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Twilio Inc. (TWLO) director’s trust sells 3,500 shares under 10b5-1 plan

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Twilio Inc. director Erika Rottenberg, through The Erika Rottenberg Revocable Trust, reported six open-market sales of 3,500 shares of Class A Common Stock on August 10, 2026. The shares were sold at weighted average prices ranging roughly from $249.00 to $255.40 per share under a Rule 10b5-1 trading plan dated December 10, 2025. All reported holdings are indirect, held by the trust.

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Insider ROTTENBERG ERIKA
Role Director
Sold 3,500 shs ($881K)
Type Security Shares Price Value
Sale Class A Common Stock F1, F2, F3 487 $249.1652 $121K
Sale Class A Common Stock F1, F4, F3 357 $250.8344 $90K
Sale Class A Common Stock F1, F5, F3 1,504 $251.7374 $379K
Sale Class A Common Stock F1, F6, F3 628 $252.5507 $159K
Sale Class A Common Stock F1, F7, F3 190 $253.5604 $48K
Sale Class A Common Stock F1, F8, F3 334 $254.7775 $85K
Holdings After Transaction: Class A Common Stock — 27,893 shares (Indirect, By Trust)
Footnotes (8)
  1. F1. The sales reported were executed under the Reporting Person's 10b5-1 trading plan, dated as of 12/10/2025.
  2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $249.00 to $249.99 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  3. F3. Shares are held by The Erika Rottenberg Revocable Trust.
  4. F4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $250.18 to $251.10 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  5. F5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $251.29 to $252.16 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  6. F6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $252.30 to $252.79 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  7. F7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $253.36 to $253.88 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  8. F8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $254.51 to $255.40 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Shares sold 3,500 shares Total Class A Common Stock sold on August 10, 2026 across six trades
Sample weighted average price $249.1652 per share Weighted average sale price for 487-share tranche
Highest reported weighted average price $254.7775 per share Weighted average sale price for 334-share tranche
Sale transactions count 6 transactions Number of reported open-market or private sales on August 10, 2026
10b5-1 plan date 12/10/2025 Date of the Rule 10b5-1 trading plan governing these sales
Rule 10b5-1 trading plan regulatory
"The sales reported were executed under the Reporting Person's 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The reported price in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
revocable trust financial
"Shares are held by The Erika Rottenberg Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
indirect ownership financial
"direct_or_indirect": "I", "nature_of_ownership": "By Trust""

FAQ

What insider transaction did TWLO director Erika Rottenberg report on this Form 4?
Erika Rottenberg reported six open-market sales totaling 3,500 shares of Twilio Inc. Class A Common Stock on August 10, 2026, executed indirectly through The Erika Rottenberg Revocable Trust.

At what prices were the 3,500 TWLO shares sold by the Erika Rottenberg trust?
The 3,500 shares were sold at weighted average prices, with transaction averages such as $249.1652 and $254.7775 per share, across price ranges from $249.00 to $255.40.

Were Erika Rottenberg’s TWLO share sales made under a Rule 10b5-1 plan?
Yes. A footnote states the sales were executed under the reporting person’s Rule 10b5-1 trading plan dated December 10, 2025, indicating they followed a pre-arranged trading schedule.

How many TWLO shares in total did Erika Rottenberg sell in this transaction series?
Across six transactions on August 10, 2026, the reporting person’s trust sold 3,500 shares of Twilio Inc. Class A Common Stock, according to the Form 4 transaction summary data.

Are Erika Rottenberg’s reported TWLO holdings direct or indirect?
The transactions involve indirect ownership. Footnotes explain the shares are held by The Erika Rottenberg Revocable Trust, and each sale is coded with ownership nature "By Trust."

How many separate sale transactions of TWLO stock did the Form 4 report?
The filing lists six separate sale transactions of Class A Common Stock on August 10, 2026, each with its own weighted average sale price and associated price range disclosure.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
ROTTENBERG ERIKA
(Last)(First)(Middle)
101 SPEAR STREET, FIFTH FLOOR
(Street)
SAN FRANCISCO CALIFORNIA 94105
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
TWILIO INC [ TWLO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/10/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock08/10/2026S(1)487D$249.1652(2)30,906IBy Trust(3)
Class A Common Stock08/10/2026S(1)357D$250.8344(4)30,549IBy Trust(3)
Class A Common Stock08/10/2026S(1)1,504D$251.7374(5)29,045IBy Trust(3)
Class A Common Stock08/10/2026S(1)628D$252.5507(6)28,417IBy Trust(3)
Class A Common Stock08/10/2026S(1)190D$253.5604(7)28,227IBy Trust(3)
Class A Common Stock08/10/2026S(1)334D$254.7775(8)27,893IBy Trust(3)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The sales reported were executed under the Reporting Person's 10b5-1 trading plan, dated as of 12/10/2025.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $249.00 to $249.99 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. Shares are held by The Erika Rottenberg Revocable Trust.
4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $250.18 to $251.10 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $251.29 to $252.16 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $252.30 to $252.79 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $253.36 to $253.88 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $254.51 to $255.40 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Remarks:
/s/ Evan White as attorney-in-fact for Reporting Person08/12/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR