[144] Braze, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for Braze, Inc. (BRZE) reports a proposed sale of 3,270 common shares through Morgan Stanley Smith Barney LLC on 09/05/2025 with an aggregate market value of $90,448.20. The shares were acquired on 08/15/2025 as Restricted Stock Units issued by the company and are noted as paid on 08/15/2025. The filing lists two prior sales by Astha Malik during the past three months: 13,049 shares sold on 08/19/2025 for $338,491.06 and 9,001 shares sold under a 10b5-1 plan on 07/28/2025 for $270,150.18. The filer certifies no undisclosed material adverse information and includes the standard Rule 10b5-1 representation language.

Positive

• Disclosure compliance: The filer submitted a Rule 144 notice specifying broker, amount, date, and acquisition details.
• Source of shares disclosed: Shares to be sold were acquired as Restricted Stock Units from the issuer on 08/15/2025.

Negative

• Recent insider selling: The filing and prior sales show 22,050 shares sold in the past three months (13,049 on 08/19/2025 and 9,001 on 07/28/2025), which may indicate notable insider liquidity.
• Limited context: The notice does not provide the seller's remaining ownership or percent of outstanding shares, preventing assessment of whether sales are material to insider ownership.

Insights

Securities Analyst

TL;DR Insider-originated sales continue; the current notice is routine disclosure of RSU-derived shares sold through a broker.

The filing documents a proposed sale of 3,270 shares acquired as Restricted Stock Units on 08/15/2025 and scheduled to be sold on 09/05/2025 through Morgan Stanley Smith Barney LLC. Recent disclosed sales by Astha Malik total 22,050 shares across two transactions in July and August 2025, with combined gross proceeds of $608,641.24. From a market-impact perspective, this filing is a standard insider sale notice and provides transparency about the source of the shares (RSUs) and timing. The numbers shown allow investors to track insider liquidity but do not by themselves indicate underlying operational changes at the issuer.

Corporate Governance Expert

TL;DR The disclosure follows Rule 144 and includes Rule 10b5-1 sale history; governance implications depend on total insider holdings not provided here.

The notice includes the required representation regarding material nonpublic information and indicates at least one previous 10b5-1 sale. This demonstrates use of a prearranged trading mechanism for part of insider disposition. Without information on the insider's remaining holdings or percentage ownership, it is not possible to assess whether these sales materially alter insider alignment with shareholders. The filing is procedurally compliant but raises routine governance questions about insider liquidity timing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	3270	90448.20	99079819	09/05/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/15/2025	Restricted Stock Units	Issuer			3270	08/15/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ASTHA MALIK 63 Madison Building 28 East 28th Street Floor 12 New York NY 10016	Common	08/19/2025	13049	338491.06
10b5-1 Sales for ASTHA MALIK 63 Madison Building 28 East 28th Street Floor 12 New York NY 10016	Common	07/28/2025	9001	270150.18

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Braze (BRZE) Form 144 filed here report?

It reports a proposed sale of 3,270 common shares to be executed on 09/05/2025 through Morgan Stanley Smith Barney LLC with aggregate market value $90,448.20.

How were the shares acquired that are being sold under this Form 144?

The shares were acquired on 08/15/2025 as Restricted Stock Units (RSUs) issued by the company and paid on the same date.

Did the filing disclose other recent insider sales for BRZE?

Yes. It lists two prior sales by Astha Malik: 13,049 shares on 08/19/2025 for $338,491.06 and 9,001 shares under a 10b5-1 plan on 07/28/2025 for $270,150.18.

Does this Form 144 indicate undisclosed material information about Braze?

The signer certifies they do not know any material adverse information about the issuer that has not been publicly disclosed; the filing itself contains no additional material disclosures.

Which broker is handling the proposed sale?

The sale is to be handled by Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza 8th Floor New York NY 10004.