[Form 4] Confluent, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Confluent, Inc. (CFLT) – Form 4 insider transaction

On 06/20/2025, Chief Revenue Officer Ryan Norris Mac Ban reported two open-market sales of the company’s Class A common stock:

• 7 shares at $23.19 per share
• 1,218 shares at $23.49 per share

The aggregate disposition totals 1,225 shares, representing proceeds of roughly $28,700. After the transactions, Mac Ban’s direct holdings stand at 411,830 shares.

The filing notes that the sales were executed solely to satisfy tax-withholding obligations associated with previously vested restricted stock units (RSUs). No derivative securities were exercised or disposed of, and no changes were reported in indirect ownership.

Because the disposition is modest relative to the executive’s remaining stake—and explicitly linked to tax withholding—the event is generally regarded as routine rather than a directional signal on the company’s fundamentals. Nevertheless, investors tracking insider activity may note that the CRO retains ownership of more than 400 k shares, indicating continued alignment with shareholder interests.

Insights

Securities Analyst

TL;DR: Small, tax-motivated sale; negligible strategic impact.

The 1,225-share sale by Confluent’s CRO equates to less than 0.3% of his 413k-share position and roughly 0.1% of average daily volume. The Form 4 explicitly discloses the sale’s purpose—tax withholding on RSU vesting—minimizing concerns about negative information asymmetry. With no derivative activity and a sizable residual stake, the transaction is immaterial to both float dynamics and the executive’s incentive structure. I view the filing as neutral to Confluent’s valuation narrative.

Corporate Governance Expert

TL;DR: Routine Rule 10b5-1/tax sale; corporate governance posture unchanged.

The filing notes a potential Rule 10b5-1 framework and clarifies the tax-coverage motive. Such transparency aligns with SEC best practices and reduces governance risk. No red flags emerge regarding timing, volume, or undisclosed pledging. Insider ownership remains substantial, preserving the executive’s economic exposure. Accordingly, the governance impact is neutral.

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).

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^*

Mac Ban Ryan Norris

(Last) (First) (Middle)

C/O CONFLUENT, INC.

899 W. EVELYN AVE.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Revenue Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

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	06/20/2025		S		7(1)	D	$23.19	413,048	D
Class A Common Stock	06/20/2025		S		1,218(1)	D	$23.49	411,830	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

Explanation of Responses:

1. Represents the number of shares sold by the reporting person to cover the tax obligation realized upon the vesting of restricted stock units previously reported in Table I.

	/s/ Weilyn Wood, Attorney-in-Fact	06/24/2025
	** 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

How many Confluent (CFLT) shares did the CRO sell on 06/20/2025?

The Chief Revenue Officer sold 1,225 Class A shares in two transactions.

What was the average sale price for the insider transactions?

Shares were sold at $23.19 and $23.49, averaging roughly $23.46 per share.

Why did the Confluent executive sell shares according to the Form 4?

The filing states the sales were to cover tax obligations arising from the vesting of restricted stock units.

How many shares does the CRO still own after the sale?

Post-transaction, the executive directly owns 411,830 Class A shares.

Is the Form 4 sale considered material for Confluent investors?

Given the small volume (<0.3% of the insider’s stake), analysts typically view it as not materially impactful.