Volpi Michelangelo 4

What Happened

• Michelangelo Volpi, a director of Confluent, reported dispositions to the issuer on March 17, 2026: 235,041 and 155,512 shares of Class A common stock (total 390,553 shares).
• Per the Merger Agreement, each share was canceled and converted into $31.00 in cash, for aggregate consideration of approximately $12,107,143.
• These were dispositions to the issuer in connection with the Company’s merger, not open-market sales.

Key Details

• Transaction date: March 17, 2026. Form 4 filed March 19, 2026 (appears timely).
• Price/consideration: $31.00 per share under the Merger Agreement (see footnote F1).
• Total shares disposed: 390,553; total cash received: ≈ $12.11 million.
• Shares were held by the Volpi‑Cupal Family Trust; Volpi is trustee and disclaims beneficial ownership except for any pecuniary interest (footnote F2).
• Form reports “Disposition to the issuer” (code D). The filing does not state remaining post-transaction holdings.

Context

• This transaction reflects merger consideration (shares canceled for cash) rather than a voluntary market sale by the insider; such conversions are routine in M&A and do not necessarily indicate the insider’s view on the company’s prospects.
• For retail investors, merger-driven dispositions differ from open-market sales: proceeds come from the deal terms ($31.00/share) rather than market timing.