Alyssa Henry - Apr 5, 2023 Form 4 Insider Report for Block, Inc. (SQ)

Role
Square Lead
Signature
/s/ Susan Szotek, Attorney-in-Fact
Stock symbol
SQ
Transactions as of
Apr 5, 2023
Transactions value $
-$2,080,600
Form type
4
Date filed
4/7/2023, 06:00 PM
Previous filing
Apr 5, 2023
Next filing
Apr 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SQ Class A Common Stock Conversion of derivative security $0 +30.8K +7.45% $0.00 444K Apr 5, 2023 Direct F1
transaction SQ Class A Common Stock Sale -$2.08M -30.8K -6.93% $67.62 413K Apr 5, 2023 Direct F2, F3

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 SQ Stock Option (right to buy) Options Exercise $0 -30.8K -20% $0.00 123K Apr 5, 2023 Class B Common Stock 30.8K $7.25 Direct F2, F4, F5
transaction SQ Class B Common Stock Options Exercise $0 +30.8K $0.00 30.8K Apr 5, 2023 Class A Common Stock 30.8K Direct F5
transaction SQ Class B Common Stock Conversion of derivative security $0 -30.8K -100% $0.00* 0 Apr 5, 2023 Class A Common Stock 30.8K Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person.
F2 The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F3 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $67.19 to $68.10 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 25% of the shares subject to the option vested on May 12, 2015 and 1/48th of the shares vested monthly thereafter.
F5 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.