Braze, Inc 8-K, filed Apr 4, 2023
Braze, Inc. (BRZE)
8-K
2023-04-04
For: 2023-04-04
View Original
Added on
April 08, 2026
About this 8-K
Braze, Inc filed this 8-K on April 4, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 4, 2023
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(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of principal executive offices, including zip code)
(609 ) 964-0585
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a)
On April 4, 2023, Matthew Jacobson, a director of Braze, Inc. (the “Company”), notified the Company’s board of directors (the “Board”) that he is resigning from his position as a member of the Board, effective immediately. Mr. Jacobson was a member of the Company’s audit committee. His resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
(d)
On April 4, 2023, the Board appointed Fernando Machado to serve as a director of the Company, effective immediately. Mr. Machado will serve as a Class I director whose term will expire at the Company’s 2025 annual meeting of stockholders.
There is no arrangement or understanding between Mr. Machado and any other person pursuant to which he was selected as a director of the Company, and there is no family relationship between Mr. Machado and any of the Company’s other directors or executive officers. The Company is not aware of any transaction involving Mr. Machado requiring disclosure under Item 404 of Regulation S-K.
Mr. Machado was also appointed as a member of the Board’s compensation committee. In connection with Mr. Machado’s appointment to the Board, the Board updated its committees such that (i) the members of the audit committee of the Board include David Obstler (chair), Phillip Fernandez and Doug Pepper; (ii) the members of the compensation committee of the Board include Phillip Fernandez (chair), Tara Levy and Fernando Machado; and (iii) the members of the nominating and corporate governance committee include Tara Levy (chair) and Neeraj Agrawal.
Mr. Machado, 49, has served as the global chief marketing officer of The Not Company, Inc. (also known as NotCo) since April 2023. Prior to NotCo, Mr. Machado served as chief marketing officer at Activision Blizzard, Inc. from April 2021 to March 2023. Prior to Activision Blizzard, Mr. Machado served as served as the global chief marketing officer of Restaurant Brands International Inc. from January 2020 to April 2021. Prior to Restaurant Brands International, Mr. Machado served multiple roles at Burger King Corporation, including as Global Chief Marketing Officer from October 2017 to January 2020 and head of brand marketing from March 2014 to September 2017. Prior to Restaurant Brands International, Mr. Machado served multiple roles at Unilever PLC from January 1998 to March 2014. Mr. Machado holds an MBA from INSEAD and a BS in mechanical engineering from the University of Campinas. The Board believes that Mr. Machado is qualified to serve as a member of the Board because of his extensive experience in global marketing organizations.
Mr. Machado will be entitled to participate in the Company’s non-employee director compensation policy. Pursuant to such policy, upon commencement of his service as a director, Mr. Machado was granted a restricted stock unit award for 7,085 shares of the Company’s Class A common stock under its 2021 Equity Incentive Plan, with the shares vesting in three equal annual installments, subject to his continued service as a director through each applicable vesting date. Additionally, in accordance with the Company’s non-employee director compensation policy, Mr. Machado will be entitled to receive a $30,000 annual cash retainer for his service as director, plus an additional $7,000 annual cash retainer for his service on the Board’s compensation committee. At each annual stockholder meeting following which Mr. Machado commences his service as a director (beginning with the 2023 annual meeting of stockholders), Mr. Machado will be entitled to receive an additional restricted stock unit award valued at $175,000; provided that his award at the 2023 annual meeting of stockholders will be prorated for his service time as director as of such date. This annual restricted stock unit award will vest in full on the earliest of (i) the first anniversary of the grant date, or (ii) the day before the first annual stockholders meeting occurring after the grant date, subject in each case to his continued service on such vesting date. Mr. Machado’s unvested restricted stock unit awards will also vest in full immediately prior to the occurrence of a change of control of the Company, subject to his continued service on such vesting date. Mr. Machado has also entered into the Company’s standard form of indemnification agreement.
Item 7.01. Regulation FD Disclosure.
On April 4, 2023, the Company issued a press release related to the matters described in this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated herein by reference.
The information contained in this Item 7.01 and Item 9.01 in this Current Report on Form 8-K, including the accompanying Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
104 Cover Page Interactive Data (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BRAZE, INC.
By: /s/Susan Wiseman
Susan Wiseman
General Counsel
Dated: April 4, 2023
Braze Appoints Fernando Machado to Board of Directors
Tenured Global CMO Brings Relevant Marketing Industry Experience to Board
NEW YORK, April 4, 2023 – Braze (Nasdaq: BRZE), the comprehensive customer engagement platform that powers interactions between consumers and the brands they love, today announced the appointment of Fernando Machado, NotCo Global Chief Marketing Officer, to its Board of Directors. Fernando will replace Matthew Jacobson, an early investor in Braze who is stepping down from the Braze Board of Directors after more than five years of service.
“Fernando is a visionary who has led some of the world’s best brands and created award-winning, innovative marketing campaigns leveraging sophisticated customer engagement strategies,” said Bill Magnuson, Cofounder and CEO of Braze. “Fernando has a strong conviction for how the interplay of creativity and technology can create brilliant experiences that delight consumers, build brand loyalty, and accelerate business outcomes. He brings tremendous marketing industry experience to our Board of Directors.”
Fernando is an award-winning marketing innovator, providing inspiration on the basis of his creative genius, as well as a passion for growing brands and businesses. With nearly 30 years of experience, he has a strong reputation for his distinctive propositions, innovation, design, technology, and overall marketing approach. Fernando Machado is currently the global chief marketing officer of NotCo, the international plant-based food tech unicorn transforming the food industry by delivering elevated plant-based options to consumers. Before heading to NotCo, Machado spent two years as chief marketing officer at Activision Blizzard, where he was responsible for the marketing initiatives of some of the most exciting titles in the gaming industry. Additionally, Fernando served as CMO for Restaurant Brands International (RBI) across brands like Burger King, Popeyes and Tim Hortons, where he oversaw award-winning campaigns such as the Burger King Whopper Detour which garnered three Grand Prix wins, including the coveted Titanium Grand Prix, at the 2019 Cannes Lions International Festival of Creativity. Prior to Restaurant Brands International, he worked for 18 years at Unilever, where he climbed the ranks by working on different product categories and brands.
“I’ve seen firsthand how Braze makes it possible for brands to bring relevant and meaningful real-time customer experiences to life, and I’m excited to continue working closely with the market leader in customer engagement,” said Machado. “It's imperative for brands to be able to pair creativity, data, and technology together to create memorable experiences that stand out from the competition, and nobody does this better than Braze.”
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the future growth of Braze. These forward-looking statements are based on the current assumptions, expectations and beliefs of Braze, and are subject to substantial risks, uncertainties and changes in circumstances that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Further information on potential factors that could affect Braze results are included in Braze’s Annual Report on Form 10-K for the fiscal year ended January 31, 2023, filed with the U.S. Securities and Exchange Commission on March 31, 2023, and the other public filings of Braze with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the views of Braze only as of the date of this press release, and Braze assumes no obligation, and does not intend to update these forward-looking statements, except as required by law.
About Braze
Braze is a leading comprehensive customer engagement platform that powers interactions between consumers and brands they love. With Braze, global brands can ingest and process customer data in real time, orchestrate and optimize contextually relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies. Braze has been recognized as one of Fortune’s 2022 Best US Workplaces in Technology, Fortune’s 2022 Best US Workplaces for Women, 2022 UK Best Workplaces for Women by Great Place to Work, and Fortune's 2022 Best US Workplace for Millennials. The company is headquartered in New York with offices in Austin, Berlin, Chicago, London, Paris, San Francisco, Singapore, and Tokyo. Learn more at braze.com.
Media Contact
Hannah Blackington
Director, Global Communications
press@braze.com