Nirav N. Tolia - Apr 3, 2024 Form 4 Insider Report for Nextdoor Holdings, Inc. (KIND)

Role
Director, 10%+ Owner
Signature
/s/ Sophia Contreras Schwartz, as Attorney-in-Fact for Reporting Person
Stock symbol
KIND
Transactions as of
Apr 3, 2024
Transactions value $
$0
Form type
4
Date filed
4/5/2024, 04:00 PM
Previous filing
Apr 4, 2024
Next filing
May 3, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KIND Restricted Stock Units (RSU) Award $0 +5.01M $0.00 5.01M Apr 3, 2024 Class A Common Stock 5.01M Direct F1, F2
transaction KIND Performance Stock Units (PSU) Award $0 +5.01M $0.00 5.01M Apr 3, 2024 Class A Common Stock 5.01M Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the reporting person's continued service to the Issuer on each vesting date.
F2 The award vests quarterly over four years on January 15, April 15, July 15 and October 15 of each calendar year, with the first such vesting date on July 15, 2024.
F3 Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject to the achievement of applicable performance criteria and the reporting person's continued service to the Issuer in the role of Chief Executive Officer or Executive Chair through the date such achievement is certified.
F4 Unless earlier terminated pursuant to, and subject to the terms of, the applicable equity agreement entered into between the reporting person and the Issuer (the "PSU Agreement"), the PSUs shall vest, in ratable tranches representing 25% of the total award, upon the certification of achievement of certain stock price targets for the Issuer's Class A Common Stock, measured with respect to certain performance periods more completely described in the PSU Agreement, with such measurement periods continuing over the four-year period beginning March 18, 2025 and ending March 18, 2029. In the event that any tranche does not vest by the end of the applicable performance measurement period, the PSU comprising such tranche shall be forfeited for no consideration.