Form 4: Twilio Chief Legal Officer Sells Shares Under 10b5-1 Trading Plan

Twilio's Chief Legal Officer, Dana Wagner, sold 4,629 shares of Class A Common Stock at $110 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Dana Wagner, Chief Legal Officer and Secretary of Twilio Inc., sold 4,629 shares of Class A Common Stock on December 4, 2024.
• The shares were sold at a price of $110 per share.
• The transaction was executed under a pre-arranged 10b5-1 trading plan established on May 21, 2024.
• Following the transaction, Wagner beneficially owns 125,576 shares, some of which are in the form of Restricted Stock Units (RSUs).

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an insider stock sale under a pre-arranged plan. It does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 trading plans to sell shares in a pre-planned manner to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a standard practice among publicly traded companies to allow insiders to sell shares without the appearance of trading on non-public information.
• The volume of shares sold is relatively small compared to the total outstanding shares of Twilio, and is not unusual for executive stock sales.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but is unlikely to significantly affect the share price given the pre-planned nature of the transaction.

Key Dates

Keywords

Twilio, insider trading, Form 4, stock sale, Dana Wagner, 10b5-1 plan, Class A Common Stock, restricted stock units, TWLO