Form 4: Klaviyo Director Tony Weisman Acquires Shares Through Stock Conversion

Klaviyo director Tony Weisman acquired 75,000 shares of Series A Common Stock and 20,833 shares of Series A Common Stock held in trust through the conversion of Series B Common Stock.

Summary

• Tony Weisman, a director at Klaviyo, Inc., has reported a transaction involving the conversion of Series B Common Stock into Series A Common Stock.
• On December 12, 2024, Mr. Weisman converted 75,000 shares of Series B Common Stock into 75,000 shares of Series A Common Stock.
• Additionally, 20,833 shares of Series B Common Stock held in trust were converted into 20,833 shares of Series A Common Stock.
• Following these transactions, Mr. Weisman directly owns 83,532 shares of Series A Common Stock, which includes 8,532 unvested restricted stock units, and indirectly owns 20,833 shares of Series A Common Stock through a trust.
• The Series B Common Stock converts into Series A Common Stock on a 1:1 basis and has no expiration date.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing a stock conversion, which is neither positive nor negative in itself. It reflects standard corporate activity.

Positives

• The conversion of Series B to Series A Common Stock simplifies the share structure for the director.
• The director's increased holdings in Series A Common Stock may indicate confidence in the company's future performance.

Industry Context

This is a standard SEC Form 4 filing, which is common for company directors and officers when they make transactions in their company's stock. It is a routine disclosure and does not indicate any specific industry trend.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• The conversion of preferred stock to common stock is a common event, especially in companies with multiple classes of shares.
• The reporting of both direct and indirect ownership is consistent with SEC regulations.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it is a conversion of existing shares and does not represent a new issuance or sale of shares.

Key Dates

Keywords

Klaviyo, stock conversion, Series A Common Stock, Series B Common Stock, beneficial ownership, director, insider trading, Form 4