ROTTENBERG ERIKA 4

What Happened Erika Rottenberg, a director of Twilio Inc. (TWLO), sold 1,500 shares in an open-market transaction on May 4, 2026. The reported weighted-average sale price was $185.32 per share (range $185.235–$185.49), for total proceeds of $277,974. This was a sale (not a purchase or award), and the trade was executed under a pre-established 10b5‑1 trading plan.

Key Details

• Transaction date: 2026-05-04 (reported on Form 4 filed 2026-05-06) — filing appears timely.
• Transaction type/code: Open-market sale (S).
• Price: Weighted average $185.32; individual trade prices ranged $185.235 to $185.49.
• Proceeds: $277,974 (1,500 shares × weighted average price).
• Holdings after transaction: Not disclosed in this filing; shares are held by The Erika Rottenberg Revocable Trust (per footnote).
• Footnotes: F1 — sale executed under a 10b5‑1 plan dated 12/10/2025; F2 — weighted-average price with range and offer to provide per-price details on request; F3 — shares are held in a revocable trust.

Context Sales under a 10b5‑1 plan are pre-arranged and commonly used by insiders to sell shares on a set schedule; they do not necessarily signal the insider’s current view of the company. For retail investors, purchases tend to be more informative about insider sentiment than routine sales.