Twilio Inc. Reports Board Changes and Executive Compensation Updates

Ticker: TWLO · Form: 8-K · Filed: 2024-10-04T00:00:00.000Z

Sentiment: neutral

Topics: governance, executive-compensation, board-changes

Related Tickers: TWLO

TL;DR

Twilio's board is shuffling, and exec pay is changing. Keep an eye on this.

AI Summary

Twilio Inc. filed an 8-K on September 30, 2024, reporting changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory plans for key executives. Specific details regarding the individuals involved and the financial implications of these compensation changes were provided within the document.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation can introduce uncertainty, but the filing itself doesn't indicate immediate financial distress.

Key Numbers

Key Players & Entities

FAQ

Who departed from Twilio's board or officer positions?

The filing indicates the departure of certain officers and directors, with specific names and roles detailed within the document's sections on director and officer changes.

What are the key changes in executive compensation arrangements?

The 8-K outlines updates to the compensatory arrangements for certain officers, with specific details provided in the relevant sections of the filing.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing was on September 30, 2024.

What is Twilio Inc.'s principal executive office address?

Twilio Inc.'s principal executive office is located at 101 Spear Street, Fifth Floor, San Francisco, California 94105.

What is the SIC code for Twilio Inc.?

The Standard Industrial Classification (SIC) code for Twilio Inc. is 7372, which falls under SERVICES-PREPACKAGED SOFTWARE.

From the Filing

0001447669-24-000159.txt : 20241004 0001447669-24-000159.hdr.sgml : 20241004 20241004161059 ACCESSION NUMBER: 0001447669-24-000159 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20240930 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241004 DATE AS OF CHANGE: 20241004 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: 241355025 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 twlo-20240930.htm 8-K twlo-20240930 0001447669 false 0001447669 2024-09-30 2024-09-30 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): September 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) (Zip Code) ( 415 ) 390-2337 (Registrant’s telephone number, including area code) 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 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Company Severance Plans On September 30, 2024, the Compensation and Talent Management Committee (the “Committee”) of the Board of Directors (the “Board”) of Twilio Inc. (the “Company”) amended the Company’s Amended Chief Executive Officer Severance Plan (the “CEO Severance Plan”) and the Company’s Senior Executive Severance Plan covering the non-C

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