Form 4: Twilio's Chief Legal Officer, Dana Wagner, Sells Shares Under 10b5-1 Trading Plan

Dana Wagner, Chief Legal Officer and Secretary of Twilio Inc., sold 4,512 shares of Class A Common Stock at an average price of $80.0028 per share on October 31, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On October 31, 2024, Dana Wagner, the Chief Legal Officer and Secretary of Twilio Inc., sold 4,512 shares of Class A Common Stock.
• The sales were executed under a 10b5-1 trading plan established on May 21, 2024.
• The shares were sold at a weighted average price of $80.0028, with individual transactions ranging from $80.00 to $80.025 per share.
• Following the transaction, Wagner directly owns 142,291 shares of Twilio's Class A Common Stock.
• A portion of these shares represent Restricted Stock Units (RSUs), each representing a contingent right to receive one share of Issuer's Class A common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider stock sale under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information. The impact on Twilio's stock is likely minimal unless there are significant or unusual patterns in insider selling.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates