Form 4: ICONIQ Strategic Partners Convert Braze Shares from Class B to Class A
SEC Form 4
ICONIQ Strategic Partners converted a significant number of Braze, Inc. Class B Common Stock shares into Class A Common Stock on March 22, 2024.
Summary
- On March 22, 2024, ICONIQ Strategic Partners III, L.P. converted 1,450,318 shares of Braze, Inc.'s Class B Common Stock into Class A Common Stock.
- Additionally, on the same date, ICONIQ Strategic Partners III-B, L.P. converted 1,549,682 shares of Class B Common Stock into Class A Common Stock.
- The filing also details the beneficial ownership of Class A Common Stock by various ICONIQ Strategic Partners entities, Divesh Makan, William J.G. Griffith, and Matthew Jacobson.
- 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
This filing reflects ongoing transactions by major shareholders in Braze, which is typical for publicly traded companies. Conversions from Class B to Class A stock can impact voting rights and share structure.
Stakeholder Impact
- The conversion of Class B to Class A shares may have a minor impact on the voting power distribution among shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Date of Class B to Class A Common Stock conversion by ICONIQ Strategic Partners III, L.P. and ICONIQ Strategic Partners III-B, L.P. |
| 03/26/2024 | Date of signature for the Form 4 filing. |
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