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Stockholders' Equity
 6 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Preferred Stock
As of June 30, 2023, and December 31, 2022, the Company had authorized 100,000,000 shares of preferred stock, par value $0.001, of which no shares were issued and outstanding.
Common Stock
As of June 30, 2023, the Company had authorized 1,000,000,000 shares of Class A common stock and 3,170,181 shares of Class B common stock, each with a par value of $0.001 per share. As of December 31, 2022, the Company had authorized 1,000,000,000 shares of Class A common stock and 100,000,000 shares of Class B common stock, each with a par value of $0.001 per share. As of June 30, 2023, 181,174,616 shares of Class A common stock and no shares of Class B common stock were issued and outstanding. As of December 31, 2022, 176,358,104 shares of Class A common stock and 9,617,605 shares of Class B common stock were issued and outstanding.
On June 28, 2023, each outstanding share of the Company’s Class B common stock automatically converted (the “Conversion”) into one share of the Company’s Class A common stock pursuant to the terms of the Company’s amended and restated certificate of incorporation. In addition, upon the Conversion, outstanding stock options that were exercisable for shares of Class B common stock prior to the Conversion became exercisable for shares of Class A common stock. The Company filed a Certificate of Retirement with the Secretary of State of the State of Delaware effecting the retirement of all of the shares of its Class B common stock that were issued but not outstanding following the Conversion.
The Company had reserved shares of common stock for issuance as follows:
As of June 30, 2023As of December 31, 2022
Stock options issued and outstanding1,907,102 2,277,379 
Unvested restricted stock units issued and outstanding22,092,462 15,414,997 
Shares of Class A common stock reserved for Twilio.org486,245 530,449 
Stock-based awards available for grant under 2016 Plan20,268,133 19,851,399 
Shares of Class A common stock reserved for issuance pursuant to ESPP8,868,572 7,648,429 
Total53,622,514 45,722,653 
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Share Repurchase Program

In February 2023, the Board of Directors of the Company authorized a share repurchase program pursuant to which the Company may repurchase up to $1.0 billion in aggregate value of its outstanding Class A common stock. Repurchases under this program can be made through open market, private transactions or other means, in compliance with applicable federal securities laws, and could include repurchases pursuant to Rule 10b5-1 trading plans. The Company has discretion in determining the conditions under which shares may be repurchased from time to time. The program expires on December 31, 2024.
In the three and six months ended June 30, 2023, the Company repurchased 6.4 million and 8.3 million shares of its Class A common stock, respectively, for an aggregate purchase price of $370.0 million and $495.0 million, respectively. As of June 30, 2023, approximately $505.0 million of the originally authorized amount remained available for future repurchases