Form 4: Confluent CEO Sells 738,500 Shares Under 10b5-1 Plan

Confluent, Inc. CEO Edward Jay Kreps sold a total of 738,500 shares of Class A Common Stock in December 2025, pursuant to a pre-arranged 10b5-1 trading plan.

Summary

• Edward Jay Kreps, CEO and Director of Confluent, Inc., reported transactions involving the company's Class A and Class B Common Stock.
• On December 12, 2025, Kreps exercised 506,000 stock options for Class B Common Stock (fully vested, exercise price $2.24) and converted these into Class A Common Stock.
• Immediately following the conversion on December 12, 2025, 506,000 shares of Class A Common Stock were sold at prices ranging from $30.02 to $30.10, with an average reported price of $30.04.
• On December 15, 2025, an additional 232,500 shares of Class B Common Stock were converted into Class A Common Stock.
• These 232,500 Class A Common Stock shares were then sold on December 15, 2025, at prices ranging from $30.05 to $30.14, with an average reported price of $30.1.
• All sales were conducted under a Rule 10b5-1 trading plan adopted on August 15, 2024.
• Following these transactions, Kreps directly beneficially owns 339,367 shares of Class A Common Stock and 14,250,000 shares of Class B Common Stock.
• Indirectly, Kreps holds 149,984 Class B shares through The Edward J. Kreps and Jamaica H. Kreps 2018 Revocable Trust, and 2,000,000 Class B shares through two GST Exempt Trusts under The Kreps Family 2019 Irrevocable Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine disclosure of insider transactions conducted under a pre-arranged 10b5-1 plan, which typically mitigates negative interpretations of insider selling.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates a planned divestment strategy rather than a reaction to recent company performance, enhancing transparency and reducing concerns about opportunistic insider selling.

Negatives

• Significant insider selling by a Chief Executive Officer, even under a 10b5-1 plan, could be perceived by some investors as a lack of confidence in the company's near-term growth prospects, although this is mitigated by the pre-planned nature of the sales.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of insider trading activity and does not provide specific industry context or trends. Insider sales, even under a 10b5-1 plan, are routinely monitored by the market as part of broader sentiment analysis for a company and its sector.

Related Party Transactions

• Shares are held indirectly by The Edward J. Kreps and Jamaica H. Kreps 2018 Revocable Trust.
• Shares are held indirectly by the GST Exempt Trust under The Kreps Family 2019 Irrevocable Trust.

Stakeholder Impact

• Shareholders: The sale of a significant number of shares by the CEO, even under a 10b5-1 plan, might lead to minor short-term price volatility or questions about management's long-term outlook, though the pre-planned nature generally reduces alarm.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates

Keywords

Confluent, CFLT, Insider Trading, Stock Sale, CEO, Form 4, 10b5-1 Plan, Equity Transaction, Beneficial Ownership