Form 4: Klaviyo Chief People Officer Sells Shares to Cover Tax Obligations

Klaviyo's Chief People Officer, Carmel Galvin, sold 41,772 shares of Series A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Carmel Galvin, the Chief People Officer of Klaviyo, Inc., sold 41,772 shares of Series A Common Stock on November 15, 2024.
• The sale was executed at a price of $35.16 per share.
• This transaction was to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
• Following the transaction, Ms. Galvin beneficially owns 649,372 shares of Series A Common Stock.
• This total includes 44,621 shares of Series A Common Stock and 604,751 unvested RSUs.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when RSUs vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, particularly when dealing with vesting of stock options or restricted stock units.
• The sale of shares to cover tax obligations is a standard practice and does not necessarily indicate a change in the executive's outlook on the company's future.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Klaviyo, insider trading, Form 4, stock sale, restricted stock units, tax obligations, Carmel Galvin, Chief People Officer, Series A Common Stock