Form 4: Battery Ventures' Scott Tobin Reports Braze Inc. Stock Transfer to Trust

Scott R. Tobin, a director at Braze Inc., reported a transfer of shares to a trust in exchange for cash and securities of equivalent value, along with pro rata distributions from Battery Ventures funds.

Summary

• On April 9, 2024, Scott R. Tobin, a director at Braze, Inc., engaged in a transaction involving Class A Common Stock.
• Tobin contributed 16,156 shares to the Scott R. Tobin Irrevocable GST Trust of 2013 in exchange for cash and securities of equivalent value.
• Following this transaction, Tobin directly owns 102,730 shares and indirectly owns 147,037 shares through the trust.
• The report also details indirect ownership through various Battery Ventures entities, including Battery Ventures XI-A, L.P., Battery Ventures XI-B, L.P., and others.
• These entities distributed shares pro rata to their partners, including Tobin, which is considered a change in the form of ownership and not a reportable transaction under Section 16.
• Tobin disclaims beneficial ownership of the shares held by the Battery Ventures entities, except to the extent of his pecuniary interest.
• The filing also notes that the reported transactions preceded a subsequent Form 4 filing on April 14, 2025, which reported further transactions.
• The holdings of Class A Common Stock reflected in Column 5 of this filing are accurate as of the date of filing.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to insider transactions and ownership changes, which are common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.

Related Party Transactions

• The transfer of shares to the Scott R. Tobin Irrevocable GST Trust of 2013 could be considered a related party transaction, as the Reporting Person's spouse is the trustee.

Stakeholder Impact

• The transaction itself is unlikely to have a significant impact on stakeholders, as it is a transfer of shares and not a sale on the open market.
• The disclosure provides transparency to shareholders regarding insider transactions.

Key Dates

Keywords

Braze Inc., Scott R. Tobin, Battery Ventures, Class A Common Stock, Beneficial Ownership, Form 4, SEC, Trust, Share Transfer, Director