As filed with the U.S. Securities and Exchange Commission on February 26, 2025

Registration No. 333-   

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

Twilio Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   26-2574840

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

101 Spear Street, Fifth Floor

San Francisco, California 94105

(Address of Principal Executive Offices) (Zip Code)

Amended and Restated 2016 Stock Option and Incentive Plan

Amended and Restated 2016 Employee Stock Purchase Plan

(Full title of the plans)

Khozema Shipchandler

Chief Executive Officer

Twilio Inc.

101 Spear Street, Fifth Floor

San Francisco, California 94105

(Name and address of agent for service)

(415) 390-2337

(Telephone number, including area code, of agent for service)

 

 

Copies to:

 

Rezwan D. Pavri

Colin G. Conklin
Wilson Sonsini Goodrich & Rosati, P.C.
650 Page Mill Road
Palo Alto, California 94304
Telephone: (650) 493-9300

Facsimile: (650) 493-6811

 

Juliana Chen
Corporate Secretary

Twilio Inc.
101 Spear Street, Fifth Floor
San Francisco, California 94105
Telephone: (415) 390-2337

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer      Accelerated filer  
Non-accelerated filer      Smaller reporting company  
     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 7(a)(2)(B) of the Securities Act. ☐

 

 

 


 

REGISTRATION OF ADDITIONAL SHARES

PURSUANT TO GENERAL INSTRUCTION E

Twilio Inc. (the “Registrant”) is filing this Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission (the “Commission”) to register an additional 7,630,534 shares of the Registrant’s Class A common stock for issuance under the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan (“2016 Plan”) and an additional 1,526,106 shares of the Registrant’s Class A common stock for issuance under the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan (“2016 ESPP”), pursuant to the provisions of the 2016 Plan and the 2016 ESPP that provide for an automatic annual increase in the number of shares reserved for issuance under these respective plans. Pursuant to General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the registration statements on Form S-8 filed by the Registrant with the Commission on February 27, 2024 (File No. 333-277403), February  27, 2023 (File No. 333-270025), August  5, 2022 (File No. 333-266593), August  2, 2021 (File No. 333-258368), March  2, 2020 (File No. 333-236819), February  8, 2019 (File No. 333-229580), May  10, 2018 (File No. 333-224812) and June  23, 2016 (File No. 333-212191), in each case to the extent not modified or superseded hereby or by any subsequently filed document incorporated by reference herein or therein.

Item 8. Exhibits.

 

         

Incorporated by Reference

Exhibit
Number

  

Description

  

Form

  

File No.

  

Exhibit

  

Filing Date

5.1    Opinion of Wilson Sonsini Goodrich & Rosati, P.C.             Filed herewith
23.1    Consent of KPMG LLP, independent registered public accounting firm.             Filed herewith
23.2    Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1 hereto).             Filed herewith
24.1    Power of Attorney (included on the signature page hereto).             Filed herewith
99.1    Twilio Inc. Amended and Restated 2016 Stock Option and Incentive Plan, and forms of agreements thereunder.    10-K    001-37806    10.3    February 26, 2021
99.2    Twilio Inc. Amended and Restated 2016 Employee Stock Purchase Plan.    10-Q    001-37806    10.1    October 31, 2019
107.1    Filing Fee Table.             Filed herewith


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in San Francisco, California, on February 26, 2025.

 

TWILIO INC.
By:  

/s/ Khozema Z. Shipchandler

  Khozema Z. Shipchandler
  Chief Executive Officer

POWER OF ATTORNEY AND SIGNATURES

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Khozema Z. Shipchandler and Aidan Viggiano, and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign the Registration Statement on Form S-8 of Twilio Inc., and any or all amendments (including post-effective amendments), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite or necessary to be done in connection therewith and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

  

Title

  

Date

/s/ Khozema Z. Shipchandler

  

Chief Executive Officer and Director

(Principal Executive Officer)

   February 26, 2025
Khozema Z. Shipchandler   

/s/ Aidan Viggiano

  

Chief Financial Officer

(Principal Financial and Accounting Officer)

   February 26, 2025
Aidan Viggiano   

/s/ Charlie Bell

   Director    February 26, 2025
Charlie Bell      

/s/ Donna Dubinsky

   Director    February 26, 2025
Donna Dubinsky      

/s/ Jeff Epstein

   Director    February 26, 2025
Jeff Epstein      

/s/ Jeffrey Immelt

   Director    February 26, 2025
Jeffrey Immelt      

/s/ Deval Patrick

   Director    February 26, 2025
Deval Patrick      

/s/ Erika Rottenberg

   Director    February 26, 2025
Erika Rottenberg      

/s/ Andy Stafman

   Director    February 26, 2025
Andy Stafman      

/s/ Miyuki Suzuki

   Director    February 26, 2025
Miyuki Suzuki      

Exhibit 5.1

 

LOGO     

Wilson Sonsini Goodrich & Rosati

Professional Corporation

 

650 Page Mill Road

Palo Alto, California 94304-1050

 

O: 650.493.9300

F: 650.493.6811

February 26, 2025

Twilio Inc.

101 Spear Street, Fifth Floor

San Francisco, California 94105

 

  Re:

Registration Statement on Form S-8

Ladies and Gentlemen:

We have examined the Registration Statement on Form S-8 (the “Registration Statement”) to be filed by Twilio Inc., a Delaware corporation (the “Company”), with the Securities and Exchange Commission on or about the date hereof, in connection with the registration under the Securities Act of 1933, as amended, of an aggregate of 9,156,640 shares (the “Shares”) of Class A common stock, par value $0.001 per share (the “Class A Common Stock”), consisting of: (i) 7,630,534 shares of Class A Common Stock that may be issued under the 2016 Stock Option and Incentive Plan, as amended and restated (the “2016 Plan”), and (ii) 1,526,106 shares of Class A Common Stock that may be issued under the 2016 Employee Stock Purchase Plan, as amended and restated (the “2016 ESPP,” and together with the 2016 Plan, the “Plans”).

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plans and pursuant to the agreements that accompany the Plans, will be legally and validly issued, fully paid and nonassessable.

We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to the use of our name wherever appearing in the Registration Statement and any amendments thereto.

 

Very truly yours,
/s/ Wilson Sonsini Goodrich & Rosati, P.C.
WILSON SONSINI GOODRICH & ROSATI
Professional Corporation

AUSTIN BEIJING BOSTON BOULDER BRUSSELS HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO

SALT LAKE CITY SAN DIEGO SAN FRANCISCO SEATTLE SHANGHAI WASHINGTON, DC WILMINGTON, DE

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the use of our report dated February 26, 2025, with respect to the consolidated financial statements of Twilio, Inc., and the effectiveness of internal control over financial reporting, incorporated herein by reference.

/s/ KPMG LLP

San Francisco, California

February 26, 2025

0001447669EX-FILING FEESfalsefalseClass A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant's Amended and Restated 2016 Stock Option and Incentive PlanClass A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant's Amended and Restated 2016 Employee Stock Purchase Plan 0001447669 2025-02-26 2025-02-26 0001447669 1 2025-02-26 2025-02-26 0001447669 2 2025-02-26 2025-02-26 iso4217:USD xbrli:pure xbrli:shares
Exhibit 107.1
CALCULATION OF FILING FEE TABLES
Form S-8
(Form Type)
Twilio Inc.
(Exact name of registrant as specified in its charter)
Table 1 - Newly Registered Securities
 
     
 Security 
Type
  
Security
Class
Title
 
Fee
 Calculation 
Rule
 
Amount
Registered
 
Proposed
 Maximum 
Offering
Price Per
Unit
 
Maximum
Aggregate
Offering
Price
 
Fee
Rate
 
Amount of
Registration
Fee
(1) 
   Equity   
Class A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan
  Other   7,630,534   $116.05    $885,523,470.70   0.0001531   $135,573.65
(2)
   Equity   
Class A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan
  Other   1,526,106   $98.65   $150,550,356.90   0.0001531   $23,049.26
Total Offering Amounts
    $1,036,073,827.60      $158,622.91
Total Fee Offsets
       
Net Fee Due
        $158,622.91
 
(1)
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement covers any additional shares of Class A common stock of Twilio Inc. (the “Registrant”) that become issuable under the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan (“2016 Plan”) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s Class A common stock.
 
The amount registered represents an automatic increase on January 1, 2025 to the number of shares available for issuance under the 2016 Plan in accordance with the automatic annual increase provisions of the 2016 Plan.
 
The proposed maximum offering price per unit is estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 21, 2025.
 
(2)
Pursuant to Rule 416(a) of the Securities Act, this Registration Statement covers any additional shares of Class A common stock of the Registrant that become issuable under the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan (“2016 ESPP”) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s Class A common stock.
 
The amount registered represents an automatic increase on January 1, 2025 to the number of shares available for issuance under the Registrant’s 2016 ESPP in accordance with the automatic annual increase provisions of the 2016 ESPP.
 
The proposed maximum offering price per unit is estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of 85% of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 21, 2025. Pursuant to the 2016 ESPP, the purchase price of the shares of Class A common stock reserved for issuance thereunder will be at least 85% of the lower of the fair market value of a share of Class A common stock on the first trading day of the offering period or on the exercise date.
v3.25.0.1
Submission
Feb. 26, 2025
Submission [Line Items]  
Central Index Key 0001447669
Registrant Name Twilio Inc.
Form Type S-8
Submission Type S-8
Fee Exhibit Type EX-FILING FEES
v3.25.0.1
Offerings
Feb. 26, 2025
USD ($)
shares
Offering: 1  
Offering:  
Fee Previously Paid false
Other Rule true
Security Type Equity
Security Class Title Class A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant's Amended and Restated 2016 Stock Option and Incentive Plan
Amount Registered | shares 7,630,534
Proposed Maximum Offering Price per Unit 116.05
Maximum Aggregate Offering Price $ 885,523,470.7
Fee Rate 0.01531%
Amount of Registration Fee $ 135,573.65
Offering Note
(1)
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement covers any additional shares of Class A common stock of Twilio Inc. (the “Registrant”) that become issuable under the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan (“2016 Plan”) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s Class A common stock.
 
The amount registered represents an automatic increase on January 1, 2025 to the number of shares available for issuance under the 2016 Plan in accordance with the automatic annual increase provisions of the 2016 Plan.
 
The proposed maximum offering price per unit is estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 21, 2025.
Offering: 2  
Offering:  
Fee Previously Paid false
Other Rule true
Security Type Equity
Security Class Title Class A common stock, $0.001 par value per share, reserved for issuance pursuant to the Registrant's Amended and Restated 2016 Employee Stock Purchase Plan
Amount Registered | shares 1,526,106
Proposed Maximum Offering Price per Unit 98.65
Maximum Aggregate Offering Price $ 150,550,356.9
Fee Rate 0.01531%
Amount of Registration Fee $ 23,049.26
Offering Note
(2)
Pursuant to Rule 416(a) of the Securities Act, this Registration Statement covers any additional shares of Class A common stock of the Registrant that become issuable under the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan (“2016 ESPP”) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s Class A common stock.
 
The amount registered represents an automatic increase on January 1, 2025 to the number of shares available for issuance under the Registrant’s 2016 ESPP in accordance with the automatic annual increase provisions of the 2016 ESPP.
 
The proposed maximum offering price per unit is estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of 85% of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 21, 2025. Pursuant to the 2016 ESPP, the purchase price of the shares of Class A common stock reserved for issuance thereunder will be at least 85% of the lower of the fair market value of a share of Class A common stock on the first trading day of the offering period or on the exercise date.
v3.25.0.1
Fees Summary
Feb. 26, 2025
USD ($)
Fees Summary [Line Items]  
Total Offering $ 1,036,073,827.6
Total Fee Amount 158,622.91
Total Offset Amount 0
Net Fee $ 158,622.91

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