Twilio (TWLO) director gifts shares to Shustek-Dubinsky family trust

Rhea-AI Filing Summary

Twilio Inc. director Donna Dubinsky reported compensation-related and gifting transactions in Class A common stock. She received 673 Restricted Stock Units, each representing one share, which vested immediately on the grant date. She then contributed 673 shares as a bona fide gift to the Shustek-Dubinsky Family Trust.

Following these transactions, her direct holdings in this stock class were reported as zero shares, while the trust, for which Leonard Shustek and Donna Dubinsky serve as trustees, held 21,970 shares indirectly. These gifts were not open-market purchases or sales and do not reflect trading in the public market.

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

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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^*

Dubinsky Donna

(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)
03/15/2026

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	03/15/2026		A		673(1)	A	$0	673(2)	D
Class A Common Stock	03/15/2026		G(3)		673	D	$0	0	D
Class A Common Stock	03/15/2026		G(4)		673	A	$0	21,970(2)	I	Shustek-Dubinsky Family Trust(5)

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. Includes RSUs that have been deferred by the Reporting Person.

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

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

5. Leonard Shustek & Donna Dubinsky, Trustees, Shustek-Dubinsky Family Trust Dated 8/1/04.

Remarks:

	/s/ Juliana Chen as attorney-in-fact for Reporting Person	03/17/2026
	** 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 insider transactions did Donna Dubinsky report for Twilio (TWLO)?

Donna Dubinsky reported receiving 673 Restricted Stock Units that vested immediately and then gifting 673 shares of Twilio Class A common stock to the Shustek-Dubinsky Family Trust. These moves combine a compensation award with a transfer to a family trust, not market trading.

Were Donna Dubinsky’s Twilio (TWLO) transactions open-market buys or sells?

The transactions were not open-market buys or sells. She received 673 shares through a stock unit grant at no cost, then transferred 673 shares as a bona fide gift to a family trust, so no public market purchase or sale occurred.

How many Twilio shares did Donna Dubinsky receive and gift in this Form 4?

She received 673 shares of Twilio Class A common stock via immediately vested Restricted Stock Units, then gifted 673 shares to the Shustek-Dubinsky Family Trust. The filing describes the gift as a bona fide contribution rather than a market sale or purchase.

What are Donna Dubinsky’s reported Twilio holdings after these transactions?

After the reported transactions, Donna Dubinsky held zero shares directly and 21,970 shares indirectly through the Shustek-Dubinsky Family Trust. The filing lists these as Class A common stock held by the trust where she and Leonard Shustek serve as trustees.

What does the RSU grant to Donna Dubinsky at Twilio (TWLO) represent?

The grant represents 673 Restricted Stock Units, each equal to one share of Twilio Class A common stock. According to the disclosure, the RSUs vested immediately on the grant date, effectively providing her with 673 shares of stock as part of director compensation.

Who received the gifted Twilio shares from Donna Dubinsky?

The gifted Twilio shares were contributed to the Shustek-Dubinsky Family Trust. The filing notes that the reported gift represents shares contributed by Donna Dubinsky and received by the trust, for which Leonard Shustek and Donna Dubinsky serve as trustees.