Henry Alyssa 4

What Happened

• Henry Alyssa, a director of Confluent, had dispositions to the issuer on 2026-03-17 that resulted in 216,049 total shares/derivative interests being canceled and converted to cash under the merger agreement with IBM.
• Breakdown: 20,247 shares of common stock and 8,302 RSU shares (total 28,549 shares) were converted at the merger price of $31.00 per share, yielding $885,019 in cash. An additional 187,500-option equivalent was canceled (derivative) and converted to a cash payment based on the spread between the $31.00 per-share merger price and the option exercise price (option cash value not disclosed in the filing).
• These were dispositions to the issuer under the Merger Agreement (not open-market sales).

Key Details

• Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (filed within standard Form 4 timing).
• Per-share merger consideration: $31.00 (per Merger Agreement, F1).
• Shares disposed: 20,247 (common), 8,302 (RSUs), 187,500 (options/derivative) — total 216,049.
• Known cash received: $885,019 for common + RSUs; option cash = (31.00 − option strike) × 187,500 (strike not provided, so option payout undisclosed).
• Transaction code: D = disposition to issuer (cancellation / conversion under merger). RSUs and options canceled for cash per footnotes F2 and F3.
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Filing timeliness: appears timely (filed two days after the transaction).

Context

• These transactions are merger-related cash-outs under the Agreement and Plan of Merger with IBM (signed Dec 7, 2025). RSUs were converted to $31 × shares; options were canceled for a cash payment equal to the spread above the option strike.
• Because this is a contractual conversion tied to the merger (not an open-market sale), it generally reflects transaction mechanics rather than an insider signaling buy/sell sentiment.