[Form 4] Confluent, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Edward J. Kreps, who is identified as both Chief Executive Officer and a director of Confluent, Inc. (CFLT), reported same-day non-derivative transactions in the issuer's common stock on 09/04/2025. The Form 4 shows 232,500 shares of Class A common stock were acquired (transaction code C) and an equal number, 232,500 shares were sold (transaction code S) at prices reported in a range from $18.35 to $18.955 and an aggregate per-share reference of $18.66 on the form. Following the reported transactions, the filing lists 377,074 shares of Class A common stock beneficially owned directly by the reporting person. The filing also discloses multiple indirect holdings of Class A common stock held in family trusts totaling disclosed blocks of 149,984 and two 1,000,000-share holdings, and a large block of Class A shares shown as underlying Class B conversion.

Positive

• Transactions were reported promptly on a Form 4, improving transparency for shareholders.
• Sale conducted under a 10b5-1 trading plan, which provides an affirmative defense under Rule 10b5-1.

Negative

• Direct beneficial ownership decreased by 232,500 Class A shares as a result of the reported sale.
• Substantial indirect holdings remain in family trusts, which can concentrate voting power and economic exposure.

Insights

Financial Analyst

TL;DR: Routine insider transactions under a 10b5-1 plan, combining conversion and immediate sale, produce modest change to direct holdings.

The Form 4 documents same-day activity where the reporting person converted or otherwise acquired 232,500 Class A shares and sold 232,500 shares the same day under a previously adopted 10b5-1 plan. The sale prices are disclosed as a range ($18.35–$18.955) with a reference per-share figure of $18.66 on the form. These transactions reduced the reporting person's reported direct beneficial ownership to 377,074 Class A shares while leaving significant indirect holdings in family trusts. For investors, this appears procedural and consistent with plan-based liquidity rather than an operational signal about Confluent's fundamentals.

Corporate Governance Expert

TL;DR: Compliance and transparency are evident: transactions were reported and tied to a 10b5-1 plan; large indirect holdings remain in trusts.

The Form 4 properly flags the sale as pursuant to a 10b5-1 trading plan adopted August 15, 2024, which supports the affirmative defense to insider trading claims. The filing discloses both direct and indirect holdings, including conversion mechanics between Class B and Class A shares, and identifies trusts that hold material blocks of common stock. From a governance perspective, timely reporting and clear footnotes on conversion and trust ownership improve transparency for shareholders monitoring insider activity.

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)
09/04/2025

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	09/04/2025		C		232,500	A	(1)	609,574	D
Class A Common Stock	09/04/2025		S		232,500(2)	D	$18.66(3)	377,074	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)	09/04/2025		C			232,500	(1)	(1)	Class A Common Stock	232,500	$0	14,715,000	D
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	149,984		149,984	I	See footnote(4)
Class B Common Stock	(1)							(1)	(1)	Class A Common Stock	1,000,000		1,000,000	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)

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 $18.35 to $18.955. 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 are held by The Edward J. Kreps and Jamaica H. Kreps 2018 Revocable Trust.

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

6. 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	09/08/2025
	** 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 did Confluent CEO Edward J. Kreps report on Form 4 for CFLT?

The filing reports that Edward J. Kreps acquired 232,500 Class A shares and sold 232,500 Class A shares on 09/04/2025; the sale was made under a 10b5-1 plan.

At what prices were the CFLT shares sold?

The shares were sold at prices ranging from $18.35 to $18.955; the Form 4 lists a per-share reference of $18.66.

How many CFLT shares does the reporting person own after the transactions?

The Form 4 shows the reporting person beneficially owned 377,074 Class A shares directly following the reported transactions, plus additional indirect holdings via trusts.

Were the sales part of a pre-established trading plan for CFLT insider?

Yes. The filing states the shares sold were pursuant to a 10b5-1 trading plan adopted August 15, 2024.

Does the Form 4 disclose indirect holdings or conversion terms for CFLT shares?

Yes. Footnotes disclose that Class B shares convert into Class A shares under the charter and identify family trusts holding blocks of 149,984 and 1,000,000 shares (two separate entries).