TWILIO INC — Director's Dealing 2019

Dec 23, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TWILIO INC (TWLO)
CIK: 0001447669
Period of Report: 2019-12-20

Reporting Person: Smith Karyn (General Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-20	Class A Common Stock	C	12815	—	Acquired	52414	Direct
2019-12-20	Class A Common Stock	M	1229	$31.96	Acquired	53643	Direct
2019-12-20	Class A Common Stock	M	1283	$33.01	Acquired	54926	Direct
2019-12-20	Class A Common Stock	S	14411	$100.3915	Disposed	40515	Direct
2019-12-20	Class A Common Stock	S	916	$100.8243	Disposed	39599	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-12-20	Employee Stock Option (right to buy)	$4.73	M	11769	Disposed	2024-10-28	Class B Common Stock (11769.0)	Direct
2019-12-20	Class B Common Stock	$	M	11769	Acquired		Class A Common Stock (11769.0)	Direct
2019-12-20	Employee Stock Option (right to buy)	$10.09	M	1046	Disposed	2025-12-30	Class B Common Stock (1046.0)	Direct
2019-12-20	Class B Common Stock	$	M	1046	Acquired		Class A Common Stock (1046.0)	Direct
2019-12-20	Employee Stock Option (right to buy)	$31.96	M	1229	Disposed	2027-02-09	Class A Common Stock (1229.0)	Direct
2019-12-20	Employee Stock Option (right to buy)	$33.01	M	1283	Disposed	2028-02-19	Class A Common Stock (1283.0)	Direct
2019-12-20	Class B Common Stock	$	C	12815	Disposed		Class A Common Stock (12815.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	2821	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (1172.0)	1172	Indirect
Employee Stock Option (right to buy)	$111.32	2029-01-30	Class A Common Stock (27060.0)	27060	Direct

Footnotes

F1: A portion of these shares represent Restricted Stock Units ("RSUs"). Each RSU represents a contingent right to receive one share of Issuer's Class A common stock.

F2: The sales reported were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person.

F3: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.76 to $100.75 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F4: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.77 to $100.88 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F5: The Karyn Smith Revocable Trust U/A/D 9/15/06 Amended 12/23/11, Karyn Smith Trustee.

F6: This stock option grant became fully vested on September 2, 2018.

F7: Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.

F8: A portion of these shares represent RSUs. Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock.

F9: The shares subject to this option vest in 48 equal monthly installments, with the first installment on February 15, 2016, subject to the Reporting Person's continuous service to the Issuer through each vesting date. The option is early exercisable by the Reporting Person.

F10: This option shall vest as follows: 1/4th of the option shall vest on January 1, 2018 and 1/48th of the option shall vest monthly thereafter, subject to the Reporting Person's continued service to the Issuer through each vesting date.

F11: The shares subject to this option vest in 48 equal monthly installments, with the first installment on March 15, 2018, subject to the Reporting Person's continuous service to the Issuer through each vesting date.

F12: The stock option shall vest as follows: 33% of the stock option shall vest on December 31, 2020, 33% of the stock option shall vest on December 31, 2021 and 34% of the stock option shall vest on December 31, 2022, subject to the Reporting Person's continued service to the Issuer through each vesting date.