Backblaze founders convert limited Class B shares, adopt 10b5-1 trading plans for daily sales starting May 10

Backblaze, Inc.

Founders converted portion of Class B to Class A shares in conjunction with pre-arranged 10b5-1 trading plans adopted in late Feb 2022.
Each founder plans to sell 2,000 Class A shares per trading day beginning after IPO lock-up release on May 10, 2022.
After sales, founders will retain approximately 80% of their shares and remain significant stockholders.
Founders cite 15 years without monetization opportunity and desire for portfolio diversification as reasons.
Sales will be disclosed via Form 4 filings with the SEC.

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