Summary by Moomoo AI
On September 30, 2024, Twilio Inc. announced amendments to its executive severance plans, which were approved by the Compensation and Talent Management Committee of the Board of Directors. The changes to the Amended Chief Executive Officer Severance Plan and the Senior Executive Severance Plan are designed to provide specified severance benefits to participants in the event of a qualifying termination around the time of a change in control of the company. The amendments stipulate that eligible participants will receive a lump sum payment, continued health insurance contributions, and full accelerated vesting of outstanding equity awards, with certain conditions applied to performance-based awards. The details of the amended plans were attached as exhibits to the company's Form 8-K filing with the SEC.
