Narkhede Neha 4

What Happened

• Neha Narkhede, a director of Confluent, converted/exercised derivative securities to acquire 80,000 shares and sold 80,000 shares in an open-market transaction on Feb 13, 2026. The sale generated approximately $2,447,200 (average reported price ~$30.59). The filing shows conversion/exercise (derivative codes C and M) and an immediate sale (S) of the same 80,000 shares.

Key Details

• Transaction date: February 13, 2026.
• Sale: 80,000 shares disposed in open market at reported average ~$30.59; total proceeds ≈ $2,447,200. Footnote indicates sales ranged $30.53–$30.64.
• Derivative activity: Conversion/exercise entries (codes C and M) for 80,000 shares indicate derivatives were converted/exercised to produce the shares sold.
• Plan/authorization: Shares sold pursuant to a 10b5-1 trading plan adopted June 10, 2025 (footnote F2).
• Vesting: Shares/derivatives were fully vested (footnote F4).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Form 4 filed Feb 18, 2026 — one business day after the typical 2-business-day Form 4 deadline (appears late).

Context

• This was a sale, which is commonly routine for insiders and does not by itself indicate company outlook. The filing shows a same-day conversion/exercise followed by a sale — effectively a cashless or immediate-sale of shares obtained via derivatives. Footnote F1 explains Class B common stock may convert into Class A upon sale, which can be the mechanism used here. The sale was executed under a pre-established 10b5-1 plan, which typically schedules trades in advance.