Twilio Inc. Files 8-K: Executive Changes & Agreements

Ticker: TWLO · Form: 8-K · Filed: 2024-04-01T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, executive-changes, material-agreement

Related Tickers: TWLO

TL;DR

Twilio's 8-K drops: exec shakeup, new deals, and financial updates filed March 30.

AI Summary

Twilio Inc. filed an 8-K on April 1, 2024, reporting on several key events as of March 30, 2024. These include entering into a material definitive agreement, the departure and election of directors and officers, and compensatory arrangements for certain officers. The filing also covers Regulation FD disclosures and financial statements.

Why It Matters

This filing signals potential shifts in Twilio's corporate governance and executive team, which could impact strategic direction and operational execution.

Risk Assessment

Risk Level: medium — Changes in directors and officers, along with material definitive agreements, can introduce uncertainty and potential strategic shifts.

Key Players & Entities

FAQ

What specific material definitive agreement did Twilio Inc. enter into?

The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.

Who are the directors or officers that have departed or been elected?

The filing mentions the departure of directors or certain officers and the election of directors and appointment of certain officers, but their names are not specified in this excerpt.

What is the nature of the compensatory arrangements for certain officers?

The filing notes that there are compensatory arrangements for certain officers, but the details of these arrangements are not disclosed in the provided text.

What is the significance of the Regulation FD Disclosure mentioned?

Regulation FD (Fair Disclosure) ensures that material non-public information is disclosed to all investors simultaneously, suggesting that such disclosures may be part of this filing.

What financial statements and exhibits are included with this 8-K filing?

The filing lists 'Financial Statements and Exhibits' as an item information, indicating that these documents are part of the submission, though not detailed in the excerpt.

From the Filing

0001193125-24-082747.txt : 20240401 0001193125-24-082747.hdr.sgml : 20240401 20240401083030 ACCESSION NUMBER: 0001193125-24-082747 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240330 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240401 DATE AS OF CHANGE: 20240401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TWILIO INC CENTRAL INDEX KEY: 0001447669 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 262574840 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37806 FILM NUMBER: 24805718 BUSINESS ADDRESS: STREET 1: 101 SPEAR STREET STREET 2: SUITE 500 CITY: San Francisco STATE: CA ZIP: 94105 BUSINESS PHONE: 415-390-2337 MAIL ADDRESS: STREET 1: 101 SPEAR STREET STREET 2: SUITE 500 CITY: San Francisco STATE: CA ZIP: 94105 8-K 1 d819874d8k.htm 8-K 8-K TWILIO INC false 0001447669 0001447669 2024-03-30 2024-03-30     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 30, 2024     Twilio Inc. (Exact name of registrant as specified in its charter)       Delaware   001-37806   26-2574840 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   101 Spear Street , Fifth Floor , San Francisco , California 94105 (Address of principal executive offices, including zip code) Registrant’s telephone number, including area code: (415) 390-2337 Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☒ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, par value $0.001 per share   TWLO   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 1.01 Entry into a Material Definitive Agreement. On March 30, 2024, Twilio Inc. (“we,” “us,” “our,” the “Company” and other similar terms) entered into a cooperation agreement (the “Cooperation Agreement”) with Sachem Head Capital Management LP and certain of its affiliates (collectively, “Sachem Head

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