Form 4: Backblaze CFO's Routine Stock Tax Withholding

Backblaze's Chief Financial Officer, Marc Suidan, had 6,708 shares of Class A Common Stock withheld by the company to cover tax obligations related to RSU vesting.

Summary

• Marc Suidan, Chief Financial Officer of Backblaze, Inc. (BLZE), reported a transaction on November 20, 2025.
• The transaction involved the disposition of 6,708 shares of Class A Common Stock at a price of $4.33 per share.
• These shares were withheld by Backblaze to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs).
• No shares were sold by Mr. Suidan to satisfy this tax liability.
• Following this transaction, Mr. Suidan beneficially owns 274,748 shares of Class A Common Stock.
• This total includes 2,500 shares of Class A Common Stock acquired under the Issuer's Employee Stock Purchase Plan on November 19, 2025.

Sentiment

Score: 5

Explanation: The filing reports a routine administrative transaction (tax withholding for RSU vesting) that is neither inherently positive nor negative for the company's operational or financial performance. It reflects standard compensation practices.

Positives

• The transaction was a routine tax withholding event related to RSU vesting, not a discretionary sale by the CFO.
• No shares were sold by the reporting person to satisfy the tax liability, indicating the company handled the withholding directly.

Negatives

• A reduction of 6,708 shares in direct beneficial ownership due to tax withholding.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing details a routine insider transaction related to equity compensation and tax withholding, which is a standard practice across publicly traded companies offering Restricted Stock Units (RSUs) as part of their executive compensation packages. It does not provide insights into broader industry trends or competitive positioning.

Comparison to Industry Standards

• The withholding of shares to cover tax obligations upon RSU vesting is a standard and widely accepted practice in corporate compensation across various industries, aligning with typical global benchmarks for equity compensation administration.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine administrative transaction related to executive compensation and tax compliance, not a discretionary sale or a change in company fundamentals.
• Employees: Reflects standard equity compensation practices, which may be relevant for employees participating in similar RSU or ESPP programs.

Key Dates

Keywords

Backblaze, BLZE, Form 4, Insider Transaction, CFO, Stock, RSU, Tax Withholding, Equity Compensation