Form 4: Klaviyo's Chief Legal Officer, Landon Edmond, Reports Changes in Beneficial Ownership

Landon Edmond, Chief Legal Officer of Klaviyo, Inc., reports transactions involving Series A and Series B Common Stock related to vesting and tax withholding obligations.

Summary

• On February 15, 2025, Landon Edmond, the Chief Legal Officer of Klaviyo, Inc., filed a Form 4 to report changes in beneficial ownership of the company's stock.
• The reported transactions involve the conversion of Series B Common Stock into Series A Common Stock, as well as the withholding of Series A Common Stock to cover tax obligations related to the vesting of restricted stock units (RSUs).
• Specifically, 3,914 shares of Series B Common Stock were converted into Series A Common Stock.
• Additionally, 13,054 shares of Series A Common Stock were withheld by the issuer to satisfy tax obligations at a price of $47 per share.
• Following these transactions, Edmond directly owns 289,467 shares of Series A Common Stock.
• This includes 92,086 shares of Series A Common Stock and 200,967 unvested RSUs under the 2023 Stock Option and Incentive Plan.
• Edmond also holds 90,000 unvested RSUs under the 2015 Stock Incentive Plan, representing the right to receive Series B Common Stock upon vesting.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing and does not inherently convey positive or negative sentiment. It simply reports transactions related to executive stock ownership.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, and is typical for publicly traded companies like Klaviyo.

Comparison to Industry Standards

• Executive compensation packages including RSUs are standard practice among publicly traded companies, particularly in the tech sector.
• The vesting schedules and tax withholding practices are generally aligned with industry norms.
• Comparable companies like HubSpot and Salesforce also utilize RSUs as part of their executive compensation plans.

Stakeholder Impact

• The transactions reported have a minimal direct impact on shareholders, as they primarily relate to internal stock conversions and tax obligations.
• Employees holding RSUs are indirectly affected by the vesting and settlement processes described in the filing.

Key Dates

Keywords

Form 4, beneficial ownership, Klaviyo, KVYO, Landon Edmond, Series A Common Stock, Series B Common Stock, RSUs, restricted stock units, tax withholding