Viggiano Aidan 4

What Happened
Aidan Viggiano, Chief Financial Officer of Twilio (TWLO), reported open‑market sales of 8,231 shares on March 31, 2026, generating roughly $1,010,654 in proceeds. The transactions reported were sales (S) of: 5,692 shares at a reported weighted price of $122.45 ($697,013), 1,938 shares at $123.30 ($238,958), 501 shares at $124.11 ($62,178), and 100 shares at $125.05 ($12,505). According to the filing, a substantial portion of these shares were sold to satisfy statutory tax withholding on vested RSUs rather than as a discretionary cash sale.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (filed timely).
• Prices/ranges: first lot weighted avg $122.45 (range $121.905–$122.875); second weighted avg $123.30 (range $122.905–$123.84); third weighted avg $124.11 (range $124.00–$124.40); fourth at $125.05.
• Total shares sold: 8,231; approximate proceeds: $1,010,654.
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Notable footnotes: F1 indicates these sales were sell‑to‑cover to satisfy tax withholding on RSU vesting (not discretionary). F3 confirms some shares were RSUs. F2/F4/F5 note weighted average prices and price ranges for multiple executions.

Context
Sell‑to‑cover transactions are routine: when RSUs vest the company often withholds shares to cover taxes, which results in reported sales by the insider but does not necessarily indicate a change in the insider’s view of the company. For retail investors, purchases by insiders can be a stronger signal of confidence than these kinds of mandatory withholding sales.