SEC Form 4 · accession 0001127602-18-007871
TWILIO INC · TWLO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
George Hu
Officer — Chief Operating Officer
Period of report
Feb 20, 2018
Accepted (ET)
Feb 22, 2018 · 8:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001447669
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Feb 20, 2018 | A | 96,214 | $0.00 | A | 188,398 | D | |
| Class A Common StockF1,F2 | Feb 21, 2018 | A | 48,107 | $0.00 | A | 236,505 | D | |
| Class A Common StockF4,F2 | Feb 21, 2018 | S | 15,580 | $33.3681 | D | 220,925 | D | |
| Class A Common StockF5,F2 | Feb 21, 2018 | S | 600 | $33.685 | D | 220,325 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F6 | $33.01 | Feb 20, 2018 | A | 96,214 | A | — | Feb 19, 2028 | Class A Common Stock | 96,214 | 96,214 | D |
| Employee Stock Option (right to buy)F7 | $31.72 | holding | — | — | — | — | Feb 27, 2024 | Class A Common Stock | 900,000 | 900,000 | D |
Explanation of responses
- F1The shares reported in this transaction represent Restricted Stock Units ("RSUs"). The RSUs vest as follows: 1/16th of the RSUs shall vest on May 15, 2018, and 1/16th of the RSUs shall vest each quarter thereafter on August 15, November 15, February 15 and May 15, as applicable, for the next 15 quarters, subject to the Reporting Person's continued Service to the Issuer through each vesting date.
- F2A portion of these shares represent RSUs. Each RSU represents the contingent right to receive one share of the Issuer's Class A common stock.
- F3The sales reported were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person.
- F4The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.66 to $33.65 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F5The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.66 to $33.74 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F6The shares subject to this option vest in 48 equal monthly installments, with the first installment on March 15, 2018, subject to the Reporting Person's continuous service to the Issuer through each vesting date.
- F7The shares subject to this option vest as follows: 25% of of the option shall vest on February 28, 2018 and the remaining option shall vest in equal monthly installments over the following three years, subject to the Reporting Person's continued service to the Issuer through each vesting date.