Phan Kong 4

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

AI-generated summary of this filing

Updated Mar 19, 2026

Confluent (CFLT) CAO Phan Kong Sells 278,562 Shares

What Happened

Phan Kong, Chief Accounting Officer of Confluent, reported dispositions to the issuer on 2026-03-17 totaling 278,562 shares (149,758 + 96,078 + 11,103 (derivative) + 21,623 (derivative)). Under the merger agreement with IBM, each Confluent Class A share was converted into $31.00 cash, so the aggregate cash consideration for these disposed shares is approximately $8,635,422, subject to applicable withholding taxes. The filing was made on 2026-03-19.

Key Details

Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (timely within reporting window).
Per-share merger consideration: $31.00 in cash (footnote F1); total value ≈ $8,635,422.
Dispositions include two derivative items (11,103 and 21,623 shares) tied to equity awards/options.
RSUs note (footnote F2): outstanding RSUs were assumed by IBM and converted into restricted stock units for 12,031 shares of IBM common stock.
Options note (footnote F3): outstanding options were canceled and converted into a cash payment equal to (shares covered) × (Per Share Price − option exercise price), subject to withholding.
Shares owned after the transactions: not specified in the provided filing.

Context

These were not open-market sales but merger-related cancellations/conversions: Class A shares were canceled for cash consideration and certain RSUs/options were either converted to IBM RSUs or cashed out per the Merger Agreement. For options, the cash payment reflects the excess of the $31 merger price over the option exercise price (a common treatment in acquisitions). This filing documents the transaction settlement rather than a discretionary market sale.

Form 4Exit

Period: 2026-03-17

Chief Accounting Officer

Transactions

Disposition to Issuer
Class A Common Stock
[F1]
2026-03-17−149,758→ 0 total
Disposition to Issuer
Restricted Stock Units
[F2]
2026-03-17−96,078→ 0 total
Disposition to Issuer
Stock Option (Right to Buy)
[F3]
2026-03-17−11,103→ 0 total
Exercise: $4.71Exp: 2030-05-14→ Class A Common Stock (11,103 underlying)
Disposition to Issuer
Stock Option (Right to Buy)
[F3]
2026-03-17−21,623→ 0 total
Exercise: $15.68Exp: 2031-03-18→ Class A Common Stock (21,623 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 12,031 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