SCHEDULE: Klarna Co-Founder Siemiatkowski Boosts Stake to 7.49%

Klarna Group plc's co-founder, Sebastian Siemiatkowski, has disclosed a beneficial ownership of 7.49% of the company's ordinary shares as of September 30, 2025.

Summary

• Sebastian Siemiatkowski, co-founder of Klarna Group plc, beneficially owns 28,555,512 ordinary shares, representing 7.49% of the class.
• This ownership includes 24,564,396 ordinary shares held by Double Sunday AB and 87,420 ordinary shares held by Flat Capital AB (publ), both controlled by Mr. Siemiatkowski.
• The total also comprises 962,460 ordinary shares from currently exercisable options and 2,941,236 ordinary shares from currently exercisable Class C options.
• The percentage of ownership is calculated based on 377,255,045 ordinary shares outstanding as of September 30, 2025.
• Mr. Siemiatkowski also beneficially owns 24,651,816 Class B shares, each carrying 10 votes, which are not transferable or convertible into ordinary shares and convert to deferred shares under certain conditions.
• The reported beneficial ownership excludes shares subject to vesting or exercise conditions not expected to occur within 60 days from September 30, 2025.

Sentiment

Score: 7

Explanation: The disclosure of a substantial beneficial ownership by a co-founder, including significant voting power through Class B shares, generally signals strong insider commitment and alignment with shareholder interests, which is a positive indicator.

Positives

• Significant beneficial ownership by a co-founder (7.49% of ordinary shares) indicates strong alignment of interests with the company's long-term success.
• The co-founder's control over entities holding a substantial portion of these shares (Double Sunday AB and Flat Capital AB (publ)) reinforces his direct influence.
• Ownership of 24,651,816 Class B shares, each with 10 votes, provides substantial voting power, demonstrating strong insider control and stability.

Negatives

• The Class B shares, while providing significant voting power, are not transferable or convertible into ordinary shares, limiting their liquidity for the holder.
• Class B shares automatically convert into deferred shares (with no voting rights) under certain circumstances, which could dilute the co-founder's voting influence in the future.

Risks

• The concentration of significant voting power through Class B shares in the hands of a single individual (Sebastian Siemiatkowski) could raise corporate governance concerns regarding minority shareholder influence.
• Future conversions of Class B shares into deferred shares could alter the voting structure and influence of the co-founder.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Related Party Transactions

• On October 30, 2025, Flat Capital AB (publ) acquired all shares held by Double Sunday AB. Both entities are controlled by Mr. Siemiatkowski, indicating an internal restructuring of his holdings.

Stakeholder Impact

• Shareholders: The significant insider ownership by a co-founder may instill confidence due to aligned interests, but the concentrated voting power of Class B shares could limit the influence of other shareholders.
• Management: The co-founder's substantial stake and voting power provide a strong mandate and influence over strategic direction.

Next Steps

• Monitoring of any future changes in Mr. Siemiatkowski's beneficial ownership or the structure of Class B shares.

Key Dates

Recommendation

The filing is a disclosure of beneficial ownership by a co-founder, not a financial performance report. While a significant insider stake can be a positive signal of confidence and alignment, it does not provide enough information to warrant a 'buy' or 'sell' recommendation. It primarily confirms the existing influence of a key individual within the company. Investors should 'hold' and consider this information in conjunction with the company's financial performance and strategic updates.

Keywords

Klarna Group plc, Sebastian Siemiatkowski, Schedule 13G, Beneficial Ownership, Ordinary Shares, Class B Shares, Insider Ownership, Voting Power, SEC Filing, Fintech