Form 4: Braze Inc. General Counsel Susan Wiseman Reports Stock Sale to Cover Tax Obligations
SEC Form 4 Filing
Susan Wiseman, General Counsel of Braze, Inc., sold 5,143 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, Susan Wiseman, the General Counsel of Braze, Inc., sold 5,143 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 $35.74 to $35.88.
- This transaction was part of a pre-existing non-discretionary sell-to-cover program implemented by Braze, effective November 16, 2021, and last modified on April 30, 2023.
- The purpose of the sale was to satisfy tax withholding obligations arising from the vesting of Wiseman's restricted stock units.
- Following the reported transaction, Wiseman still beneficially owns 243,856 shares, including 98,748 shares represented by restricted stock units.
Sentiment
Score: 5
Explanation: The document describes a routine stock sale to cover tax obligations, which is neither particularly positive nor negative. It's a neutral event in the context of executive compensation.
Industry Context
Sales of stock to cover tax obligations are a routine part of equity compensation programs. This transaction is not necessarily indicative of the General Counsel's sentiment towards the company.
Comparison to Industry Standards
- Sell-to-cover programs are a common practice among publicly traded companies to facilitate the vesting of employee stock options and restricted stock units.
- Many companies, such as Salesforce (CRM) and Workday (WDAY), have similar programs in place to manage tax obligations for their employees.
- The weighted average price of $35.88 is within the typical range observed for stock sales related to tax obligations.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the small volume of shares sold.
- The transaction ensures that the executive is able to meet their tax obligations related to their compensation.
Key Dates
| Date | Description |
|---|---|
| November 16, 2021 | Effective date of the non-discretionary sell-to-cover program. |
| April 30, 2023 | Last modified date of the non-discretionary sell-to-cover program. |
| May 19, 2025 | Date of the stock sale transaction. |
| May 21, 2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Braze Inc., BRZE, Susan Wiseman, General Counsel, Stock Sale, Sell-to-Cover, Restricted Stock Units, Tax Obligations, Beneficial Ownership
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