Form 4: ICONIQ Capital Partner Douglas Pepper Reports Conversion of Braze Inc. Class B Common Stock to Class A Common Stock

Douglas Pepper, a partner at ICONIQ Capital and a director of Braze, Inc., reported the conversion of Class B Common Stock to Class A Common Stock by ICONIQ Strategic Partners.

Summary

• On March 22, 2024, Douglas Pepper, a director of Braze, Inc., filed a Form 4 with the SEC.
• The filing reports transactions involving Class A and Class B Common Stock of Braze, Inc. by entities affiliated with ICONIQ Capital.
• ICONIQ Strategic Partners III, L.P. converted 1,450,318 shares of Class B Common Stock into Class A Common Stock.
• ICONIQ Strategic Partners III-B, L.P. converted 1,549,682 shares of Class B Common Stock into Class A Common Stock.
• Following these transactions, ICONIQ Strategic Partners III, L.P. holds 2,843,172 shares of Class A Common Stock indirectly.
• ICONIQ Strategic Partners III-B, L.P. holds 3,037,961 shares of Class A Common Stock indirectly.
• ICONIQ Strategic Partners VI, L.P. holds 752,506 shares of Class A Common Stock indirectly.
• ICONIQ Strategic Partners VI-B, L.P. holds 1,036,124 shares of Class A Common Stock indirectly.
• Douglas Pepper directly holds 78,946 shares of Class A Common Stock through a family trust.
• The filing also details the indirect ownership structure involving ICONIQ Strategic Partners GP entities and their general partners.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock conversion, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for insiders of publicly traded companies to report transactions in their company's stock, providing transparency to investors.

Stakeholder Impact

• The conversion of Class B shares to Class A shares could have a minor impact on the overall share structure of Braze, Inc.

Key Dates