Braze eliminates dual-class stock structure; all Class B shares convert to Class A

Braze, Inc.

On Jan 30, 2026, all outstanding Class B shares automatically converted into Class A shares on a 1:1 basis.
Trigger: Class B shares fell below 10% of total Class A+Class B outstanding as of Oct 21, 2025.
Post-conversion: ~112.7M Class A shares outstanding; all Class B shares retired, reducing authorized capital.
Voting rights per share decreased from 10 votes (Class B) to 1 vote (Class A); economic interests unchanged.
Ticker symbol remains 'BRZE' and CUSIP unchanged; stock continues trading on Nasdaq.

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