Battery Partners XI, LLC - Mar 30, 2022 Form 4 Insider Report for Braze, Inc. (BRZE)

Role
10%+ Owner
Signature
/s/ Christopher Schiavo, as Attorney-in-Fact for Battery Partners XI, LLC
Stock symbol
BRZE
Transactions as of
Mar 30, 2022
Transactions value $
$0
Form type
4
Date filed
4/1/2022, 04:16 PM
Previous filing
Dec 1, 2021
Next filing
May 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRZE Class A Common Stock Conversion of derivative security +69.4K 69.4K Mar 30, 2022 By Battery Investment Partners XI, LLC F1, F2, F3
transaction BRZE Class A Common Stock Conversion of derivative security +1.5M 1.5M Mar 30, 2022 By Battery Ventures XI-A, L.P. F1, F3, F4
transaction BRZE Class A Common Stock Conversion of derivative security +396K 396K Mar 30, 2022 By Battery Ventures XI-B, L.P. F1, F3, F5
transaction BRZE Class A Common Stock Conversion of derivative security +1.56M 1.56M Mar 30, 2022 By Battery Ventures XI-A Side Fund, L.P. F1, F3, F6
transaction BRZE Class A Common Stock Conversion of derivative security +337K 337K Mar 30, 2022 By Battery Ventures XI-B Side Fund, L.P. F1, F3, F7
holding BRZE Class A Common Stock 29.3K Mar 30, 2022 By Battery Investment Partners Select Fund I, L.P. F3, F8
holding BRZE Class A Common Stock 1.4M Mar 30, 2022 By Battery Ventures Select Fund I, L.P. F3, F9

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BRZE Class B Common Stock Conversion of derivative security $0 -69.4K -25% $0.00 208K Mar 30, 2022 Class A Common Stock 69.4K By Battery Investment Partners XI, LLC F1, F2, F3
transaction BRZE Class B Common Stock Conversion of derivative security $0 -1.5M -25% $0.00 4.49M Mar 30, 2022 Class A Common Stock 1.5M By Battery Ventures XI-A, L.P. F1, F3, F4
transaction BRZE Class B Common Stock Conversion of derivative security $0 -396K -25% $0.00 1.19M Mar 30, 2022 Class A Common Stock 396K By Battery Ventures XI-B, L.P. F1, F3, F5
transaction BRZE Class B Common Stock Conversion of derivative security $0 -1.56M -25% $0.00 4.67M Mar 30, 2022 Class A Common Stock 1.56M By Battery Ventures XI-A Side Fund, L.P. F1, F3, F6
transaction BRZE Class B Common Stock Conversion of derivative security $0 -337K -25% $0.00 1.01M Mar 30, 2022 Class A Common Stock 337K By Battery Ventures XI-B Side Fund, L.P. F1, F3, F7
holding BRZE Class B Common Stock 222K Mar 30, 2022 Class A Common Stock 222K By Battery Investment Partners Select Fund I, L.P. F1, F3, F8
holding BRZE Class B Common Stock 1.14M Mar 30, 2022 Class A Common Stock 1.14M By Battery Ventures Select Fund I, L.P. F1, F3, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible into one share of Class A Common Stock (A) at any time at the option of the Reporting Person or (B) automatically upon the occurrence of the following: (1) the transfer of such share of Class B Common Stock, except for certain transfers whereby the Reporting Person continues to hold sole voting and dispositive power with respect to each such share, (2) the death of a Class B common stockholder who is a natural person, (3) the last trading day of the fiscal quarter immediately following the fifth anniversary of the Issuer's initial public offering, (4) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B common stock and (5) the last trading day of the fiscal quarter during which the then outstanding shares of Class B Common Stock first represent less than 10% of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock.
F2 Shares are held by Battery Investment Partners XI, LLC ("BIP XI"). Battery Partners XI, LLC ("BP XI") is the managing member of BIP XI. BP XI may be deemed to beneficially own the shares held by BIP XI. BP XI's investment adviser is Battery Management Corp. ("BMC"). Neeraj Agrawal, Michael Brown, Jesse Feldman, Russell Fleischer, Roger Lee, Chelsea Stoner, Dharmesh Thakker, and Scott Tobin (collectively the "BP XI Managing Members") are the managing members of BP XI and may be deemed to share voting and dispositive power over the securities held by BIP XI.
F3 Each of the reporting persons disclaims beneficial ownership of these securities except to the extent of his, her or its 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 of for any other purpose. Mr. Agrawal is a director of the Issuer and files separate Section 16 reports.
F4 Shares are held by Battery Ventures XI-A, L.P. ("BV XI-A"). BP XI is the general partner of BV XI-A. BP XI may be deemed to beneficially own the shares held by BV XI-A. BP XI's investment adviser is BMC. The BP XI Managing Members are the managing members of BP XI and may be deemed to share voting and dispositive power over the securities held by BV XI-A.
F5 Shares are held by Battery Ventures XI-B, L.P. ("BV XI-B"). BP XI is the general partner of BV XI-B. BP XI may be deemed to beneficially own the shares held by BV XI-B. BP XI's investment adviser is BMC. The BP XI Managing Members are the managing members of BP XI and may be deemed to share voting and dispositive power over the securities held by BV XI-B.
F6 Shares are held by Battery Ventures XI-A Side Fund, L.P. ("BV XI-A SF"). Battery Partners XI Side Fund, LLC ("BP XI SF") is the general partner of BV XI-A SF and may be deemed to beneficially own the shares held by BV XI-A SF. BP XI SF's investment adviser is BMC. The BP XI Managing Members are the managing members of BP XI SF and may be deemed to share voting and dispositive power over the securities held by BV XI-A SF.
F7 Shares are held by Battery Ventures XI-B Side Fund, L.P. ("BV XI-B SF"). BP XI SF is the general partner of BV XI-B SF and may be deemed to beneficially own the shares held by BV XI-B SF. BP XI SF's investment adviser is BMC. The BP XI Managing Members are the managing members of BP XI SF and may be deemed to share voting and dispositive power over the securities held by BV XI-B SF.
F8 Shares are held by Battery Investment Partners Select Fund I, L.P. ("BIP Select I"). Battery Partners Select Fund I GP, LLC ("BP Select I GP") is the general partner of BIP Select I and may be deemed to beneficially own the shares held by BIP Select I. BP Select I GP's investment adviser is BMC. The BP XI Managing Members and Morad Elhafed (collectively, the "BP Select Managing Members") are the managing members of BP Select I GP and may be deemed to share voting and dispositive power over the securities held by BIP Select I.
F9 Shares are held by Battery Ventures Select Fund I, L.P. ("BV Select I"). Battery Partners Select Fund I, L.P. ("BP Select I") is the general partner of BV Select I. BP Select I GP is the general partner of BP Select I and may be deemed to beneficially own the shares held by BV Select I. BP Select I GP's investment adviser is BMC. The BP Select Managing Members are the managing members of BP Select I GP and may be deemed to share voting and dispositive power over the securities held by BV Select I.

Remarks:

1 of 2: The number of joint filers exceeds the EDGAR maximum of 10 joint filers per Form. This Form 4 is being filed in conjunction with the Form 4 being filed by Battery Partners Select Fund I GP, LLC and other filing persons.