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

Twilio's Chief Legal Officer, Dana Wagner, sold 4,512 shares of Class A Common Stock at an average price of $100.3205 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Dana Wagner, the Chief Legal Officer and Secretary of Twilio Inc., sold 4,512 shares of Class A Common Stock on November 14, 2024.
• The sale was executed under a pre-arranged 10b5-1 trading plan established on May 21, 2024.
• The shares were sold at a weighted average price of $100.3205, with individual transactions ranging from $100.00 to $100.495 per share.
• Following the transaction, Wagner directly owns 133,267 shares of Twilio's Class A Common Stock, some of which are in the form of Restricted Stock Units (RSUs).

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing for insider transactions and is common for executives who use 10b5-1 trading plans to manage their stock holdings.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are a common practice across publicly traded companies, including technology firms like Twilio.
• The volume of shares sold is relatively small compared to the total outstanding shares of Twilio, which is typical for routine executive sales.
• Similar filings are regularly seen from executives at companies like Salesforce (CRM), Zoom (ZM), and other tech companies.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders as it is a routine transaction under a pre-arranged plan.

Key Dates

Keywords

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