Form 4: Braze Director Tara Walpert Levy Reports Equity Transactions, Including RSU Grant and Class B Conversion

Braze, Inc. Director Tara Walpert Levy has filed a Form 4 detailing recent equity transactions, including the conversion of Class B shares to Class A, the exercise of stock options, and the acquisition of restricted stock units.

Summary

• Braze, Inc. Director Tara Walpert Levy reported multiple equity transactions on June 25 and June 26, 2025.
• On June 25, 2025, Ms. Levy converted 73,938 shares of Class B Common Stock into an equal number of Class A Common Stock at a price of $0 per share.
• Concurrently on June 25, 2025, Ms. Levy exercised a fully vested stock option to acquire 73,938 shares of Class A Common Stock at an exercise price of $4.88 per share.
• On June 26, 2025, Ms. Levy acquired 5,033 shares of Class A Common Stock through a restricted stock unit (RSU) award at a price of $0 per share.
• Following these transactions, Ms. Levy's direct beneficial ownership of Class A Common Stock increased from 89,207 shares to 94,240 shares.
• An additional 62,562 shares of Class A Common Stock are held indirectly by a family trust, where Ms. Levy shares voting and investment control, though she disclaims beneficial ownership except for her pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a factual report of insider equity transactions, which are generally neutral in sentiment unless they indicate significant, unexpected sales or purchases. The transactions reported appear to be routine equity compensation and conversion activities.

Positives

• The acquisition of 5,033 Class A Common Stock shares via an RSU award at no cost increases the director's direct equity stake in the company.
• The conversion of Class B to Class A Common Stock simplifies the share structure and increases the director's holdings in the more liquid Class A shares.
• The exercise of a fully vested stock option indicates the director is realizing value from previously granted equity incentives.

Future Outlook

The 5,033 restricted stock units (RSUs) acquired are set to vest on the earlier of June 26, 2026, or the date immediately preceding the Issuer's 2026 annual meeting of stockholders, contingent on the Reporting Person's continuous service.

Industry Context

This filing is a routine insider transaction report and does not provide broader industry context or trends.

Related Party Transactions

• 62,562 shares of Class A Common Stock are held indirectly by a family trust, where the reporting person's spouse is the trustee. The reporting person shares voting and investment control and may be deemed to beneficially own the shares, though she disclaims beneficial ownership except to the extent of her proportionate pecuniary interest.

Stakeholder Impact

• Shareholders: The transactions reflect a director's ongoing equity participation and compensation, aligning their interests with shareholders.

Next Steps

• The vesting of the 5,033 restricted stock units (RSUs) on or before June 26, 2026, subject to continuous service.

Key Dates

Keywords

Braze, BRZE, SEC Form 4, Insider Trading, Equity Transactions, Director, Stock Options, Restricted Stock Units, Class A Common Stock, Class B Common Stock, Corporate Governance