FERNANDEZ PHILLIP M 4

What Happened Phillip M. Fernandez, a Braze director, recorded a conversion-style transaction on Jan 30, 2026: 145,692 derivative shares were reported as both disposed and acquired at $0.00 (code J). The filing shows this was a non‑cash conversion/recategorization of derivative securities (no sale or purchase for consideration).

Key Details

• Transaction date: January 30, 2026; Form 4 filed February 2, 2026 (period of report Jan 30, 2026).
• Reported entries: 145,692 shares disposed @ $0.00 and 145,692 shares acquired @ $0.00 (derivative; transaction code J).
• Consideration: $0.00 — no cash changed hands.
• Footnote F1: All outstanding Class B common stock automatically converted into Class A common stock on Jan 30, 2026; outstanding options on Class B were converted into options on the same number of Class A shares.
• Footnote F2: The award referenced in the filing is fully vested.
• Shares owned after transaction: not specified in this filing.

Context Code J typically indicates a corporate action or conversion rather than a market buy or sale. Here, the filing reflects an automatic structural conversion (Class B → Class A and related option conversions), so it does not by itself signal a change in insider sentiment or generate proceeds. This was a reporting of a reclassification/derivative conversion, not a sale or exercise for cash.