Narkhede Neha 4

What Happened
Neha Narkhede, a director of Confluent, reported dispositions to the issuer on March 17, 2026, related to Confluent’s merger with IBM. The Form 4 shows six dispositions totaling 2,120,935 shares (20,247; 1,787; 8,302; 1,083,729; 377,502; 629,368). The filing lists per-share price as N/A, but footnotes to the Form 4 state that under the Merger Agreement each Confluent share (Class A and Class B) and RSUs were converted into the right to receive $31.00 per share in cash, implying aggregate gross proceeds of about $65,748,985 (2,120,935 × $31.00). Several of the reported items are derivative cancellations (RSUs/options/Class B conversion) rather than open-market sales.

Key Details

• Transaction date(s): March 17, 2026; Form 4 filed March 19, 2026 (filed within the required 2-business-day window).
• Per-share consideration: $31.00 per footnotes to the filing (cash merger consideration).
• Total shares disposed: 2,120,935 shares; approximate gross proceeds: $65,748,985 (pre-tax).
• Shares owned after transaction: not specified in the summary data provided — see the Form 4 for post-transaction holdings.
• Notable footnotes: F1–F5 explain the IBM Merger Agreement cash-out; RSUs and options were canceled for cash consideration, Class B shares converted at the per-share price, and options were cashed out for the excess of the per-share price over exercise price.
• Filing timeliness: appears timely (filed two days after the reported transactions).

Context
These were corporate merger-related cash dispositions (shares and equity awards canceled and converted into $31.00 cash per share) rather than voluntary open-market sales. Derivative items represent RSUs/options and Class B conversions paid in cash under the merger terms; for options the payout equals (per-share price − exercise price) × number of option shares. Such merger cash-outs are routine outcomes of an acquisition and do not, by themselves, indicate trading sentiment.