Uncas GP LLC 4

What Happened
Andrew J. Stafman, a director of Twilio (TWLO) and a partner at Sachem Head, reported an open-market sale of 675,000 shares on 2026-05-12 at $193.54 per share, generating proceeds of approximately $130,639,500. This was a sale (S code) rather than a purchase—sales are often routine portfolio or liquidity moves and do not by themselves signal insider confidence or lack thereof.

Key Details

• Transaction date: 2026-05-12; Price: $193.54; Shares sold: 675,000; Gross proceeds ≈ $130,639,500.
• Filing date: Form 4 filed 2026-05-12 (same day as the transaction). No late filing indicated in the provided data.
• Shares owned after transaction: Not specified in the supplied filing details.
• Notable footnotes: Filing is joint with Sachem Head Capital affiliates and Scott D. Ferguson (F1–F3). Footnotes state Stafman is a partner at Sachem Head and that, pursuant to an arrangement, he granted all rights to the subject securities to Sachem Head for no consideration (F4–F5). The reporting persons disclaim beneficial ownership except for any pecuniary interest.
• No 10b5-1 plan, tax-withholding, or other sale-plan disclosure was noted in the provided summary.

Context
This is a straightforward open-market sale by a director who is also affiliated with an investment firm (Sachem Head). Institutional and affiliated-party filings like this often include joint-reporting and beneficial-ownership disclaimers; they reflect ownership/arrangement structure more than the insider’s personal trading intent.