Founder and CEO Jonah Peretti Shifts to Majority Stock - Based Compensation Package . Company Introduces Stock Incentives for Senior Leaders at Current Strike Price , Ensuring benefit are Tied to Value Creation

New York , NY — May 17 , 2024 — BuzzFeed , Inc. ( Nasdaq : BZFD ) today annunciate its go - advancing poser for employee fairness recompense and incentive .

BuzzFeed laminitis and CEO Jonah Peretti is leading the elbow room for this change , taking the majority of his recompense as a neckcloth - ground package — at the money options — and removing the bulk of his immediate payment based - compensation .

The caller is also extend breed motivator to fourth-year executives across the organization . The strategical move provides stock selection with a rap price at the current economic value , further aligning the leaders team with the interests of shareholders . With this recompense model , the team will only do good from economic value creation thereby coordinate with shareholders , as the executive team transforms the caller and pushes the manufacture ahead .

BuzzFeed Founder and CEO Jonah Peretti say of the change to the equity compensation model , “ During flection stage , it ’s best to organize ourselves like a startup , where we can represent quickly , trial , take and produce . This compensation and incentive structure meditate our new organizational model as a thin , faster , scrappier tech - first ship’s company . ”

Peretti continued , “ The cyberspace operate through eras based on technological developments — first it was portals then hunt , then it was social , and now we ’re entering the GenAI earned run average . A heap of value is created at the beginning of each cycle . We are already seeing the former benefit of AI espousal , and I believe the next three twelvemonth will offer an chance for meaning value introduction . That is why we are machinate ourselves like a inauguration and incentivizing our squad over the next three year accordingly . We plan this programme to align with our goal of creating durable economic value for our shareholders . ”

Further item are available in today ’s Form 8 - kB filed with the SEC .

About BuzzFeed , Inc.

BuzzFeed , Inc. is home to the best of the Internet . Acrosspop culture , amusement , shopping , nutrient and news , our brands tug conversation and inspire what audiences look on , read , and buy now — and into the future tense . Born on the cyberspace in 2006 , BuzzFeed is committed to making it better : render hope , quality , brand - safe news and amusement to hundreds of millions of people ; make capacity on the Internet more inclusive , empathetic , and creative ; and inspiring our interview to dwell better life .

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Contacts

MediaJuliana Clifton , BuzzFeed : juliana.clifton@buzzfeed.com

Investor RelationsAmita Tomkoria , BuzzFeed : investors@buzzfeed.com