Summary by Futu AI
Anson Funds, significant shareholders of Twilio Inc., have influenced critical governance changes within the company, including the departure of longtime director Byron Deeter. This follows Anson Funds' continued engagement with Twilio's Board, leading to a press release announcing the changes and a proposal to declassify the Board. Anson Funds has been in discussions with Twilio, advocating for governance improvements and better stockholder representation. Despite initial resistance, Twilio's Board has now taken steps to address these issues under pressure from Anson Funds. Anson Funds intends to hold the Board publicly accountable to protect the interests of all stockholders, focusing on strategy, operations, governance, and capital allocation. The firm, with $1.8 billion in assets, plans to file a definitive proxy statement for the 2024 Annual Meeting of Stockholders of Twilio Inc. The Participants collectively own 632,683 shares of Twilio's Class A common stock, including shares underlying call option contracts.
