ROTTENBERG ERIKA 4

What Happened
Erika Rottenberg, a director of Twilio Inc. (TWLO), was granted 686 Restricted Stock Units (RSUs) that vested immediately on March 15, 2026. The filing shows the 686 RSUs reported as an award (acquired) and then as a gift (disposed by Rottenberg and acquired by her trust). The reported price per share is $0.00 (RSUs are reported as contingent awards), so no cash exchange is shown in the filing.

Key Details

• Transaction date: 2026-03-15 (reported on Form 4 filed 2026-03-17).
• Reported transactions: Grant/Award (A) — 686 RSUs acquired @ $0.00; Gift (G) — 686 shares disposed by Rottenberg @ $0.00; Gift (G) — 686 shares acquired by the trust @ $0.00.
• Shares/ownership after transaction: filing indicates the shares are held by The Erika Rottenberg Revocable Trust (footnote F5); total post-transaction holdings not specified in the filing.
• Notable footnotes: F1 — RSUs represent the right to one share and vested immediately; F2 — includes RSUs deferred by the reporting person; F3/F4 — denote contribution to and receipt by the reporting person's trust; F5 — shares held by her revocable trust.
• Timeliness: Filed two days after the transaction date (not indicated as late).

Context
This was an award of RSUs that vested and were then transferred to a trust (a gift/contribution), not an open-market purchase or sale. Gifts and internal transfers to trusts are typically estate-planning or administrative actions and do not directly signal the insider’s view of the company’s short-term stock prospects.