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 on May 19, 2025, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On May 19, 2025, Jonathan Hyman, the Chief Technology Officer of Braze, Inc., sold 9,197 shares of Class A Common Stock.
- The sale was executed at a weighted average price of $35.88 per share, with individual transactions ranging from $35.76 to $35.88.
- This transaction was part of a non-discretionary sell-to-cover program implemented by Braze to satisfy tax withholding obligations arising from the vesting of Hyman's restricted stock units.
- Following the transaction, Hyman directly owns 214,024 shares, including 161,753 shares represented by restricted stock units.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, indicating stable and expected financial management practices. There is nothing in the document to suggest a negative outlook.
Positives
- The sell-to-cover program is already in place, effective November 16, 2021 and last modified April 30, 2023, which suggests a proactive approach to managing executive compensation and tax obligations.
Industry Context
Sales of shares to cover tax obligations are a common practice among executives who receive equity compensation. This filing indicates standard compensation practices at Braze.
Comparison to Industry Standards
- Sell-to-cover programs are a standard practice among publicly traded companies to manage tax obligations related to equity compensation.
- Comparable companies like Salesforce, Adobe, and HubSpot also have executives who periodically sell shares to cover taxes related to vesting equity.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the routine nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 2021-11-16 | Effective date of the non-discretionary sell-to-cover program. |
| 2023-04-30 | Last modified date of the non-discretionary sell-to-cover program. |
| 2025-05-19 | Date of the stock sale transaction. |
| 2025-05-21 | Date of the signature on the Form 4 filing. |
Keywords
Form 4, Braze Inc., Jonathan Hyman, Chief Technology Officer, Stock Sale, Tax Withholding, Restricted Stock Units, BRZE
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