[Form 4] Confluent, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Confluent, Inc. (CFLT) insider transaction: Edward J. Kreps, Confluent's chief executive officer and a director, executed a series of transactions on 08/14/2025 under a 10b5-1 trading plan. He acquired 232,500 shares of Class B common stock convertible into Class A, and simultaneously sold a total of 232,500 Class A shares in two blocks—183,227 shares at prices ranging from $16.67 to $17.665 and 49,273 shares at prices ranging from $17.67 to $17.92. Following these transactions, the reporting person directly owned 452,488 shares of Class A common stock.

The filing also discloses substantial indirect holdings through trusts and derivative positions: 14,909,793 Class A shares underlying Class B shares are reported as beneficially owned following the conversion mechanics, and multiple trusts hold additional indirect interests totaling at least 2,149,984 Class A-equivalent shares. The sales were executed pursuant to a 10b5-1 plan adopted on August 15, 2024.

Positive

• Sales executed under a 10b5-1 trading plan, indicating pre-established execution and reduced likelihood of opportunistic timing.
• Reporting person retains substantial indirect holdings (including 14,909,793 Class A-equivalents underlying Class B shares and trusts holding additional shares), maintaining significant economic interest.
• Full transaction details disclosed including price ranges and footnotes describing conversion and trust ownership, supporting transparency.

Negative

• Material insider selling: total of 232,500 Class A shares sold on 08/14/2025, reducing direct holdings to 452,488 shares.
• Sales represent near-term liquidity by the CEO, which may be perceived negatively by some investors despite 10b5-1 coverage.
• Price dispersion across sales (ranges from $16.67 to $17.92) requires the filer to provide detailed per-price breakdowns upon request, indicating multiple execution prices.

Insights

Financial Analyst

Insider sold planned blocks under a 10b5-1 plan; direct holdings fell but indirect holdings remain large.

The transactions appear to be mechanical execution of a pre-established trading plan: acquisition of 232,500 Class B shares (convertible to Class A) and concurrent disposals of the same number of Class A shares in two tranches at prices between $16.67 and $17.92. Direct beneficial ownership decreased to 452,488 Class A shares, but the filing shows substantial indirect/derivative exposure, including 14,909,793 Class A-equivalents underlying Class B shares and trusts holding combined large positions. For investors, the filing documents insider liquidity without indicating company performance changes.

Corporate Governance Expert

Governance signal: sales executed under an established 10b5-1 plan, reducing direct exposure while retaining control via indirect holdings.

The filing explicitly cites a 10b5-1 plan adopted August 15, 2024, which provides affirmative defense to claims of opportunistic insider trading. The Reporting Person remains both CEO and director and maintains significant indirect ownership through trusts and convertible Class B shares, suggesting continued alignment with long-term interests despite near-term sales. The disclosure includes customary conversion mechanics and trust holdings, with clear footnotes describing the nature of indirect ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kreps Edward Jay

(Last) (First) (Middle)

C/O CONFLUENT, INC.

899 W. EVELYN AVENUE

(Street)

MOUNTAIN VIEW CA 94041

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Confluent, Inc. [ CFLT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/14/2025		C		232,500	A	(1)	684,988	D
Class A Common Stock	08/14/2025		S		183,227(2)	D	$17.01(3)	501,761	D
Class A Common Stock	08/14/2025		S		49,273(2)	D	$17.79(4)	452,488	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(1)	08/14/2025		C			232,500	(1)	(1)	Class A Common Stock	232,500	$0	14,909,793	D
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	149,984		149,984	I	See footnote(5)
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	1,000,000		1,000,000	I	See footnote(6)
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	1,000,000		1,000,000	I	See footnote(7)

Explanation of Responses:

1. Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon the sale or transfer of such share of Class B Common Stock, subject to certain exceptions, and in certain other circumstances described in the Issuer's amended and restated certificate of incorporation. Each share of Class B Common Stock will also be convertible at any time at the option of the Reporting Person into one share of Class A Common Stock.

2. Shares sold pursuant to a 10b5-1 trading plan adopted August 15, 2024.

3. The shares were sold at prices ranging from $16.67 to $17.665. The reporting person will provide to the SEC, the issuer or security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The shares were sold at prices ranging from $17.67 to $17.92. The reporting person will provide to the SEC, the issuer or security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The shares are held by The Edward J. Kreps and Jamaica H. Kreps 2018 Revocable Trust.

6. The shares are held by the GST Exempt Trust under The Kreps Family 2019 Irrevocable Trust under agreement dated 9/26/2019.

7. The shares are held by the GST Exempt Trust under The Kreps Family 2019 Irrevocable Trust under agreement dated 9/26/2019.

	/s/ Weilyn Wood, Attorney-in-Fact	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider activity did Confluent (CFLT) report on this Form 4?

Edward J. Kreps, CEO and director, acquired 232,500 Class B shares and sold 232,500 Class A shares on 08/14/2025 pursuant to a 10b5-1 plan.

How many shares did Edward Kreps own after the reported transactions?

Following the transactions, the reporting person directly owned 452,488 Class A shares; the filing also shows substantial indirect holdings including 14,909,793 Class A-equivalents.

At what prices were the Confluent shares sold?

Shares were sold in two ranges: $16.67 to $17.665 for 183,227 shares and $17.67 to $17.92 for 49,273 shares; the filer can provide exact per-price allocations upon request.

Was the sale part of a planned trading arrangement?

Yes. The filing indicates the sales were executed pursuant to a 10b5-1 trading plan adopted on August 15, 2024.

Does the Form 4 indicate any changes in executive roles?

No. The filing identifies Edward J. Kreps as both Chief Executive Officer and a Director and does not report any changes in roles.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Weilyn Wood, Attorney-in-Fact on 08/18/2025 as indicated in the filing.