Form 4: Klaviyo Chief Legal Officer Executes Stock Transactions Under 10b5-1 Plan

Klaviyo's Chief Legal Officer, Landon Edmond, engaged in multiple stock transactions, including conversions, acquisitions, and sales of Series A and B common stock, under a pre-arranged 10b5-1 trading plan.

Summary

• Landon Edmond, Chief Legal Officer of Klaviyo, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• The transactions included the conversion of 16,666 shares of Series B Common Stock to Series A Common Stock on November 15, 2024, and another 40,000 shares on November 18, 2024.
• A total of 25,788 shares of Series A Common Stock were disposed of on November 15, 2024, to cover tax obligations related to vesting RSUs.
• Additionally, 40,000 shares of Series A Common Stock were sold on November 18, 2024, at a weighted average price of $34.56 per share, with prices ranging from $34.13 to $34.99.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on August 16, 2024.
• Following these transactions, Edmond directly owns 236,621 shares of Series A Common Stock and 199,486 shares of Series B Common Stock, along with unvested RSUs.

Sentiment

Score: 5

Explanation: The document reflects routine insider trading activity under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

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

Comparison to Industry Standards

• The transactions are typical for executives of publicly traded companies, especially those with equity-based compensation.
• The use of a 10b5-1 trading plan is a common practice among executives to manage their stock sales in a compliant manner.
• Similar filings are regularly made by executives at comparable tech companies such as HubSpot, Shopify, and Salesforce, reflecting their stock transactions.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on stakeholders, as they are part of a pre-arranged trading plan and do not indicate any change in the company's fundamentals.

Key Dates

Keywords

Form 4, insider trading, beneficial ownership, Rule 10b5-1, stock transactions, Klaviyo, KVYO, Landon Edmond, Series A Common Stock, Series B Common Stock, restricted stock units, RSUs