Braze, Inc. director just cashed-in 1,500 options

Phillip M Fernandez, a director of Braze, Inc., recently cashed-in 1,500 options. The options were exercised at $0.00, while the disposals took place at $49.05 per share, on November 15, 2023. Fernandez continues to hold 11,056 shares of the company. Fernandez operates out of New York, NY. Some additional info was provided as follows:

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 st ockholder 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.
Of the reported shares, 5,846 shares are represented by restricted stock units.
Shares were sold pursuant to a Rule 10b5-1 trading plan adopted on April 5, 2023.
One forty-eighth (1/48th) of the shares subject to the option award vested or shall vest on a monthly basis on the tenth day of each month commencing on June 10, 2019, subject to the Reporting Person's continuous service through such vesting date.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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