Form 4: ICONIQ Strategic Partners Distributes Braze, Inc. Class A Common Stock to Limited Partners

ICONIQ Strategic Partners distributed shares of Braze, Inc. Class A Common Stock to its limited partners and related entities on September 9, 2024, at no consideration.

Summary

• ICONIQ Strategic Partners III, L.P. distributed 725,159 shares of Braze, Inc.'s Class A Common Stock to its limited partners and ICONIQ Strategic Partners III GP, L.P. on September 9, 2024.
• ICONIQ Strategic Partners III-B, L.P. distributed 774,841 shares of Braze, Inc.'s Class A Common Stock to its limited partners and ICONIQ Strategic Partners III GP, L.P. on the same date.
• These distributions were made pro rata and without consideration, in accordance with exemptions under the Securities Exchange Act of 1934.
• The filing also details the indirect beneficial ownership of Class A Common Stock by various ICONIQ entities and individuals, including Divesh Makan, William J.G. Griffith, and Matthew Jacobson.
• These individuals disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a distribution of shares, indicating a neutral sentiment.

Positives

• The distributions were made in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.

Industry Context

This filing reflects the ongoing management of investment portfolios by ICONIQ Strategic Partners, a common activity for investment firms holding significant positions in publicly traded companies like Braze, Inc.

Comparison to Industry Standards

• Similar distributions of stock to limited partners are common among private equity and venture capital firms.
• The reporting requirements under Section 16 of the Securities Exchange Act are standard practice for entities holding more than 10% of a company's stock.

Stakeholder Impact

• The distribution of shares may have a minor impact on the shareholder base of Braze, Inc.

Key Dates