UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01 Regulation FD Disclosure.
Results of Operational Review of Segment Business
On March 5, 2024, Twilio Inc. (the “Company”) issued a press release announcing the results of the operational review of its Segment business and provided financial targets for fiscal years 2024 and 2025. The Company also affirmed the earnings guidance for the first quarter ending March 31, 2024 that was provided by the Company on February 14, 2024. For more information about this guidance, refer to the press release, included as an exhibit to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 14, 2024.
A copy of the press release issued by the Company on March 5, 2024 is furnished herewith as Exhibit 99.1. The information furnished under this Item 7.01 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”) or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 8.01 Other Events.
Increased Repurchase Program Authorization
On March 4, 2024, the board of directors of the Company authorized an additional share repurchase program (the “Share Repurchase Program”) of $2 billion, such that the Company may repurchase up to approximately $2.2 billion of the Company’s Class A common stock, inclusive of the Share Repurchase Program and the approximately $200 million remaining available under the prior authorization.
Under the Share Repurchase Program, the Company may purchase shares of the Company’s Class A common stock from time to time through open market transactions, privately negotiated transactions, and other means in compliance with applicable securities laws, including through Rule 10b5-1 plans. The Share Repurchase Program is set to expire on December 31, 2024. The timing, manner, price and amount of any repurchases are determined by the Company at its discretion and depend on a variety of factors, including legal requirements, price and economic market conditions.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
| Exhibit No. | Exhibit Description | |
| 99.1 | Press release issued by Twilio Inc. dated March 5, 2024 | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TWILIO INC. | ||||||
| March 5, 2024 | By: | /s/ Aidan Viggiano | ||||
| Name: | Aidan Viggiano | |||||
| Title: | Chief Financial Officer | |||||