STOCK TITAN

[Form 4] Braze, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Malik Pankaj, Chief Accounting Officer of Braze, Inc. (BRZE), reported a sale of 2,344 shares of Class A common stock on 08/19/2025 at a price of $25.94 per share. The filing states the sale was effected under the company’s non-discretionary sell-to-cover program, implemented November 16, 2021 and last modified April 15, 2024, to satisfy tax withholding on vested restricted stock units. After the transaction, the reporting person beneficially owned 66,930 shares, of which 37,756 are represented by restricted stock units. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Malik Pankaj, Responsabile della contabilità di Braze, Inc. (BRZE), ha venduto 2.344 azioni di azioni ordinarie di Classe A il 08/19/2025 al prezzo di $25,94 per azione. La comunicazione indica che la vendita è stata eseguita nell’ambito del programma non discrezionale di sell-to-cover della società, avviato il 16 novembre 2021 e aggiornato l’ultima volta il 15 aprile 2024, per coprire le ritenute fiscali sulle restricted stock unit maturate. Dopo l’operazione, la persona che ha effettuato la segnalazione deteneva in via beneficiaria 66.930 azioni, di cui 37.756 rappresentate da restricted stock unit. Il Modulo 4 è stato firmato da un procuratore per conto della persona che segnala.

Malik Pankaj, Director de Contabilidad de Braze, Inc. (BRZE), informó la venta de 2.344 acciones ordinarias Clase A el 08/19/2025 a $25,94 por acción. El informe señala que la venta se realizó bajo el programa no discrecional de sell-to-cover de la compañía, implementado el 16 de noviembre de 2021 y modificado por última vez el 15 de abril de 2024, para cubrir las retenciones fiscales sobre las restricted stock units que han vencido. Tras la transacción, la persona informante poseía beneficiariamente 66.930 acciones, de las cuales 37.756 están representadas por restricted stock units. El Formulario 4 fue firmado por un apoderado en nombre del informante.

Malik Pankaj, Braze, Inc. (BRZE)의 최고회계책임자(Chief Accounting Officer)는 2025/08/19에 클래스 A 보통주 2,344주를 주당 $25.94에 매도했다고 보고했습니다. 제출서에는 이번 매도가 2021년 11월 16일에 시행되고 2024년 4월 15일에 마지막으로 수정된 회사의 비재량적 sell-to-cover 프로그램에 따라 이루어졌으며, 이는 취득한 제한주식단위(Restricted Stock Units)의 세금 원천징수를 충당하기 위한 것이라고 명시되어 있습니다. 거래 이후 보고인은 총 66,930주를 실질적으로 보유하고 있으며, 그 중 37,756주는 제한주식단위로 표시되어 있습니다. Form 4는 보고인을 대신해 대리인이 서명했습니다.

Malik Pankaj, directeur comptable de Braze, Inc. (BRZE), a déclaré la vente de 2 344 actions ordinaires de classe A le 08/19/2025 au prix de 25,94 $ par action. Le dépôt indique que la vente a été effectuée dans le cadre du programme non discrétionnaire de sell-to-cover de la société, mis en place le 16 novembre 2021 et modifié pour la dernière fois le 15 avril 2024, afin de couvrir les retenues fiscales sur les restricted stock units acquises. Après la transaction, la personne déclarée détenait bénéficiairement 66 930 actions, dont 37 756 représentées par des restricted stock units. Le formulaire 4 a été signé par un mandataire au nom de la personne déclarée.

Malik Pankaj, Chief Accounting Officer von Braze, Inc. (BRZE), meldete am 08/19/2025 den Verkauf von 2.344 Aktien der Klasse A zum Preis von $25,94 je Aktie. Die Anmeldung gibt an, dass der Verkauf im Rahmen des nicht-diskretionären sell-to-cover-Programms des Unternehmens vorgenommen wurde, das am 16. November 2021 eingeführt und zuletzt am 15. April 2024 geändert wurde, um die Steuerabzüge auf fällig gewordene Restricted Stock Units zu begleichen. Nach der Transaktion hielt die meldende Person wirtschaftlich 66.930 Aktien, davon sind 37.756 durch Restricted Stock Units dargestellt. Das Formular 4 wurde von einem Bevollmächtigten im Namen der meldenden Person unterzeichnet.

Positive
  • Transaction executed under an established sell-to-cover plan, demonstrating use of a pre-authorized, non-discretionary program
  • Full disclosure of post-transaction ownership: reporting person retains 66,930 shares, providing transparency
  • Filing includes RSU detail: 37,756 of the shares are represented by restricted stock units, clarifying holdings
Negative
  • Insider sale reduced direct holdings by 2,344 shares, which is a realized disposition of company stock

Insights

TL;DR: Routine insider sale under a tax-related sell-to-cover program; limited direct market impact.

The Form 4 documents a small, specific disposition of 2,344 shares by Braze’s Chief Accounting Officer at $25.94 per share. The filing explicitly states the sale was executed via the issuer’s non-discretionary sell-to-cover plan to satisfy tax withholding on RSU vesting. Because the transaction is tax-driven and the reporting person retains 66,930 shares (including 37,756 RSUs), this disclosure signals compliance and routine liquidity management rather than a strategic change in insider position.

TL;DR: Disclosure aligns with Section 16 obligations and 10b5-1 program use; governance and reporting practices are intact.

The Form 4 indicates the issuer maintains a documented sell-to-cover mechanism and the reporting officer used it in accordance with stated plan dates. The filing includes required details: transaction date, price, shares sold, and post-transaction beneficial ownership, and it was signed by an attorney-in-fact. These elements reflect adherence to insider-trading disclosure rules and established equity-compensation administration.

Malik Pankaj, Responsabile della contabilità di Braze, Inc. (BRZE), ha venduto 2.344 azioni di azioni ordinarie di Classe A il 08/19/2025 al prezzo di $25,94 per azione. La comunicazione indica che la vendita è stata eseguita nell’ambito del programma non discrezionale di sell-to-cover della società, avviato il 16 novembre 2021 e aggiornato l’ultima volta il 15 aprile 2024, per coprire le ritenute fiscali sulle restricted stock unit maturate. Dopo l’operazione, la persona che ha effettuato la segnalazione deteneva in via beneficiaria 66.930 azioni, di cui 37.756 rappresentate da restricted stock unit. Il Modulo 4 è stato firmato da un procuratore per conto della persona che segnala.

Malik Pankaj, Director de Contabilidad de Braze, Inc. (BRZE), informó la venta de 2.344 acciones ordinarias Clase A el 08/19/2025 a $25,94 por acción. El informe señala que la venta se realizó bajo el programa no discrecional de sell-to-cover de la compañía, implementado el 16 de noviembre de 2021 y modificado por última vez el 15 de abril de 2024, para cubrir las retenciones fiscales sobre las restricted stock units que han vencido. Tras la transacción, la persona informante poseía beneficiariamente 66.930 acciones, de las cuales 37.756 están representadas por restricted stock units. El Formulario 4 fue firmado por un apoderado en nombre del informante.

Malik Pankaj, Braze, Inc. (BRZE)의 최고회계책임자(Chief Accounting Officer)는 2025/08/19에 클래스 A 보통주 2,344주를 주당 $25.94에 매도했다고 보고했습니다. 제출서에는 이번 매도가 2021년 11월 16일에 시행되고 2024년 4월 15일에 마지막으로 수정된 회사의 비재량적 sell-to-cover 프로그램에 따라 이루어졌으며, 이는 취득한 제한주식단위(Restricted Stock Units)의 세금 원천징수를 충당하기 위한 것이라고 명시되어 있습니다. 거래 이후 보고인은 총 66,930주를 실질적으로 보유하고 있으며, 그 중 37,756주는 제한주식단위로 표시되어 있습니다. Form 4는 보고인을 대신해 대리인이 서명했습니다.

Malik Pankaj, directeur comptable de Braze, Inc. (BRZE), a déclaré la vente de 2 344 actions ordinaires de classe A le 08/19/2025 au prix de 25,94 $ par action. Le dépôt indique que la vente a été effectuée dans le cadre du programme non discrétionnaire de sell-to-cover de la société, mis en place le 16 novembre 2021 et modifié pour la dernière fois le 15 avril 2024, afin de couvrir les retenues fiscales sur les restricted stock units acquises. Après la transaction, la personne déclarée détenait bénéficiairement 66 930 actions, dont 37 756 représentées par des restricted stock units. Le formulaire 4 a été signé par un mandataire au nom de la personne déclarée.

Malik Pankaj, Chief Accounting Officer von Braze, Inc. (BRZE), meldete am 08/19/2025 den Verkauf von 2.344 Aktien der Klasse A zum Preis von $25,94 je Aktie. Die Anmeldung gibt an, dass der Verkauf im Rahmen des nicht-diskretionären sell-to-cover-Programms des Unternehmens vorgenommen wurde, das am 16. November 2021 eingeführt und zuletzt am 15. April 2024 geändert wurde, um die Steuerabzüge auf fällig gewordene Restricted Stock Units zu begleichen. Nach der Transaktion hielt die meldende Person wirtschaftlich 66.930 Aktien, davon sind 37.756 durch Restricted Stock Units dargestellt. Das Formular 4 wurde von einem Bevollmächtigten im Namen der meldenden Person unterzeichnet.

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).
X
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*
Malik Pankaj

(Last) (First) (Middle)
C/O BRAZE, INC., 63 MADISON BUILDING
28 E. 28TH ST., FLOOR 12 MAILROOM

(Street)
NEW YORK NY 10016

(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Accounting Officer
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025
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 08/19/2025 S(1) 2,344 D $25.94 66,930(2) D
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. This transaction was effected in accordance with a non-discretionary sell-to-cover program implemented by the Issuer, effective November 16, 2021 and last modified April 15, 2024, to satisfy tax withholding obligations arising in connection with the vesting of the Reporting Person's restricted stock units.
2. Of the reported shares, 37,756 shares are represented by restricted stock units.
Remarks:
/s/ Nathan Jeffries, Attorney-in-Fact 08/21/2025
** 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

What shares did Braze (BRZE) officer Malik Pankaj sell on 08/19/2025?

The filing shows a sale of 2,344 shares of Class A common stock at $25.94 per share on 08/19/2025.

Why was the sale of BRZE shares executed by the reporting person?

The sale was effected under the issuer’s non-discretionary sell-to-cover program to satisfy tax withholding obligations arising from vesting restricted stock units.

How many Braze shares does Malik Pankaj beneficially own after the transaction?

After the reported transaction the reporting person beneficially owned 66,930 shares, of which 37,756 are represented by restricted stock units.

When was the sell-to-cover program implemented and last modified?

The Form 4 states the sell-to-cover program was implemented on November 16, 2021 and last modified on April 15, 2024.

Who signed the Form 4 filing for this transaction?

The Form 4 bears the signature of Nathan Jeffries, Attorney-in-Fact, dated 08/21/2025.
Braze, Inc.

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