Malik Pankaj 4

What Happened
Malik Pankaj, Chief Accounting Officer of Braze, sold 2,893 shares on February 18, 2026 at $16.93 per share, for proceeds of $48,978. The transaction is reported as a sale (S) and was effected to satisfy tax withholding obligations related to vested restricted stock units.

Key Details

• Transaction date and price: 2026-02-18, 2,893 shares at $16.93 each (total ~$48,978).
• Transaction type: Sale (S) under a non-discretionary sell-to-cover program (tax withholding).
• Program timing: Sell-to-cover program implemented Nov 16, 2021; last modified Apr 15, 2024 (footnote F1).
• Restricted stock units: Filing notes 24,541 shares are represented by restricted stock units (footnote F2).
• Filing: Form 4 filed 2026-02-20 (two days after the transaction), which is timely per standard reporting rules.
• Shares owned after transaction: Not specified as a total in the report; the filing highlights the RSU amount above.

Context
This sale was a routine sell-to-cover to satisfy tax withholding on vested RSUs rather than an opportunistic open-market liquidation; such transactions are common and do not, by themselves, indicate management sentiment about the company's prospects. Purchases by insiders tend to be more informative for bullish signals.