Form 4: ICONIQ Strategic Partners Convert Class B Shares to Class A in Braze, Inc.

ICONIQ Strategic Partners and related individuals converted a significant number of Class B Common Stock shares into Class A Common Stock of Braze, Inc. on June 14, 2024.

Summary

• ICONIQ Strategic Partners III, L.P. and related entities and individuals converted Class B Common Stock of Braze, Inc. into Class A Common Stock on June 14, 2024.
• ICONIQ Strategic Partners III, L.P. converted 740,362 shares.
• ICONIQ Strategic Partners III-B, L.P. converted 791,087 shares.
• ICONIQ Strategic Partners V, L.P. converted 924,889 shares.
• ICONIQ Strategic Partners V-B, L.P. converted 1,424,796 shares.
• Several individuals including Divesh Makan, William J.G. Griffith, and Matthew Jacobson are associated with these transactions through their roles in the general partnerships of the ICONIQ Strategic Partners funds.
• The filing clarifies the indirect beneficial ownership and disclaimers related to these conversions.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to share conversion, and does not inherently convey positive or negative sentiment. It's a factual report of transactions.

Industry Context

Conversion of Class B shares to Class A shares is a common corporate action that can impact the share structure and voting rights within a company. This action by a major shareholder like ICONIQ Strategic Partners is noteworthy for Braze, Inc.

Stakeholder Impact

• The conversion of Class B to Class A shares may have a minor impact on shareholders by slightly increasing the number of Class A shares outstanding.

Key Dates