S-8

As filed with the U.S. Securities and Exchange Commission on February 24, 2023

Registration No. 333-

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

Twilio Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   26-2574840

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

101 Spear Street, Fifth Floor

San Francisco, California 94105

(Address of principal executive offices, including zip code)

Amended and Restated 2016 Stock Option and Incentive Plan

Amended and Restated 2016 Employee Stock Purchase Plan

(Full title of the plans)

Jeff Lawson

Chief Executive Officer

Twilio Inc.

101 Spear Street, Fifth Floor

San Francisco, California 94105

(Name and address of agent for service)

(415) 390-2337

(Telephone number, including area code, of agent for service)

 

 

Copies to:

 

Rezwan D. Pavri

Colin G. Conklin

Wilson Sonsini Goodrich & Rosati, P.C.

650 Page Mill Road

Palo Alto, California 94304

Telephone: (650) 493-9300

Facsimile: (650) 493-6811

 

Dana R. Wagner

Chief Legal Officer, Chief Compliance Officer and

Corporate Secretary

Twilio Inc.

101 Spear Street, Fifth Floor

San Francisco, California 94105

Telephone: (415) 390-2337

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer      Accelerated filer  
Non-accelerated filer      Smaller reporting company  
     Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  ☐

 

 

 


REGISTRATION OF ADDITIONAL SHARES

PURSUANT TO GENERAL INSTRUCTION E

Twilio Inc. (the “Registrant”) is filing this Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission (the “Commission”) to register an additional 9,298,785 shares of the Registrant’s Class A common stock for issuance under the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan (“2016 Plan”) and an additional 1,800,000 shares of the Registrant’s Class A common stock for issuance under the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan (“2016 ESPP”), pursuant to the provisions of the 2016 Plan and the 2016 ESPP that provide for an automatic annual increase in the number of shares reserved for issuance under these respective plans. Pursuant to General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the registration statements on Form S-8 filed by the Registrant with the Commission on August 5, 2022 (File No. 333-266593), August  2, 2021 (File No. 333-258368), March  2, 2020 (File No. 333-236819), February  8, 2019 (File No. 333-229580), May  10, 2018 (File No. 333-224812) and June  23, 2016 (File No. 333-212191), in each case to the extent not modified or superseded hereby or by any subsequently filed document incorporated by reference herein or therein.

 

Item 8.

Exhibits.

 

          Incorporated by Reference

Exhibit
Number

  

Description

  

Form

    

File No.

    

Exhibit

    

Filing Date

    5.1    Opinion of Wilson Sonsini Goodrich & Rosati, P.C.             Filed herewith
  23.1    Consent of KPMG LLP, independent registered public accounting firm.             Filed herewith
  23.2    Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1 hereto).             Filed herewith
  24.1    Power of Attorney (included on the signature page hereto).             Filed herewith
  99.1    Twilio Inc. Amended and Restated 2016 Stock Option and Incentive Plan, and forms of Agreements thereunder.      10-K        001-37806        10.3      February 26, 2021
  99.2    Twilio Inc. Amended and Restated 2016 Employee Stock Purchase Plan.      10-Q        001-37806        10.1      October 31, 2019
107.1    Filing Fee Table.             Filed herewith


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in San Francisco, California, on February 24, 2023.

 

TWILIO INC.
By:   /s/ Jeff Lawson
 

Jeff Lawson

Chief Executive Officer

POWER OF ATTORNEY AND SIGNATURES

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jeff Lawson, Khozema Z. Shipchandler and Dana R. Wagner, and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign the Registration Statement on Form S-8 of Twilio Inc., and any or all amendments (including post-effective amendments), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite or necessary to be done in connection therewith and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

  

Title

 

Date

/s/ Jeff Lawson

Jeff Lawson

  

Chief Executive Officer and Chairperson

(Principal Executive Officer)

  February 24, 2023

/s/ Khozema Z. Shipchandler

Khozema Z. Shipchandler

  

Chief Operating Officer

(Principal Financial and Accounting Officer)

  February 24, 2023

/s/ Richard Dalzell

Richard Dalzell

   Director   February 24, 2023

/s/ Byron Deeter

Byron Deeter

   Director   February 24, 2023

/s/ Donna Dubinsky

Donna Dubinsky

   Director   February 24, 2023

/s/ Jeff Epstein

Jeff Epstein

   Director   February 24, 2023

/s/ Jeffrey Immelt

Jeffrey Immelt

   Director   February 24, 2023

/s/ Deval Patrick

Deval Patrick

   Director   February 24, 2023

/s/ Erika Rottenberg

Erika Rottenberg

   Director   February 24, 2023

/s/ Miyuki Suzuki

Miyuki Suzuki

   Director   February 24, 2023
EX-5.1

Exhibit 5.1

 

LOGO      

Wilson Sonsini Goodrich & Rosati

Professional Corporation

 

650 Page Mill Road

Palo Alto, California 94304-1050

 

O: 650.493.9300

F: 650.493.6811

February 24, 2023

Twilio Inc.

101 Spear Street, Fifth Floor

San Francisco, California 94105

 

  Re:

Registration Statement on Form S-8

Ladies and Gentlemen:

We have examined the Registration Statement on Form S-8 (the “Registration Statement”) to be filed by Twilio Inc., a Delaware corporation (the “Company”), with the Securities and Exchange Commission on or about the date hereof, in connection with the registration under the Securities Act of 1933, as amended, of an aggregate of 11,098,785 shares (the “Shares”) of Class A common stock, par value $0.001 per share (the “Class A Common Stock”), consisting of: (i) 9,298,785 shares of Class A Common Stock that may be issued under the 2016 Stock Option and Incentive Plan, as amended and restated (the “2016 Plan”), and (ii) 1,800,000 shares of Class A Common Stock that may be issued under the 2016 Employee Stock Purchase Plan, as amended and restated (the “2016 ESPP,” and together with the 2016 Plan, the “Plans”).

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plans and pursuant to the agreements that accompany the Plans, will be legally and validly issued, fully paid, and nonassessable.

We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to the use of our name wherever appearing in the Registration Statement and any amendments thereto.

Very truly yours,

/s/ Wilson Sonsini Goodrich & Rosati

WILSON SONSINI GOODRICH & ROSATI

Professional Corporation

AUSTIN    BEIJING    BOSTON    BOULDER    BRUSSELS    HONG KONG    LONDON    LOS ANGELES    NEW YORK    PALO ALTO

SALT LAKE CITY      SAN DIEGO      SAN FRANCISCO      SEATTLE      SHANGHAI      WASHINGTON, DC      WILMINGTON, DE

EX-23.1

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the use of our reports dated February 24, 2023, with respect to the consolidated financial statements of Twilio, Inc., and the effectiveness of internal control over financial reporting, incorporated herein by reference.

/s/ KPMG LLP

Santa Clara, California

February 24, 2023

EX-FILING FEES

Exhibit 107.1

CALCULATION OF FILING FEE TABLES

Form S-8

(Form Type)

Twilio Inc.

(Exact name of registrant as specified in its charter)

Table 1 — Newly Registered Securities

 

Security

Type

   Security Class Title    Fee
Calculation    
Rule
   Amount
Registered(1)
    Proposed
Maximum
Offering Price    
Per Unit
  Maximum
Aggregate
Offering Price
     Fee Rate      Amount of
Registration
Fee
 

Equity

   Class A Common Stock,
$0.001 par value per share, 
reserved for issuance pursuant
to the Registrant’s Amended
and Restated 2016 Stock
Option and Incentive Plan
   Rule
457(c)
and
Rule
457(h)
     9,298,785 (2)    $66.86(4)   $ 621,716,765.10        0.0001102      $ 68,513.19  

Equity

   Class A Common Stock,
$0.001 par value per share,
reserved for issuance pursuant
to the Registrant’s Amended
and Restated 2016 Employee
Stock Purchase Plan
   Rule
457(c)
and
Rule
457(h)
     1,800,000 (3)    $56.84(5)   $ 102,312,000.00        0.0001102      $ 11,274.79  

Total Offering Amounts

 

    $ 724,028,765.10             $ 79,787.98  

Total Fee Offsets(6)

 

                     

Net Fee Due

 

                  $ 79,787.98  

 

  (1)

Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of Class A common stock of Twilio Inc. (the “Registrant”) that become issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration that results in an increase in the number of the outstanding shares of the Registrant’s Class A common stock.

 

  (2)

Represents an automatic increase on January 1, 2023 to the number of shares available for issuance under the Registrant’s Amended and Restated 2016 Stock Option and Incentive Plan (“2016 Plan”) in accordance with the automatic annual increase provisions of the 2016 Plan.

 

  (3)

Represents an automatic increase on January 1, 2023 to the number of shares available for issuance under the Registrant’s Amended and Restated 2016 Employee Stock Purchase Plan (“2016 ESPP”) in accordance with the automatic annual increase provisions of the 2016 ESPP.

 

  (4)

Estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 22, 2023.

 

  (5)

Estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of 85% of the average of the high and low prices of Class A common stock, as reported on the New York Stock Exchange on February 22, 2023. Pursuant to the 2016 ESPP, the purchase price of the shares of Class A common stock reserved for issuance thereunder will be at least 85% of the lower of the fair market value of a share of Class A common stock on the first trading day of the offering period or on the exercise date.

 

  (6)

The Registrant does not have any fee offsets.