secwatch.observer — SEC 8-K summary
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Issuer:     TWILIO INC (TWLO)
CIK:        0001447669
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001193125-23-045159
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Twilio appoints Aidan Viggiano as CFO; grants cash awards to execs, extends CEO severance plan
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- Aidan Viggiano to become CFO effective March 1, 2023; receives $2.75M target cash award.
- Khozema Shipchandler and Elena Donio each receive $3M target cash award; Dana Wagner $1.5M.
- CEO Severance Plan extended for 3 years; new Senior Executive Severance Plan approved for 3-year term.
- Cash awards tied to 2023 non-GAAP operating profit targets; linear payout from threshold to target.
- Severance benefits include lump sum cash (18 months base for CEO, 12 months for senior execs) and COBRA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1447669/000119312523045159/0001193125-23-045159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1447669/000119312523045159/d490360d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-045159

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer