Mac Ban Ryan Norris 4

What Happened
Ryan Norris, Chief Revenue Officer of Confluent, reported two open-market stock sales: 1,655 shares on Feb 13, 2026 at $30.54 ($50,544) and 2,113 shares on Feb 18, 2026 at $30.61 ($64,679), totaling roughly $115,223 in proceeds. These were sales (not purchases) and were executed pursuant to a pre-established 10b5‑1 trading plan.

Key Details

• Transaction dates and prices:
  • Feb 13, 2026 — sold 1,655 shares @ $30.54, proceeds $50,544.
  • Feb 18, 2026 — sold 2,113 shares @ $30.61, proceeds $64,679.
• Total shares sold: 3,768; total proceeds: ≈ $115,223.
• Footnotes:
  • Sales were made under a 10b5‑1 plan dated August 22, 2025 (pre-arranged trading program).
  • Filing notes inclusion of 1,398 shares purchased through Confluent’s employee stock purchase plan (ESPP) on Feb 13, 2026.
• Filing/timeliness: Form 4 was filed on Feb 18, 2026. Given the Feb 13 trade date and the Feb 16 federal holiday (Presidents' Day), the filing was made within the two-business-day window and appears timely.
• Shares owned after transaction: Not specified in the provided filing summary.

Context
Sales under 10b5‑1 plans are pre-scheduled and commonly viewed as routine portfolio management rather than a direct signal about the insider’s view of the company. The ESPP purchase noted in the filing shows some concurrent employee buying, but purchases are generally considered more informative than routine sales. This report is factual disclosure of trades; it does not explain the insider’s motivations.