XML 41 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Preferred Stock
As of December 31, 2023 and 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 December 31, 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 par value of $0.001 per share. As of December 31, 2023, 181,945,771 shares of Class A common stock and no shares of Class B common stock were issued and outstanding.
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 par value of $0.001 per share. 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.
The Company had reserved shares of common stock for issuance as follows:
As of December 31,
20232022
Stock options issued and outstanding1,722,861 2,277,379 
Unvested restricted stock units issued and outstanding18,755,538 15,414,997 
Shares of Class A common stock reserved for Twilio.org442,041 530,449 
Stock-based awards available for grant under 2016 Plan19,869,260 19,851,399 
Shares of Class A common stock reserved for issuance pursuant to ESPP8,541,701 7,648,429 
Total49,331,401 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 the 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.
During the year ended December 31, 2023, the Company repurchased 11.3 million shares of its Class A common stock for an aggregate purchase price of $672.1 million. As of December 31, 2023, approximately $327.9 million of the originally authorized amount remained available for future repurchases.
Public Equity Offerings
In February 2021, the Company completed a public equity offering in which it sold 4,312,500 shares of its Class A common stock at a public offering price of $409.60 per share. The Company received total proceeds of $1.8 billion, net of underwriting discounts and offering expenses paid by the Company.