TWLO Insider Files to Sell 7,000 Shares Worth $872K 鈥� Form 144 Details

Q: How many Twilio (TWLO) shares are being sold under this Form 144?

The filing covers the proposed sale of 7,000 common shares .

Q: What is the market value of the proposed TWLO share sale?

At the time of filing, the aggregate market value is approximately $872,011 .

Q: When is the planned sale date for the 7,000 TWLO shares?

The filer lists an approximate sale date of 30 June 2025 .

Q: How significant is this sale relative to Twilio鈥檚 total shares outstanding?

The 7,000 shares represent roughly 0.005% of the 152,674,214 shares outstanding.

Q: Has the same insider sold Twilio shares recently?

Yes. The insider sold 12,056 shares on 31 Mar 2025 and 14,545 shares on 3 Apr 2025 , generating $2.49 million combined gross proceeds.

Q: Were the shares being sold acquired through open-market purchases or compensation?

All shares were obtained via restricted-stock lapses under equity compensation plans.

[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity

Filing Impact

(Low)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Form 144 highlights for Twilio Inc. (TWLO):

An affiliated holder, identified as Khozema Shipchandler, has filed to sell 7,000 common shares through Charles Schwab & Co. on or about 30 June 2025.
The proposed sale represents a market value of $872,011 versus 152.7 million shares outstanding, or roughly 0.005% of shares outstanding.
The shares were acquired via equity-compensation restricted-stock lapses on 5 June 2020 (1,956 shares) and 31 Dec 2023 (5,044 shares).
Recent insider activity: the same seller disposed of 12,056 shares on 31 Mar 2025 for $1.16 million and 14,545 shares on 3 Apr 2025 for $1.33 million.
No adverse information about Twilio鈥檚 operations is disclosed; the filer attests to possessing no non-public material adverse data.

The filing is a compliance notice rather than a corporate action and does not change Twilio鈥檚 fundamentals, but sustained insider selling can influence investor sentiment.

Positive

None.

Negative

Repeated insider selling totalling over $2.3 million in Q2 2025 could dampen investor sentiment despite limited numerical impact.
Lack of disclosed 10b5-1 plan date means shareholders cannot confirm that transactions are pre-arranged, potentially raising governance questions.

Insights

TL;DR Modest insider sale (7k shares, <0.01% float); limited direct financial impact, but follows two larger sales this quarter.

The proposed $0.87 million sale is immaterial relative to Twilio鈥檚 market cap and share count, so it should not alter valuation models. However, cumulative disposals of roughly 34,600 shares in Q2 2025 may raise questions about management鈥檚 confidence and could weigh on short-term sentiment, especially given Twilio鈥檚 ongoing strategic transition toward profitability. Volume and price levels of these trades align with routine liquidity events tied to equity compensation, so I view the disclosure as neutral from a fundamental standpoint.

TL;DR Recurrent insider selling may signal reduced insider alignment, but the size is too small to be considered materially worrisome.

While insiders are entitled to monetize stock awards, governance best practices encourage transparent trading plans to mitigate perception risk. The filer cites no 10b5-1 plan adoption date in the form, leaving investors without assurance that sales are pre-scheduled. Given cumulative Q2 sales exceeding $2.3 million, stakeholders may wish to confirm whether a formal trading plan exists. Nevertheless, because the current sale equals only 0.005% of outstanding shares, I deem the impact low and primarily reputational.

06/30/2025 - 04:10 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SUTHERLAND JOHN W.

(Last)

(First)

(Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON

28403

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Live Oak Bancshares, Inc. [ LOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Voting Common Stock	06/27/2025		M		3,000	A	$17	15,290	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$17	06/27/2025		M			3,000	⁽¹⁾	07/22/2025	Voting Common Stock	3,000	$0	0	D
Restricted Stock Units	⁽²⁾							⁽³⁾	⁽³⁾	Voting Common Stock	178		178	D
Restricted Stock Units	⁽²⁾							⁽⁴⁾	⁽⁴⁾	Voting Common Stock	632		632	D
Restricted Stock Units	⁽²⁾							⁽⁵⁾	⁽⁵⁾	Voting Common Stock	2,134		2,134	D
Restricted Stock Units	⁽²⁾							⁽⁶⁾	⁽⁶⁾	Voting Common Stock	3,505		3,505	D
Restricted Stock Units	⁽²⁾							⁽⁷⁾	⁽⁷⁾	Voting Common Stock	2,850		2,850	D

Explanation of Responses:

1. The shares subject to this option vested and became exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.

2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.

3. The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.

4. The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.

5. The RSUs vest in equal pro rata installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.

6. The RSUs vest in five equal installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.

7. The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many Twilio (TWLO) shares are being sold under this Form 144?

The filing covers the proposed sale of 7,000 common shares.

What is the market value of the proposed TWLO share sale?

At the time of filing, the aggregate market value is approximately $872,011.

When is the planned sale date for the 7,000 TWLO shares?

The filer lists an approximate sale date of 30 June 2025.

How significant is this sale relative to Twilio鈥檚 total shares outstanding?

The 7,000 shares represent roughly 0.005% of the 152,674,214 shares outstanding.

Has the same insider sold Twilio shares recently?

Yes. The insider sold 12,056 shares on 31 Mar 2025 and 14,545 shares on 3 Apr 2025, generating $2.49 million combined gross proceeds.

Were the shares being sold acquired through open-market purchases or compensation?

All shares were obtained via restricted-stock lapses under equity compensation plans.

AG真人官方

[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity

Insights

FAQ

How many Twilio (TWLO) shares are being sold under this Form 144?

What is the market value of the proposed TWLO share sale?

When is the planned sale date for the 7,000 TWLO shares?

How significant is this sale relative to Twilio鈥檚 total shares outstanding?

Has the same insider sold Twilio shares recently?

Were the shares being sold acquired through open-market purchases or compensation?

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Trending News

[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity

Insights

Securities Analyst neutral

Corporate Governance Expert neutral

FAQ

How many Twilio (TWLO) shares are being sold under this Form 144?

What is the market value of the proposed TWLO share sale?

When is the planned sale date for the 7,000 TWLO shares?

How significant is this sale relative to Twilio鈥檚 total shares outstanding?

Has the same insider sold Twilio shares recently?

Were the shares being sold acquired through open-market purchases or compensation?

NYSE:LOB

LOB Rankings

LOB Latest News

LOB Latest SEC Filings

LOB Stock Data