Timothy M. Nufire - 22 Feb 2023 Form 4 Insider Report for Backblaze, Inc. (BLZE)

Role: Director, 10%+ Owner
Signature: /s/ Thomas MacMitchell - Attorney-in-Fact
Issuer symbol: BLZE
Transactions as of: 22 Feb 2023
Net transactions value: -$20,332
Form type: 4
Filing time: 24 Feb 2023, 19:28:02 UTC
Previous filing: 22 Feb 2023
Next filing: 27 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLZE	Class A Common Stock	Options Exercise	$0	+1,000,000	+583%	$0.000000	1,171,536	22 Feb 2023	Direct
transaction	BLZE	Class A Common Stock	Sale	$20,332	-3,536	-0.3%	$5.75	1,168,000	22 Feb 2023	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BLZE	Class B Common Stock	Options Exercise	$0	-1,000,000	-43%	$0.000000	1,326,321	22 Feb 2023	Class A Common Stock	1,000,000		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sales were effected pursuant to a limit order placed by the Reporting Person during an open window period.
F2	The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.73 to $5.81, 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.
F3	Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the Reporting Person and has no expiration date.