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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2023
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders' Equity Preferred Stock As of September 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 September 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 September 30, 2023, 182,066,098 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 September 30, |  | As of December 31,
|  | 2023 |  | 2022
Stock options issued and outstanding |  | 1,778,852 |  |  | 2,277,379 |
Unvested restricted stock units issued and outstanding |  | 20,263,588 |  |  | 15,414,997 |
Shares of Class A common stock reserved for Twilio.org |  | 464,143 |  |  | 530,449 |
Stock-based awards available for grant under 2016 Plan |  | 20,480,221 |  |  | 19,851,399 |
Shares of Class A common stock reserved for issuance pursuant to ESPP |  | 8,868,572 |  |  | 7,648,429 |
Total |  | 51,855,376 |  |  | 45,722,653 |
Share Repurchase Program In February 2023, the Board of Directors of the Company authorized the repurchase of up to $1.0 billion in aggregate value of its outstanding Class A common stock through a share repurchase program. 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 nine months ended September 30, 2023, the Company repurchased 0.9 million and 9.2 million shares of its Class A common stock, respectively, for an aggregate purchase price of $56.0 million and $551.0 million, respectively. As of September 30, 2023, approximately $449.0 million of the originally authorized amount remained available for future repurchases.

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