Sivaram Rohan 4

4 · Confluent, Inc. · Filed Mar 19, 2026

AI-generated summary of this filing

Updated Mar 19, 2026

Confluent (CFLT) CFO Sivaram Rohan Sells 623,784 Shares in Merger

What Happened

Sivaram Rohan, Chief Financial Officer of Confluent, reported dispositions on 2026-03-17 related to the company's merger with IBM. The Form 4 shows: 212,681 shares and 319,290 shares of Class A common stock were disposed (issuer cancellation), and 91,813 derivative shares (options) were canceled.
Under the merger agreement each share of Confluent Class A common was canceled for $31.00 per share in cash. The two common-stock dispositions (212,681 + 319,290 = 531,971 shares) correspond to cash of $531,971 × $31 = $16,491,101. The option-related payment (91,813 shares) was cancelled for cash equal to the number of option-covered shares multiplied by the excess of the $31 Per Share Price over the option exercise price (amount not specified in the filing).
RSUs were treated separately under the merger: outstanding RSUs were assumed by IBM and converted into restricted stock units for 39,985 shares of IBM common stock (per the filing).

Key Details

Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (appears timely).
Reported dispositions: 212,681 shares (common), 319,290 shares (common), 91,813 derivative (option cancellation).
Cash consideration for common shares: $31.00 per share → $16,491,101 for 531,971 common shares. Option cash payment depends on each option’s strike (not disclosed).
Footnotes: F1 = $31/share merger consideration; F2 = RSUs assumed/converted to IBM RSUs for 39,985 shares; F3 = options canceled for cash equal to (Per Share Price − option exercise price) × shares.
Shares owned after the transactions: not specified in the excerpt provided.

Context

These are merger-related dispositions (issuer cancellations and option cash-outs), not open-market sales. Such filings reflect deal consideration and option settlement mechanics rather than routine insider selling or buying.
For the option/derivative portion, the reported cash value depends on the option exercise price; the filing does not list that per-share strike, so the exact cash received for the 91,813-option portion is not shown.

Form 4Exit

Period: 2026-03-17

CHIEF FINANCIAL OFFICER

Transactions

Disposition to Issuer
Class A Common Stock
[F1]
2026-03-17−212,681→ 0 total
Disposition to Issuer
Restricted Stock Units
[F2]
2026-03-17−319,290→ 0 total
Disposition to Issuer
Stock Option (Right to Buy)
[F3]
2026-03-17−91,813→ 0 total
Exercise: $7.34Exp: 2030-10-28→ Class A Common Stock (91,813 underlying)

Footnotes (3)

[F1]Pursuant to the Agreement and Plan of Merger, dated December 7, 2025, by and among the Issuer, International Business Machines Corporation ("IBM") and Corvo Merger Sub, Inc. (the "Merger Agreement"), each share of Issuer Class A Common Stock was canceled and converted into the right to receive $31.00 per share in cash (the "Merger Consideration" or the "Per Share Price"), without interest and subject to applicable withholding taxes.
[F2]Pursuant to the Merger Agreement, each outstanding RSU was assumed by IBM and converted into restricted stock units for 39,985 shares of IBM common stock.
[F3]The shares subject to the option are fully vested and immediately exercisable. Pursuant to the Merger Agreement, the option was canceled in exchange for the right to receive an amount in cash, subject to applicable withholding taxes, equal to the product of (a) the total number of shares of Issuer common stock covered by such option immediately prior to the Effective Time (as defined in the Merger Agreement) multiplied by (b) the excess of (1) the Per Share Price over (2) the per share exercise price of such option.

Signature

/s/ Weilyn Wood, Attorney-in-Fact|2026-03-19

1 file