Uncas GP LLC 4

What Happened
Andrew J. Stafman, a director of Twilio Inc., reported an open‑market sale of 1,000,000 shares on May 27, 2026 at $184.14 per share, for total proceeds of $184,140,000. The transaction is reported as a sale (code S).

Key Details

• Transaction date and price: May 27, 2026 — 1,000,000 shares sold at $184.14 each.
• Transaction value: $184,140,000 (gross proceeds).
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Filing timeliness: Form 4 lists the same report and transaction date (May 27, 2026); no late filing indicated in the excerpt.
• Notable footnotes: Filing is joint among Andrew J. Stafman, Sachem Head entities, and affiliates. Footnotes state Sachem Head (an investment adviser and affiliated funds) and related entities may be deemed beneficial owners of the reported securities; Stafman reportedly granted all rights in the subject securities to Sachem Head for no consideration. Each reporting person disclaims beneficial ownership except for any pecuniary interest.

Context

• This was an outright sale (not an exercise, award, or gift). Sales by directors can be routine liquidity events and do not by themselves indicate company outlook.
• The joint filing and footnotes indicate institutional/affiliate involvement (Sachem Head and related entities), so the reported sale may reflect positions or transactions by the investment adviser/funds rather than only the individual’s personal holdings.