Backblaze Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

SAN FRANCISCO--(BUSINESS WIRE)--Backblaze, Inc. (Nasdaq: BLZE) today announced that on March 10, 2026, it granted an equity inducement award to Dan Spraggins, the Company’s Senior Vice President of Engineering, as a material inducement to Mr. Spraggins’ employment with the Company. The Company’s Board of Directors has also designated Mr. Spraggins as an officer subject to the Section 16 of the Securities Exchange Act of 1934.

Mr. Spraggins joined Backblaze in January 2026 as Senior Vice President of Engineering, bringing more than two decades of experience leading large-scale software, platform, and AI engineering organizations across global technology companies.

The inducement award consists of 234,220 restricted stock units (“RSUs”) granted under the Company's 2024 New Employee Equity Incentive Plan (the "Inducement Plan"). The RSUs will vest as to 25% of the underlying shares on the one-year anniversary of vesting commencement date, with the balance vesting in equal quarterly installments over the remaining three years, subject to Mr. Spraggins’ continued employment with Backblaze through each applicable vesting date.

The inducement award was approved by Backblaze's Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs are subject to the terms and conditions of the Inducement Plan and the applicable award agreement.

About Backblaze

Backblaze (NASDAQ: BLZE) gives businesses the freedom to innovate without limits by removing the barriers of lock-in, complexity, and cost. Our high-performance cloud object storage accelerates AI workflows, powers data-heavy applications, streamlines media management, and protects critical data. As an award-winning independent cloud, we provide unparalleled levels of interoperability that enable over 500,000 of our customers to reach and serve hundreds of millions of end users in 175 countries around the world. For more information, please go to www.backblaze.com.