Form 4: Nextdoor Director David Sze Reports Significant Share Acquisition and New RSU Grant

Nextdoor Holdings, Inc. Director David Sze reported the acquisition of 68,627 Class A Common Stock shares through RSU vesting and a new grant of 106,707 Restricted Stock Units.

Summary

• David Sze, a Director of Nextdoor Holdings, Inc. (KIND), reported transactions on June 10, 2025.
• He acquired 68,627 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) at a price of $0 per share.
• Following this transaction, David Sze directly beneficially owns 68,627 shares of Class A Common Stock.
• Additionally, he indirectly beneficially owns 10,917,514 shares through Greylock 16 Limited Partnership, 388,179 shares through Greylock 16-A Limited Partnership, and 824,879 shares through Greylock 16 Principals Limited Partnership, totaling 12,130,572 indirect shares.
• A new grant of 106,707 Restricted Stock Units (RSUs) was also reported, which will vest on the earlier of the 2026 annual meeting or June 10, 2026, subject to continued service.
• The previously vested 68,627 RSU award vested on the earlier of the 2025 annual meeting or June 18, 2025.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates a director's continued equity ownership and commitment to the company through RSU vesting and a new grant, which aligns insider interests with shareholder value. It's a routine transaction, so not highly impactful, but generally viewed favorably.

Positives

• The acquisition of 68,627 shares by a director through RSU vesting indicates continued alignment of management's interests with shareholders.
• The grant of new RSUs to a director suggests ongoing commitment and retention of key personnel.

Risks

• The value of the acquired shares and future RSU grants is subject to the market price fluctuations of Nextdoor's Class A Common Stock.

Future Outlook

The document indicates future vesting of 106,707 Restricted Stock Units for David Sze, contingent on his continued service to Nextdoor Holdings, Inc. through the earlier of the 2026 annual meeting or June 10, 2026.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions, common across all publicly traded companies. It reflects a director's compensation structure involving equity awards, which is a standard practice in the technology and social networking industry to align executive incentives with company performance.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a common practice across publicly traded companies, particularly in the technology sector, aligning with compensation strategies seen at companies like Meta Platforms (META) or Snap Inc. (SNAP).
• The vesting schedule, tied to continued service and annual meetings, is typical for such equity awards, similar to those observed in compensation packages for directors at comparable social media or community platform companies.

Related Party Transactions

• David Sze's indirect beneficial ownership of 12,130,572 shares is through Greylock 16 Limited Partnership, Greylock 16-A Limited Partnership, and Greylock 16 Principals Limited Partnership. He is a managing member of Greylock 16 GP LLC, the general partner of these funds, and may be deemed to share voting and dispositive power, though he disclaims beneficial ownership except to the extent of any pecuniary interest.

Stakeholder Impact

• Shareholders: The increase in direct beneficial ownership by a director through RSU vesting can be seen as a positive signal of confidence in the company's future performance.
• Employees: The RSU grant to a director reflects a standard compensation practice that may also apply to other key employees, potentially impacting retention and motivation.

Next Steps

• The 106,707 RSU award is scheduled to vest on the earlier of the 2026 annual meeting of stockholders or June 10, 2026, subject to continued service.

Key Dates

Keywords

Nextdoor Holdings, KIND, David Sze, Form 4, SEC filing, insider transaction, Restricted Stock Units, RSU vesting, Class A Common Stock, director ownership, Greylock