Gleb Budman is the CEO and co-founder of Backblaze, Inc. He earned his Bachelor of Science in Computer Science from the University of California, Berkeley, a strong starting point for his tech career. Gleb has been with Backblaze since its...

Gleb Budman is the CEO and co-founder of Backblaze, Inc. He earned his Bachelor of Science in Computer Science from the University of California, Berkeley, a strong starting point for his tech career. Gleb has been with Backblaze since its early days and has led the company since 2007. Under his guidance, Backblaze has become known for its innovative cloud storage solutions. He also serves as the Chairperson of the Board, combining leadership roles effectively. Gleb has a background at SonicWall, where he took on various senior roles before starting Backblaze. This gives him a clear understanding of technology and business. While his focus is on keeping Backblaze competitive, he’s also noted for not taking cash bonuses, with a recent salary of $525,000 in 2023, but instead leveraging stock rewards which align his success directly with the company’s performance. Gleb's journey reflects a mix of expertise and a commitment to affordable cloud storage, making him an integral part of the company's mission and success.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

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Gleb Budman

Founder and CEO of Backblaze, Inc.

Education

M.B.A. and B.S. in Mechanical Engineering from the University of California, Berkeley

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Technology

Born

January 1, 1974 - 51 years ago

CEO of Backblaze, Inc. for

18 years 3 months (Jan 2007 - Present)

Previous Experience

Various senior roles at SonicWall, Inc., MailFrontier, Inc. (acquired by SonicWall, Inc.) and Kendara, Inc. (acquired by Excite@Home, Inc.)

Rivals

Competitors/colleagues of Gleb Budman

Holdings

See how much did Gleb Budman make over time.

Gleb Budman's investment in Backblaze has seen significant swings. In 2022, his insider trading activity peaked with a sale worth $5.67 million, followed by a notable decline in subsequent months, often selling shares around $1-3 million monthly until mid-2023. Since...

Gleb Budman's investment in Backblaze has seen significant swings. In 2022, his insider trading activity peaked with a sale worth $5.67 million, followed by a notable decline in subsequent months, often selling shares around $1-3 million monthly until mid-2023. Since then, he has moved upward sharply, culminating in sales exceeding $14 million in late 2023. His holdings currently amount to approximately 1.65 million shares of Backblaze's Class A stock, representing about 3.8% of total shares. The value of his stake has experienced ups and downs, showing he manages his wealth actively, adapting to the company's growth and market conditions over the years.

Total Stock Sold

$5.00M

BLZE

$5.00M

781,132 BLZE shares

What if they kept their stock?

If Gleb Budman didn't sell their stock, today they would have:
Extra BLZE781,132 shares worth $15.54M.
This is 210.83% and $10.54M more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Gleb Budman.

BLZE

$73.56K

BLZE at $6.34/share

Aug 21, 2024

Sale

BLZE

237,860 shares

BLZE

Aug 10, 2024

Received

BLZE

$1.62M

BLZE at $10.78/share

Feb 21, 2024

Sale

BLZE

$32.56K

BLZE at $11.49/share

Feb 16, 2024

Sale

BLZE

$79.28K

BLZE at $11.83/share

Feb 16, 2024

Received

BLZE

$226.52K

BLZE at $5.39/share

Jul 12, 2023

Sale

BLZE

$180.32K

BLZE at $4.29/share

Jun 20, 2023

Sale

BLZE

$107.77K

BLZE at $4.15/share

May 25, 2023

Sale

BLZE

$24.94K

BLZE at $4.16/share

May 8, 2023

Sale

BLZE

$24.34K

BLZE at $4.06/share

May 3, 2023

Sale

Compensation History

See how much did Gleb Budman make over time.

In 2023, Gleb Budman's total compensation was $614,185, which included a base salary of $525,000. While he didn't take any cash bonus, he saw $79,285 in vested stock from past awards, emphasizing a commitment to employee incentives tied to company performance. Backblaze focuses its compensation strategy on aligning rewards with financial results. Gleb's approach to compensation reflects a strategy where long-term performance is prioritized over short-term gains, positioning him as a leader focused on sustainable growth. Over the past few years, his compensation has gradually increased to reflect his contributions to the company, but he has not taken significant bonuses despite strong revenue performance, opting instead to focus on equity growth.

Year

2023

Total Compensation

$614.19K

Salary

$525.00K

Board Justification

The compensation philosophy aligns with company performance, peer benchmarking, and retention strategies, with a focus on incentivizing and rewarding eligible employees based on financial metrics and individual performance.

Bonus

$0.00

Board Justification

In 2023, the actual achievement with respect to the financial performance metrics for the annual bonus plan was 150%, but no cash bonus was reported for Mr. Budman.

Other

$9.90K

Board Justification

Reflects the Company’s contributions under the safe harbor provisions of our 401(k) Plan generally available to all employees as a percentage of cash compensation.

Restricted Stock

$79.29K(0 RSU)

Board Justification

The RSU awards for 2023 includes the payout from the Company’s 2023 annual bonus plan, which was paid in the form of fully vested RSUs, but the specific number of shares vested is not disclosed.

Performance Metrics

The performance metrics for the CEO's compensation in 2023 were based on revenue and adjusted EBITDA.