Form 4: Klaviyo Executive Landon Edmond Reports Stock Transactions

Chief Legal Officer Landon Edmond reports stock transactions including conversion of Series B Common Stock, tax withholding, and sales under a 10b5-1 trading plan.

Summary

• Landon Edmond, Chief Legal Officer of Klaviyo, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On May 15, 2025, 11,426 shares of Series B Common Stock were converted to Series A Common Stock to cover tax obligations related to vesting RSUs.
• An additional 11,074 shares of Series B Common Stock were converted to Series A Common Stock.
• The company withheld 24,694 shares of Series A Common Stock to satisfy tax obligations related to vesting RSUs at $34.9 per share.
• On May 16, 2025, Edmond sold 9,965 shares of Series A Common Stock at a weighted average price of $34.85 per share.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 16, 2024.
• Following these transactions, Edmond directly owns 404,744 shares of Series A Common Stock, including 304,913 unvested RSUs under the 2023 plan and 67,500 unvested RSUs under the 2015 plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to tax obligations and a pre-planned trading strategy. There's no indication of significant positive or negative implications for the company.

Industry Context

Form 4 filings are standard practice for reporting insider transactions, providing transparency to investors regarding the buying and selling activities of company executives and directors. This filing indicates activity related to tax obligations and pre-planned stock sales.

Comparison to Industry Standards

• Similar to other publicly traded companies, Klaviyo requires its executives to disclose their stock transactions through Form 4 filings.
• The use of Rule 10b5-1 trading plans is a common practice among executives to avoid accusations of insider trading, aligning with industry standards for compliance and ethical conduct.
• The reported transactions are typical for executives holding RSUs, which often trigger tax obligations upon vesting, leading to stock sales or withholding to cover these liabilities.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares by an executive, but the pre-planned nature of the sales mitigates concerns about insider trading.
• Employees holding RSUs may be interested in the details of tax withholding and stock conversion processes.

Key Dates

Keywords

Form 4, Klaviyo, Landon Edmond, Series A Common Stock, Series B Common Stock, Rule 10b5-1, RSUs, Beneficial Ownership, Tax Withholding, Stock Sale