Form 4: Twilio CEO Khozema Shipchandler Sells Shares to Cover Tax Obligations

Twilio's CEO, Khozema Shipchandler, sold shares of Class A Common Stock on March 31, 2025, to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).

Summary

• On March 31, 2025, Khozema Shipchandler, the CEO of Twilio Inc., sold shares of Class A Common Stock.
• The sales were executed in multiple transactions at weighted average prices of $94.9147, $95.7172, and $96.602 per share.
• A total of 3,738, 2,671, and 5,647 shares were sold in these transactions, respectively.
• These sales were conducted to cover statutory tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs).
• The sales were not discretionary but mandated by Twilio's equity incentive plans, which require a 'sell-to-cover' transaction to satisfy minimum tax obligations.
• Following these transactions, Shipchandler still beneficially owns 295,134 shares of Twilio's Class A Common Stock, a portion of which are RSUs.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock sales for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The 'sell-to-cover' mechanism is a standard practice in many companies.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates

Keywords

Form 4, SEC Filing, Twilio, TWLO, Khozema Shipchandler, CEO, Stock Sale, Restricted Stock Units, RSUs, Tax Withholding, Sell-to-Cover