Form 4: Braze Inc. CEO William Magnuson Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
CEO William Magnuson sold 17,840 shares of Braze Inc. Class A Common Stock on August 16, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On August 16, 2024, William Magnuson, CEO of Braze, Inc., sold 17,840 shares of Class A Common Stock at a price of $41.37 per share.
- The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Magnuson directly owns 600,749 shares and indirectly owns 470 shares through a limited liability company.
- The sale was conducted under a pre-existing non-discretionary sell-to-cover program implemented by Braze, Inc.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects a routine transaction for tax purposes and doesn't indicate a change in the executive's overall confidence in the company.
Industry Context
Sales to cover tax obligations are a common practice among executives receiving equity compensation. This filing indicates routine activity rather than a strategic shift in the executive's investment in the company.
Stakeholder Impact
- The sale has a minimal impact on shareholders as it is a routine transaction.
Key Dates
| Date | Description |
|---|---|
| November 16, 2021 | Effective date of the non-discretionary sell-to-cover program implemented by Braze, Inc. |
| April 30, 2023 | Date of the last modification to the non-discretionary sell-to-cover program. |
| August 16, 2024 | Date of the stock sale transaction. |
| August 20, 2024 | Date of signature for the SEC Form 4 filing. |
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