Uncas GP LLC 4

What Happened

• Andrew J. Stafman, a director of Twilio (TWLO) and a partner at Sachem Head, was granted 399 Restricted Stock Units (RSUs) on 2026-06-15 (transaction code A — award/grant). The grant price/consideration is reported as $0.00 and the RSUs vested immediately.
• Per the filing, Stafman granted all right, title and interest in the subject securities to Sachem Head for no consideration, so the economic/beneficial ownership was transferred to the Sachem Head entities rather than retained personally.

Key Details

• Transaction date: 2026-06-15; filing date: 2026-06-17 (appears timely).
• Grant amount: 399 RSUs reported at $0.00; RSUs vested immediately (Footnote F1).
• Related totals in the filing: the Form 4 references 13,891 RSUs in total (including 3,846 deferred RSUs) and notes Sachem Head funds held 2,295,000 Class A shares prior to this grant (Footnotes F2, F6).
• Assignment and filing structure: Stafman assigned the awarded securities to Sachem Head for no consideration (F5). The Form 4 is a joint filing involving Sachem Head-related entities and Scott D. Ferguson; those entities disclaim beneficial ownership except to the extent of any pecuniary interest (F3–F4, F7–F8).

Context

• RSUs are a grant that convert into shares (one RSU = right to one share). Because these RSUs vested immediately and were assigned to Sachem Head, this is effectively an institutional receipt rather than a personal buy or sell by the director.
• Awards (A) are typically compensation or part of governance arrangements and do not directly signal a director's market sentiment in the same way as open-market purchases or sales.