[Form 4] Braze, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Intellinetics, Inc. (INLX) – Form 3 Initial Statement of Beneficial Ownership (filed 06/30/2025)

Newly reported insider Russell Jean Bernier, designated as a Director, disclosed his beneficial ownership in Intellinetics as of the event date 06/18/2025. The filing shows no non-derivative common shares presently held, but details 10,100 common shares underlying a mix of warrants and stock options, all held directly and currently exercisable.

• Warrants: 200 shares @ $12.50; 200 shares @ $9.00; 1,200 shares @ $4.00; 4,000 shares @ $4.62 – all expiring 03/30/2027.
• Stock Options: 4,500 shares @ $12.88, expiring 06/20/2035.

The Form 3 is a routine regulatory disclosure filed when an individual first becomes a Section 16 insider. It does not represent an open-market purchase or sale, and therefore does not immediately alter share count or cash flows. The range of exercise prices indicates prior incentive grants at varying valuation levels, offering potential upside alignment with shareholders should the stock price exceed strike levels.

Insights

Securities Compliance Analyst

TL;DR: Routine Form 3; 10,100 derivative shares disclosed; no transaction—neutral impact.

This filing simply registers Mr. Bernier as a new Section 16 insider. All instruments are already vested, so there is no new dilution or cash infusion today. Total potential ownership is modest for a micro-cap and is spread across warrants and long-dated options, aligning compensation with future performance. Because no shares changed hands and the disclosure was expected, market impact should be neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Agrawal Neeraj

(Last) (First) (Middle)

C/O BATTERY VENTURES

ONE MARINA PARK DRIVE, SUITE 1100

(Street)

BOSTON MA 02210

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Braze, Inc. [ BRZE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/26/2025		A		5,033(1)	A	$0	63,348(2)(3)	D
Class A Common Stock								29,250	I	By Battery Investment Partners Select Fund I,L.P.(4)
Class A Common Stock								1,395,750	I	By Battery Ventures Select Fund I,L.P.(5)
Class A Common Stock								753,211(2)(6)	I	By Trust(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported securities represent a restricted stock unit ("RSU") award and shall vest on the earlier of (i) June 26, 2026, or (ii) the date immediately preceding the date of the Issuer's 2026 annual meeting of stockholders, in each case subject to the Reporting Person's continuous service on such vesting date.

2. The securities held by the Reporting Person prior to the transaction reported herein reflect pro rata distributions in kind for no additional consideration, effected by each of Battery Ventures XI-A, L.P., Battery Ventures XI-B, L.P., Battery Ventures XI-A Side Fund, L.P. and Battery Ventures XI-B Side Fund, L.P. to their respective general and limited partners, and the further pro rata distributions in kind, for no additional consideration, of the shares received in such distributions by their general partners, Battery Partners XI, LLC and Battery Partners XI Side Fund, LLC, to their respective members, including the Reporting Person. The receipt of such securities by the Reporting Person constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.

3. The shares held by the Reporting Person reported herein reflect a change in form of ownership, which was exempt from reporting pursuant to Rule 16a-13.

4. Securities are held by Battery Investment Partners Select Fund I, L.P. ("BIP Select I"). The sole general partner of BIP Select I is Battery Partners Select Fund I GP, LLC ("BP Select I GP"). The Reporting Person is a managing member of BP Select I GP and may be deemed to share voting and dispositive power over these securities. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

5. Securities are held by Battery Ventures Select Fund I, L.P. ("BV Select I"). The sole general partner of BV Select I is Battery Partners Select Fund I, L.P. ("BP Select I"). The general partner of BP Select I is BP Select I GP. The Reporting Person is a managing member of BP Select I GP and may be deemed to share voting and dispositive power over theses securities. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

6. The securities held by the Reporting Person prior to the transaction reported herein reflect pro rata distributions in kind, effected by Battery Investment Partners XI, LLC to its members for no additional consideration, including the Reporting Person. The receipt of such securities by the Reporting Person constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.

7. Securities are held by an irrevocable GST trust, of which the Reporting Person's spouse is a trustee. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his proportionate pecuniary interest therein.

	/s/ Christopher Schiavo, as Attorney-in-Fact for Neeraj Agrawal	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Why did Intellinetics (INLX) file a Form 3 on 06/30/2025?

The Form 3 registers Russell Jean Bernier as a new Section 16 insider (Director) and discloses his existing derivative holdings.

How many INLX shares could Mr. Bernier acquire from his derivatives?

He holds derivatives covering 10,100 common shares, all currently exercisable.

What are the exercise prices of the INLX warrants disclosed?

Warrants cover 200 shares @ $12.50, 200 @ $9.00, 1,200 @ $4.00, and 4,000 @ $4.62, expiring 03/30/2027.

When do Mr. Bernier's INLX stock options expire?

The 4,500-share stock option grant expires on 06/20/2035 with an exercise price of $12.88.

Does the Form 3 indicate a purchase or sale of INLX shares?

No. A Form 3 only discloses ownership upon becoming an insider; it does not reflect a transaction.