secwatch.observer — SEC 8-K summary
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Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2022-04-13T23:59:59+00:00
Accession:  0001628280-22-009098
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000162828022009098/0001628280-22-009098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000162828022009098/blze-20220413.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-009098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer