January 20, 2022

Transcript: “Understanding LTSE Listings”

We’ve posted the transcript for our recent webcast for members, “Understanding LTSE Listings.” LTSE Services’ Martin Alvarez and Jane Storero, Asana’s Katie Colendich and Eleanor Lacey, and Twilio’s Mariam Sattar shared practical tips about the listing process and what it means to be traded on the LTSE, including this nugget from Mariam:

Unlike Asana, we were already a public company when we started to have internal discussions around listing with LTSE. The champions internally for our organization were our IR organization. They were intrigued both about and around aligning the values of LTSE with those that Twilio already has; particularly with respect to our social impact and DEI initiatives, which we’ve been championing and are proud of internally. Additionally, we wanted to attract long-term capital and some of the technological solutions that would allow us to target and build a shareholder base that’s consistent with our social values and our DEI initiatives.

Our board was excited about LTSE in general. The practicalities of the listing process from our perspective were a minimal lift, and that will be an overarching theme here. The principles-based approach enabled us to produce one LTSE policy in which we addressed all the different principles: the long-term stakeholder policy, compensation, strategy, investor policy and board policy. Within that one policy and those overarching values, we leveraged what we were already doing internally. There weren’t shifts that we had to make as a company to bring ourselves into alignment with LTSE.

When we had made the decision to do one policy, we created an internal working group that consisted of our head of social impact, our head of DEI, our chief people officer, our head of IR, myself as the legal person and outside counsel. Together, we brainstormed on what that policy would look like and the ways in which it spoke to our organization and was consistent with Twilio’s ideologies. For us, that ended up being not a significant lift.

Liz Dunshee