XML 30 R18.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Preferred Stock
As of June 30, 2024, and December 31, 2023, 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, 2024, 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 June 30, 2024, 164,150,089 shares of Class A common stock and no shares of Class B common stock were issued and outstanding.
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 with a 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.
The Company had reserved shares of common stock for issuance as follows:
As of June 30,As of December 31,
20242023
Stock options issued and outstanding1,529,641 1,722,861 
Unvested restricted stock units issued and outstanding22,542,340 18,755,538 
Shares of Class A common stock reserved for Twilio.org397,837 442,041 
Stock-based awards available for grant under 2016 Plan22,580,783 19,869,260 
Shares of Class A common stock reserved for issuance pursuant to ESPP9,947,222 8,541,701 
Total56,997,823 49,331,401 
Share Repurchase Programs

In February 2023, the board of directors of the Company authorized a repurchase of up to $1.0 billion in aggregate value of its outstanding Class A common stock through a share repurchase program. In March 2024, the board of directors of the Company authorized a second share repurchase program for an additional $2.0 billion in aggregate value of its outstanding Class A common stock. Repurchases under these programs 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. Both programs expire on December 31, 2024.

In the three months ended June 30, 2024 and 2023, the Company repurchased 15.2 million and 6.4 million shares of its Class A common stock, respectively, for an aggregate purchase price of $898.6 million and $370.0 million, respectively. In the six months ended June 30, 2024 and 2023, the Company repurchased 21.4 million and 8.3 million shares of its Class A common stock, respectively, for an aggregate purchase price of $1.3 billion and $495.0 million, respectively. As of June 30, 2024, approximately $1.0 billion of the aggregate amount authorized under the stock repurchase programs remained available for future repurchases.