Form 4: Nextdoor CFO Matthew Anderson Receives Large Restricted Stock Unit Award

Nextdoor CFO and Treasurer Matthew Anderson was granted 952,381 Restricted Stock Units (RSUs) on July 4, 2024, vesting quarterly over two years starting April 15, 2025.

Summary

• On July 4, 2024, Matthew S. Anderson, CFO and Treasurer of Nextdoor Holdings, Inc., received a grant of 952,381 Restricted Stock Units (RSUs).
• These RSUs represent a contingent right to receive one share of Nextdoor's Class A Common Stock per unit.
• The RSUs vest in equal quarterly installments over two years, beginning on April 15, 2025, and continuing on January 15, April 15, July 15, and October 15 of each calendar year.
• Vesting is contingent upon Anderson's continued service to Nextdoor on each vesting date.
• The RSUs do not expire but will either vest and settle or be canceled before the vesting date.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it incentivizes key personnel.

Positives

• The RSU grant aligns the CFO's interests with the long-term performance of Nextdoor.
• The vesting schedule encourages continued service and commitment from the CFO.

Risks

• The value of the RSUs is dependent on the future stock price of Nextdoor, which is subject to market fluctuations.
• If Anderson leaves Nextdoor before the RSUs fully vest, he will forfeit the unvested portion.

Future Outlook

The RSU award is designed to incentivize the CFO to contribute to the future success of Nextdoor over the next two years.

Industry Context

Equity compensation, such as RSU grants, is a common practice in the technology industry to attract and retain key executives.

Comparison to Industry Standards

• RSU grants are a standard form of compensation for executives in publicly traded companies, particularly in the tech sector.
• Companies like Meta, Alphabet, and Amazon also use RSUs extensively as part of their executive compensation packages.
• The size of the grant is relative to the company's market capitalization and the executive's role and responsibilities.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns management's interests with the company's long-term success.
• Employees may see the grant as a sign of confidence in the company's future.

Key Dates