Form 4: Nextdoor CEO Nirav Tolia Reports Stock Option Exercise and Conversion
SEC Form 4 Filing
Nirav Tolia, CEO and President of Nextdoor Holdings, Inc., reports exercising stock options and converting Class B Common Stock to Class A Common Stock.
Summary
- Nirav N. Tolia, CEO and President of Nextdoor Holdings, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On October 28, 2024, Tolia exercised stock options to acquire 4,901,076 shares of Class B Common Stock, which were then converted into Class A Common Stock.
- The exercise price of the stock options was $0.9.
- The conversion of Class B Common Stock to Class A Common Stock occurred at a 1:1 ratio.
- Following the transaction, Tolia directly owns 26,061,396 shares of Class A Common Stock and indirectly owns shares through various family trusts.
- A portion of Class B Common Stock was disposed of for $2.44 per share.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock option exercises and conversions, with no inherently positive or negative implications.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.
Key Dates
| Date | Description |
|---|---|
| March 13, 2014 | Date of the Tolia Family Children's Trust. |
| June 30, 2008 | Date of the Tolia Family Trust. |
| November 5, 2021 | Date of the consummation of the Issuer's business combination. |
| October 28, 2024 | Date of the stock option exercise and conversion of Class B Common Stock to Class A Common Stock. |
| October 29, 2024 | Date of Class B Common Stock underlying stock option. |
| October 30, 2024 | Date of signature on the Form 4 filing. |
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