Form 4: Braze Inc. Executive Jonathan Hyman Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jonathan Hyman, Chief Technology Officer of Braze Inc., sold shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On May 16, 2024, Jonathan Hyman, the Chief Technology Officer of Braze, Inc., sold 6,383 shares of Class A Common Stock at a price of $41.76 per share.
- On May 17, 2024, Hyman sold an additional 30 shares of Class A Common Stock at $42.11 per share.
- These transactions were executed under a pre-existing sell-to-cover program to satisfy tax obligations related to the vesting of restricted stock units.
- Following these transactions, Hyman beneficially owns 176,845 shares of Class A Common Stock, of which 149,652 are represented by restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (sell-to-cover) and doesn't inherently indicate positive or negative sentiment. It's a neutral event.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The use of a pre-arranged sell-to-cover program is a standard practice to avoid any appearance of insider trading.
Stakeholder Impact
- The stock sales may have a minor, temporary impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| November 16, 2021 | Effective date of the Issuer's non-discretionary sell-to-cover program. |
| April 30, 2023 | Date the Issuer's non-discretionary sell-to-cover program was last modified. |
| 05/16/2024 | Date of the first transaction: sale of 6,383 shares of Class A Common Stock. |
| 05/17/2024 | Date of the second transaction: sale of 30 shares of Class A Common Stock. |
| 05/20/2024 | Date of signature for the Form 4 filing. |
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