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

Director Andrew Stafman received 7,039 Restricted Stock Units (RSUs) from Twilio and transferred them to Sachem Head Capital Management LP.

Summary

• Andrew Stafman, a director at Twilio, received 7,039 Restricted Stock Units (RSUs) on March 30, 2024.
• These RSUs represent the contingent right to receive one share of Twilio's Class A common stock each.
• The RSUs will vest in three tranches: 9.4% on June 13, 2024, 45.3% on the one-year anniversary of June 13, 2024, and 45.3% on the two-year anniversary, contingent upon continued service as a director.
• Stafman transferred all rights to these RSUs to Sachem Head Capital Management LP for no consideration.
• The filing also reports Sachem Head Capital Management LP's ownership of 3,295,000 shares of Twilio's Class A common stock.
• Other reporting persons include Sachem Head Capital Management LP, Uncas GP LLC, Sachem Head GP LLC, and Scott D. Ferguson, who may be deemed beneficial owners of the reported securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

This filing reflects standard executive compensation practices involving stock-based awards. The transfer of RSUs to Sachem Head suggests a pre-existing agreement or understanding between the parties.

Related Party Transactions

• Andrew J. Stafman transferred all rights, title, interest, claims, and any other ownership interests in such Subject Securities to Sachem Head for no consideration.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves the transfer of RSUs, which will eventually convert to shares.
• The vesting schedule ensures continued service of the director.

Key Dates