Form 4: Summit Partners Sells 67,436 Shares of Klaviyo (KVYO) Stock

Summit Partners L.P., a significant shareholder of Klaviyo, Inc. (KVYO), reported the sale of 67,436 shares of Series B Common Stock, which were automatically converted into Series A Common Stock upon the sale.

Summary

• On August 27, 2024, Summit Partners L.P. sold 67,436 shares of Klaviyo, Inc.'s Series B Common Stock.
• The sale resulted in an automatic conversion of these shares into Series A Common Stock.
• The price per share for the sale was $32.29.
• The shares were sold by several entities affiliated with Summit Partners, including Summit Partners Growth Equity Fund IX-A, L.P., Summit Partners Growth Equity Fund IX-B, L.P., Summit Partners Co-Invest (Kiwi), L.P., Summit Investors GE IX/VC IV, LLC, and Summit Investors GE IX/VC IV (UK), L.P.
• Following the transaction, Summit Partners and its affiliates continue to beneficially own a significant number of Series B Common Stock shares, totaling 46,703,201 shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock sale. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about a transaction.

Industry Context

This filing reflects the ongoing trading activity of major shareholders in publicly listed companies. Such transactions are common and provide insights into investor sentiment and portfolio management strategies.

Stakeholder Impact

• The sale of shares by a major shareholder like Summit Partners could potentially influence the market perception of Klaviyo, although the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates