Isabelle Winkles - 10 Apr 2023 Form 4 Insider Report for Braze, Inc. (BRZE)

Role
Chief Financial Officer
Signature
/s/ Susan Wiseman as Attorney-in-Fact
Issuer symbol
BRZE
Transactions as of
10 Apr 2023
Net transactions value
-$621,591
Form type
4
Filing time
12 Apr 2023, 16:52:47 UTC
Previous filing
07 Mar 2023
Next filing
17 May 2023
SEC
View on sec.gov

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 +21,362 +12% 200,285 10 Apr 2023 Direct F1
transaction BRZE Class A Common Stock Sale $20,130 -600 -0.3% $33.55 199,685 10 Apr 2023 Direct F2, F3
transaction BRZE Class A Common Stock Conversion of derivative security +38,357 +19% 238,042 11 Apr 2023 Direct F1
transaction BRZE Class A Common Stock Sale $892,890 -27,000 -11% $33.07 211,042 11 Apr 2023 Direct F2, F4

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 -21,362 -12% $0.000000 161,028 10 Apr 2023 Class B Common Stock 21,362 $4.88 Direct F1, F5
transaction BRZE Class B Common Stock Options Exercise $104,247 +21,362 $4.88* 21,362 10 Apr 2023 Class A Common Stock 21,362 Direct F1
transaction BRZE Class B Common Stock Conversion of derivative security $0 -21,362 -100% $0.000000* 0 10 Apr 2023 Class A Common Stock 21,362 Direct F1
transaction BRZE Stock Option (Right to Buy) Options Exercise $0 -38,357 -24% $0.000000 122,671 11 Apr 2023 Class B Common Stock 38,357 $4.88 Direct F1, F5
transaction BRZE Class B Common Stock Options Exercise $187,182 +38,357 $4.88* 38,357 11 Apr 2023 Class A Common Stock 38,357 Direct F1
transaction BRZE Class B Common Stock Conversion of derivative security $0 -38,357 -100% $0.000000* 0 11 Apr 2023 Class A Common Stock 38,357 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 as a sell-to-cover transaction intended to satisfy exercise price, tax withholding or other payment obligations arising in connection with the exercise of the Reporting Person's stock options.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.46 to $33.62 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 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.75 to $33.52 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.
F5 One fourth (1/4th) of the shares subject to the option award vested on January 31, 2021, and one thirty-sixth (1/36th) of the remaining shares subject to the option award vested or shall vest on the last day of each month thereafter, subject to the Reporting Person's continuous service through such vesting date.