TWLO Form 4: Erika Rottenberg Immediate Vesting of 778 RSUs Added to Trust

Rhea-AI Filing Summary

Erika Rottenberg, a director of Twilio Inc. (TWLO), received 778 Restricted Stock Units that vested immediately on 09/15/2025. Each RSU represents the contingent right to one share of Class A common stock. The filing shows three related entries for 778 shares: one 778-share grant to the reporting person, a 778-share contribution to the reporting persons revocable trust, and 778 shares received by that trust. After the transactions the reporting person directly beneficially owned 778 shares and indirectly beneficially owned 34,970 shares through The Erika Rottenberg Revocable Trust. The Form 4 was signed by an attorney-in-fact on 09/17/2025.

Positive

• Immediate vesting of 778 RSUs shows the award became fully effective on 09/15/2025
• Clear disclosure of transfers into The Erika Rottenberg Revocable Trust and resulting indirect beneficial ownership of 34,970 shares
• No cash sale reported, indicating the transaction was not a disposition for proceeds

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider equity grant vested and was moved into a personal trust, modest change to reported holdings.

The Form 4 documents an immediate vesting of 778 RSUs for a director, with the reporting person retaining direct ownership of 778 shares and holding 34,970 shares indirectly via a revocable trust. The transaction codes indicate a grant and subsequent transfer into a trust structure. This is a standard equity compensation and estate-planning pattern rather than a sale or purchase on the open market. No cash consideration or derivative exercises are reported.

Corporate Governance Expert

TL;DR: Governance action reflects compensation and trust planning; disclosure is complete for the reported transactions.

The filing clearly identifies the reporting person as a director and describes the nature of the RSUs, immediate vesting, and that shares are held by The Erika Rottenberg Revocable Trust. The Form 4 includes appropriate transaction codes and the signature by attorney-in-fact. There are no indications of unusual governance or related-party issues in the disclosed entries.

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
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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^*

ROTTENBERG ERIKA

(Last) (First) (Middle)

101 SPEAR STREET, FIFTH FLOOR

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TWILIO INC [ TWLO ]

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)
09/15/2025

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	09/15/2025		A		778(1)	A	$0	778	D
Class A Common Stock	09/15/2025		G(2)		778	D	$0	0	D
Class A Common Stock	09/15/2025		G(3)		778	A	$0	34,970	I	By Trust(4)

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. The shares reported in this transaction represent Restricted Stock Units ("RSUs"). Each RSU represents the contingent right to receive one share of the Issuer's Class A common stock. The RSUs vested immediately on the date of grant.

2. Represents shares that were contributed by the Reporting Person to the Reporting Person's trust.

3. Represents the shares received by the Reporting Person's trust.

4. Shares are held by The Erika Rottenberg Revocable Trust.

Remarks:

	/s/ Juliana Chen as attorney-in-fact for Reporting Person	09/17/2025
	** 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 Erika Rottenberg report on Form 4 for TWLO?

The Form 4 reports that Erika Rottenberg received 778 Restricted Stock Units that vested immediately on 09/15/2025 and that related shares were contributed to and held by The Erika Rottenberg Revocable Trust.

How many TWLO shares does Erika Rottenberg beneficially own after the reported transactions?

Following the transactions the filing shows 778 shares directly beneficially owned and 34,970 shares indirectly beneficially owned through the revocable trust.

Were any proceeds or prices reported for the transactions?

No cash proceeds or purchase price are reported; the RSUs are listed with a price of $0 consistent with restricted stock unit grants.

When did the RSUs vest and when was the Form 4 signed?

The RSUs vested on 09/15/2025 and the Form 4 was signed by an attorney-in-fact on 09/17/2025.

Who holds the indirectly owned shares reported by Erika Rottenberg?

The indirectly owned shares are held by The Erika Rottenberg Revocable Trust, as disclosed in the filing.