Phillip M. Fernandez - Nov 15, 2023 Form 4 Insider Report for Braze, Inc. (BRZE)

Role
Director
Signature
/s/ Nathan Jeffries, Attorney-in-Fact
Stock symbol
BRZE
Transactions as of
Nov 15, 2023
Transactions value $
-$67,830
Form type
4
Date filed
11/17/2023, 05:33 PM
Previous filing
Oct 18, 2023
Next filing
Dec 19, 2023

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 +1.5K +13.57% 12.6K Nov 15, 2023 Direct F1, F2
transaction BRZE Class A Common Stock Sale -$73.6K -1.5K -11.95% $49.05 11.1K Nov 15, 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 BRZE Stock Option (Right to Buy) Options Exercise $0 -1.5K -0.86% $0.00 172K Nov 15, 2023 Class B Common Stock 1.5K $3.83 Direct F1, F4
transaction BRZE Class B Common Stock Options Exercise $5.75K +1.5K $3.83 1.5K Nov 15, 2023 Class A Common Stock 1.5K Direct F1
transaction BRZE Class B Common Stock Conversion of derivative security $0 -1.5K -100% $0.00* 0 Nov 15, 2023 Class A Common Stock 1.5K Direct F1
* 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 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 Of the reported shares, 5,846 shares are represented by restricted stock units.
F3 Shares were sold pursuant to a Rule 10b5-1 trading plan adopted on April 5, 2023.
F4 One forty-eighth (1/48th) of the shares subject to the option award vested or shall vest on a monthly basis on the tenth day of each month commencing on June 10, 2019, subject to the Reporting Person's continuous service through such vesting date.