Sarah Friar - 28 Jul 2023 Form 4 Insider Report for Nextdoor Holdings, Inc. (KIND)

Role
CEO and President, Director, 10%+ Owner
Signature
/s/ Sophia Contreras Schwartz, as Attorney-in-Fact for Reporting Person
Issuer symbol
KIND
Transactions as of
28 Jul 2023
Net transactions value
$0
Form type
4
Filing time
01 Aug 2023, 16:21:49 UTC
Previous filing
06 Jul 2023
Next filing
06 Sep 2023
SEC
View on sec.gov

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 Stock Options (Right to buy) Award $0 +23,451 $0.000000 23,451 01 Aug 2023 Class A Common Stock 23,451 $3.10 Direct F1
transaction KIND Stock Options (Right to buy) Award $0 +58,629 $0.000000 58,629 01 Aug 2023 Class A Common Stock 58,629 $3.10 Direct F2
transaction KIND Stock Option (Right to Buy) Options Exercise $0 -1,500,000 -65% $0.000000 808,097 28 Jul 2023 Class B Common Stock 1,500,000 $2.41 Direct F3
transaction KIND Class B Common Stock Options Exercise $0 +1,500,000 +13% $0.000000 13,175,917 28 Jul 2023 Class A Common Stock 1,500,000 Direct F4, F5, F6
holding KIND Class B Common Stock 1,754,784 28 Jul 2023 Class A Common Stock 1,754,784 Sarah Friar 2019 NXTDR Grantor Retained Annuity Trust dated November 20, 2019 F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The award vests in full on September 1, 2024, subject to the reporting person's continued service to the Issuer on each vesting date.
F2 The award vests in full on September 1, 2025, subject to the reporting person's continued service to the Issuer on each vesting date.
F3 The award vested in full upon the closing of the business combination which was effectuated in accordance with the terms of an Agreement and Plan of Merger dated as of July 6, 2021, entered into by and among: (i) Khosla Ventures Acquisition Co. II (the "Issuer"), a Delaware corporation; (ii) Lorelei Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Issuer; and (iii) Nextdoor, Inc., a Delaware corporation.
F4 Each share of the Issuer's Class B Common Stock is convertible into one share of Class A Common Stock at any time, at the election of the holder or automatically upon certain transfers.
F5 A holder's shares of the Issuer's Class B Common Stock convert automatically upon certain transfers. Additionally, all of the Issuer's Class B Common Stock will convert automatically into Class A Common Stock on a one-for-one basis upon the earlier of: (i) November 5, 2031; or (ii) the date specified by the affirmative vote of the holders of two-thirds of the Class B Common Stock then outstanding.
F6 The reported totals reflect the number of shares of Class B Common Stock owned after giving effect to a transfer previously made by the reporting person in a transaction exempt from reporting pursuant to Rule 16a-13.