Susan Wiseman - Jan 11, 2022 Form 4 Insider Report for Braze, Inc. (BRZE)

Signature
/s/ Susan Wiseman
Stock symbol
BRZE
Transactions as of
Jan 11, 2022
Transactions value $
-$321,743
Form type
4
Date filed
1/12/2022, 04:17 PM
Previous filing
Nov 23, 2021
Next filing
Dec 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRZE Class A Common Stock Conversion of derivative security +20K 20K Jan 11, 2022 Direct F1
transaction BRZE Class A Common Stock Sale -$322K -4.79K -23.93% $67.24 15.2K Jan 11, 2022 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 BRZE Stock Option (Right to Buy) Options Exercise $0 -10K -14.34% $0.00 59.7K Jan 11, 2022 Class B Common Stock 10K $3.46 Direct F1, F4
transaction BRZE Stock Option (Right to Buy) Options Exercise $0 -10K -12.5% $0.00 70K Jan 11, 2022 Class B Common Stock 10K $4.88 Direct F1, F5
transaction BRZE Class B Common Stock Options Exercise $0 +20K +11.82% $0.00 189K Jan 11, 2022 Class A Common Stock 20K Direct F1
transaction BRZE Class B Common Stock Conversion of derivative security $0 -20K -10.57% $0.00 169K Jan 11, 2022 Class A Common Stock 20K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible into one share of Class A Common Stock (A) at any time at the option of the Reporting Person or (B) automatically upon the occurrence of the following: (1) the transfer of such share of Class B Common Stock, except for certain transfers whereby the Reporting Person continues to hold sole voting and dispositive power with respect to each such share, (2) the death of a Class B common stockholder who is a natural person, (3) the last trading day of the fiscal quarter immediately following the fifth anniversary of the Issuer's initial public offering, (4) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B common stock and (5) the last trading day of the fiscal quarter during which the then outstanding shares of Class B Common Stock first represent less than 10% of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock.
F2 This transaction was effected in accordance with the terms of a lock-up agreement between the Reporting Person and the underwriters in the Issuer's initial public offering to satisfy tax withholding or other payment obligations arising in connection with the Reporting Person's option exercise. All securities beneficially owned by the Reporting Person remain subject to these lock-up restrictions.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.80 to $67.35 inclusive. 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 One forty-eighth (1/48th) of the shares subject to the option award vested or shall vest on a monthly basis on the first day of each month commencing on March 1, 2019, subject to the Reporting Person's continuous service through such vesting date.
F5 One forty-eighth (1/48th) of the shares subject to the option award vested or shall vest on a monthly basis on the first day of each month commencing on March 1, 2020, subject to the Reporting Person's continuous service through such vesting date.