[Form 4] Confluent, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Neha Narkhede, a director of Confluent, Inc. (CFLT), reported transactions dated 09/09/2025. The filing shows acquisition of 153,200 shares of Class A common stock and an immediate sale of 153,200 shares at $19.85 per share under a previously adopted 10b5-1 plan. After these transactions the reporting person directly beneficially owned 28,549 shares of Class A common stock and indirectly owned 1,787 shares through a trust. The filing also reports derivative activity: 153,200 stock options with a $2.24 exercise price (noted as fully vested) and Class B common stock that may convert to Class A common stock under the issuer’s charter.

Positive

• Use of a 10b5-1 plan for the sale, which provides a documented pre-arranged framework for insider transactions
• Options fully vested (153,200 options at $2.24), clarifying exercisability status

Negative

• Large sale of shares (153,200 Class A shares sold at $19.85), materially reducing direct holdings
• Significant insider monetization disclosed, which may be interpreted by some investors as reduced insider ownership

Insights

Securities Analyst

TL;DR: Director sold a large block of shares under a 10b5-1 plan after exercising vested options.

The filing documents a sizable monetization event by an insider: acquisition/receipt of 153,200 shares paired with a contemporaneous sale of 153,200 Class A shares at $19.85 under a 10b5-1 plan adopted 09/13/2024. The report also shows 153,200 outstanding options with a $2.24 exercise price that are fully vested, and Class B shares that convert to Class A under the charter. For investors, this is a clear disclosure of insider liquidity; it does not, by itself, provide information on the issuer’s operating performance or guidance.

Corporate Governance Expert

TL;DR: Transaction structure aligns with standard governance disclosure and use of a 10b5-1 plan.

The report identifies the use of a Rule 10b5-1 trading plan and shows conversion mechanics between Class B and Class A shares described by the charter. The signature by an attorney-in-fact is provided. These elements reflect routine insider reporting and plan-based sales; the filing documents compliance with Section 16 reporting requirements but does not indicate any governance irregularity in the disclosed transactions.

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^*

Narkhede Neha

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

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	09/09/2025		C		153,200	A	(1)	181,749	D
Class A Common Stock	09/09/2025		S		153,200(2)	D	$19.85	28,549	D
Class A Common Stock								1,787	I	By Trust

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
Stock Option (Right to Buy)	$2.24	09/09/2025		M			153,200	(3)	10/21/2028	Class B Common Stock	153,200	$0	610,602	D
Class B Common Stock	(1)	09/09/2025		M		153,200		(1)	(1)	Class A Common Stock	153,200	$0	1,236,929	D
Class B Common Stock	(1)	09/09/2025		C			153,200	(1)	(1)	Class A Common Stock	153,200	$0	1,083,729	D

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 plan adopted September 13, 2024.

3. Fully vested.

	/s/ Weilyn Wood, Attorney-in-Fact	09/11/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Neha Narkhede report for Confluent (CFLT)?

She reported acquisition and immediate sale of 153,200 Class A shares on 09/09/2025, and holds options and convertible Class B shares

At what price were the shares sold?

153,200 Class A shares were sold at $19.85 per share

Was the sale pursuant to a 10b5-1 plan?

Yes—the filing states the sale was made pursuant to a 10b5-1 plan adopted on 09/13/2024

How many shares does the reporting person beneficially own after the reported transactions?

Directly beneficially owned: 28,549 Class A shares; Indirectly beneficially owned: 1,787 shares by trust

Are there outstanding options and are they exercisable?

Yes—153,200 stock options at a $2.24 exercise price are reported as fully vested