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

Allen Chaves, Klaviyo's Chief Technology Officer, reports the conversion and disposal of Series A and B Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• On August 15, 2024, Allen Chaves, the Chief Technology Officer of Klaviyo, Inc., engaged in transactions involving the company's stock.
• 13,161 shares of Series B Common Stock were automatically converted into Series A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
• Additionally, 13,161 shares of Series A Common Stock were withheld by the issuer to satisfy tax obligations related to the vesting and settlement of RSUs at a price of $31.83.
• Following these transactions, Chaves beneficially owns 226,314 shares, consisting of 145,470 shares of Series B Common Stock and 80,844 unvested RSUs.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency into the transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
• Similar filings are made by executives at companies like Adobe, Salesforce, and Shopify, reflecting stock transactions related to compensation and tax obligations.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily relate to tax obligations of a company executive.
• The filing provides transparency to shareholders regarding insider transactions.

Key Dates