Form 4: Summit Partners Sells 90,502 Shares of Klaviyo, Inc. (KVYO)

Summit Partners L.P. and affiliated entities sold 90,502 shares of Klaviyo, Inc. Series A Common Stock at $32.27 per share on August 26, 2024, resulting from the conversion of Series B Common Stock.

Summary

• On August 26, 2024, Summit Partners L.P., along with affiliated entities 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., sold 90,502 shares of Klaviyo, Inc.'s Series A Common Stock.
• The transaction was executed at a price of $32.27 per share.
• The sale was triggered by the conversion of Series B Common Stock into Series A Common Stock upon the direction of the reporting persons.
• Following the reported transaction, the entities still hold a significant amount of Series B Common Stock, totaling 46,770,637 shares, distributed among the various funds.
• The reporting entities disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.

Sentiment

Score: 5

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

Industry Context

This Form 4 filing indicates a change in the holdings of a major shareholder, Summit Partners, which is common in the investment landscape. Monitoring these filings provides insights into investor sentiment and potential future actions.

Stakeholder Impact

• The sale of shares by a major shareholder like Summit Partners could potentially influence investor perception and the stock price of Klaviyo, Inc.

Key Dates