William Magnuson - Feb 16, 2024 Form 4 Insider Report for Braze, Inc. (BRZE)

Role
Chief Executive Officer, Director
Signature
/s/ Nathan Jeffries, Attorney-in-Fact
Stock symbol
BRZE
Transactions as of
Feb 16, 2024
Transactions value $
-$682,874
Form type
4
Date filed
2/21/2024, 05:36 PM
Previous filing
Feb 5, 2024
Next filing
May 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRZE Class A Common Stock Sale -$683K -11.9K -1.83% $57.51 637K Feb 16, 2024 Direct F1, F2, F3
holding BRZE Class A Common Stock 470 Feb 16, 2024 See footnote F4
* 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 This transaction was effected in accordance with a non-discretionary sell-to-cover program implemented by the Issuer, effective November 16, 2021 and last modified April 30, 2023, to satisfy tax withholding obligations arising in connection with the vesting of the Reporting Person's restricted stock units.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.30 to $57.52 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.
F3 Of the reported shares, 427,516 shares are represented by restricted stock units.
F4 The securities are held by a limited liability company in which the reporting person is a member. The reporting person shares voting and investment control of the shares and may be deemed to beneficially own the shares.