Jeff Lawson - Jun 28, 2023 Form 4 Insider Report for TWILIO INC (TWLO)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Sarah DiLorenzo as attorney in fact for Reporting Person.
Stock symbol
TWLO
Transactions as of
Jun 28, 2023
Transactions value $
$0
Form type
4
Date filed
6/30/2023, 04:49 PM
Previous filing
Feb 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWLO Class A Common Stock Conversion of derivative security $0 +4.58M +2023.36% $0.00 4.81M Jun 28, 2023 By Lawson Revocable Trust F1
transaction TWLO Class A Common Stock Conversion of derivative security $0 +1.02M $0.00 1.02M Jun 28, 2023 By Lawson 2014 Irrevocable Trust F2
holding TWLO Class A Common Stock 184K Jun 28, 2023 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TWLO Class B Common Stock Conversion of derivative security $0 -4.58M -100% $0.00* 0 Jun 28, 2023 Class A Common Stock 4.58M By Lawson Revocable Trust F1, F4
transaction TWLO Class B Common Stock Conversion of derivative security $0 -1.02M -100% $0.00* 0 Jun 28, 2023 Class A Common Stock 1.02M By Lawson 2014 Irrevocable Trust F2, F4
transaction TWLO Employee Stock Option (right to buy) Other $0 -317K -100% $0.00* 0 Jun 28, 2023 Class A Common Stock 317K $10.09 Direct F5, F6
transaction TWLO Employee Stock Option (right to buy) Other $0 +317K $0.00 317K Jun 28, 2023 Class A Common Stock 317K $10.09 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares are held by Erica Freeman Lawson and Jeffrey Gordon Lawson, as trustees of the Lawson Revocable Trust dated 10/2/11.
F2 Shares are held by JP Morgan Trust Company of Delaware, as trustee of the Lawson 2014 Irrevocable Trust dated 12/29/2014.
F3 A portion of these shares represent Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of Issuer's Class A common stock.
F4 On June 28, 2023, each outstanding share of the Issuer's Class B Common Stock automatically converted into one share of the Issuer's Class A Common Stock, in accordance with the Issuer's Amended and Restated Certificate of Incorporation (the "Conversion").
F5 In connection with the Conversion described in footnote (4), at the time of the Conversion, each outstanding option to purchase shares of the Issuer's Class B Common Stock issued pursuant to the Issuer's Amended and Restated 2008 Stock Option Plan was automatically converted into an option to purchase the same number of shares of the Issuer's Class A Common Stock. Otherwise, the terms of each such option remained unchanged.
F6 The shares subject to this option vested in 48 equal monthly installments, with the first installment on February 15, 2016, subject to the Reporting Person's continuous service to the Issuer on each such date.