. 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)