Sivaram Rohan 4

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.