Jonathan Hyman - May 3, 2024 Form 4 Insider Report for Braze, Inc. (BRZE)

Role
Chief Technology Officer
Signature
/s/ Nathan Jeffries, Attorney-in-Fact
Stock symbol
BRZE
Transactions as of
May 3, 2024
Transactions value $
-$42,440
Form type
4
Date filed
5/7/2024, 05:11 PM
Previous filing
Apr 23, 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 Conversion of derivative security +1K +0.55% 184K May 3, 2024 Direct F1, F2
transaction BRZE Class A Common Stock Sale -$42.4K -1K -0.54% $42.44 183K May 3, 2024 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 Class B Common Stock Conversion of derivative security -1K -0.07% 1.42M May 3, 2024 Class A Common Stock 1K Direct F1
holding BRZE Class B Common Stock 28.6K May 3, 2024 Class A Common Stock 28.6K See footnote F1, F4
holding BRZE Class B Common Stock 28.6K May 3, 2024 Class A Common Stock 28.6K See footnote F1, 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 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, 161,957 shares are represented by restricted stock units.
F3 Shares were sold pursuant to a Rule 10b5-1 trading plan adopted on December 29, 2023.
F4 The securities are held by a family trust, of which the reporting person's spouse is the trustee. The Reporting Person shares voting and investment control of the shares and may be deemed to beneficially own the shares. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his proportionate pecuniary interest therein.