Form 4: Battery Ventures' Lee Roger H Sells Braze Inc. Shares

Lee Roger H, a director with ties to Battery Ventures, sold 56,830 shares of Braze Inc. Class A Common Stock at a weighted average price of $30.27 on October 11, 2024.

Summary

• On October 11, 2024, Lee Roger H, a director of Braze, Inc., sold 56,830 shares of Class A Common Stock at a weighted average price of $30.27.
• The sales occurred in multiple transactions with prices ranging from $30.03 to $30.78.
• Following the reported transaction, Lee Roger H directly owns 56,830 shares.
• Lee Roger H also indirectly owns shares through various Battery Ventures entities and a trust.
• These entities include Battery Investment Partners XI, LLC, Battery Ventures XI-A, L.P., Battery Ventures XI-B, L.P., Battery Ventures XI-A Side Fund, L.P., Battery Ventures XI-B Side Fund, L.P., Battery Investment Partners Select Fund I, L.P., Battery Ventures Select Fund I, L.P., and The Roger and Clarissa Lee Irrevocable Trust of 2016.
• The reporting person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a sale of shares. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider transactions.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 of for any other purpose.

Industry Context

Sales by insiders, such as directors, are common and are closely watched by investors for signals about the company's prospects. This sale by a director affiliated with a major venture capital firm could be interpreted in various ways, but without further context, it's difficult to determine the specific implications.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders.
• The reported transaction is similar to other insider sales observed across the technology sector.
• It's common for venture capital-affiliated directors to periodically sell shares, especially after lock-up periods expire.

Stakeholder Impact

• The sale of shares by a director could potentially influence investor sentiment, although the impact is likely to be minimal given the context of venture capital involvement.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates