Form 4: Klaviyo CFO Executes Stock Sales Under 10b5-1 Plan

Klaviyo's Chief Financial Officer, Amanda Whalen, sold a total of 25,000 shares of Series A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Amanda Whalen, the Chief Financial Officer of Klaviyo, Inc., executed transactions involving the company's stock.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on August 16, 2024.
• On December 6, 2024, Ms. Whalen acquired 23,950 shares of Series A Common Stock and then sold the same amount at a weighted average price of $40.04 per share.
• On December 9, 2024, she acquired 1,050 shares of Series A Common Stock and then sold the same amount at a weighted average price of $40.07 per share.
• The sales were executed in multiple transactions with prices ranging from $40.00 to $40.11 on December 6th and $40.00 to $40.15 on December 9th.
• Following these transactions, Ms. Whalen directly owns 395,616 shares of Series A Common Stock, which includes 349,909 unvested restricted stock units (RSUs).
• She also holds 561,262 shares of Series B Common Stock, which includes 382,292 unvested RSUs, convertible to Series A Common Stock.

Sentiment

Score: 5

Explanation: The document reflects routine insider trading activity under a pre-arranged plan, which is neither positive nor negative in itself. The sentiment is neutral.

Risks

• The sales by a key executive could be perceived negatively by the market, although they were pre-planned.
• The market may react to the sales, even though they are part of a pre-arranged trading plan.

Industry Context

This is a routine filing related to insider trading activity, which is common for executives of publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, such as those at Salesforce, Adobe, and Shopify, to manage their stock sales and avoid insider trading accusations.
• The reported transactions are similar to those seen in other Form 4 filings from executives at comparable tech companies.
• The price range of $40.00 to $40.15 per share is within the typical trading range for a company like Klaviyo.

Stakeholder Impact

• The stock sales by the CFO may have a minor impact on shareholder sentiment, but the pre-planned nature of the transactions should mitigate any significant negative reaction.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Klaviyo, insider trading, Form 4, stock sale, Amanda Whalen, 10b5-1 plan, executive compensation, Series A Common Stock, Series B Common Stock, CFO