Phan Kong 4

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.