Form 4: Twilio Director Andrew Stafman Receives and Transfers Restricted Stock Units

Director Andrew Stafman received and immediately transferred 1,007 restricted stock units (RSUs) to Sachem Head Capital Management LP, while Sachem Head Funds continue to hold 3,295,000 shares of Class A common stock.

Summary

• Andrew Stafman, a director at Twilio Inc., received 1,007 Restricted Stock Units (RSUs) on June 5, 2024, which vested immediately.
• These RSUs represent the contingent right to receive one share of Twilio's Class A common stock each.
• Stafman transferred all rights to these RSUs to Sachem Head Capital Management LP for no consideration, pursuant to an arrangement between them.
• The filing also indicates that Sachem Head Funds (Sachem Head LP, Sachem Head Master LP, and SH Stony Creek Master Ltd.) owned 3,295,000 shares of Twilio's Class A common stock prior to the RSU grant.
• The report is jointly filed by Stafman, Sachem Head Capital Management LP, Uncas GP LLC, Sachem Head GP LLC, and Scott D. Ferguson, who may be deemed to have beneficial ownership of the reported securities.
• Each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Stafman's position as a partner at Sachem Head and a director of Twilio may lead to the other reporting persons being considered directors of Twilio by deputization.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating neutral sentiment. It reports transactions without expressing any positive or negative outlook.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Related Party Transactions

• Andrew J. Stafman transferred RSUs to Sachem Head Capital Management LP, a related party due to his position as a partner at Sachem Head.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it involves the transfer of RSUs between related parties and does not significantly alter the overall ownership structure of the company.

Key Dates