Form 4: Klaviyo's Chief Technology Officer, Allen Chaves, Reports Stock Transactions

Allen Chaves, Chief Technology Officer of Klaviyo, Inc., reports the conversion and subsequent withholding of shares to cover tax obligations related to vested restricted stock units.

Summary

• On May 15, 2024, Allen Chaves, the Chief Technology Officer of Klaviyo, Inc., engaged in transactions involving the company's stock.
• 12,004 shares of Series B Common Stock were automatically converted into Series A Common Stock.
• These Series A Common Stock shares were then withheld by Klaviyo to satisfy tax obligations related to the vesting and settlement of restricted stock units (RSUs).
• The price per share for the withholding was $24.8.
• Following these transactions, Chaves beneficially owns 98,679 shares of Series B Common Stock and 108,063 unvested RSUs.

Sentiment

Score: 7

Explanation: The document reflects routine stock transactions related to executive compensation and tax obligations, which are neutral events from an investment perspective. The transactions are expected and do not indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their beneficial ownership of company stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they relate to internal stock management for tax purposes.

Key Dates