Klaviyo (KVYO) 10% Owner Shopify Exercises Warrants for 344,383 Shares

What Happened

• Shopify Strategic Holdings 3 LLC (a 10% owner via Shopify Inc.) exercised in‑the‑money derivative warrants to acquire 344,383 shares of Klaviyo common stock on August 31, 2026. The exercise price was $0.01 per share, for a total cash payment of $3,444. The filing also records the disposition of the corresponding derivative instrument (the warrant) as part of the exercise.

Key Details

• Transaction date: 2026-08-31. Transaction code: X (exercise of in‑the‑money derivative).
• Shares acquired: 344,383 at $0.01 each; total cash paid: $3,444.
• Simultaneous disposition: 344,383 shares listed as disposed as the derivative was converted/exercised (record reflects conversion of the warrant).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: 25% of the shares subject to the warrants vested at IPO and the remainder vests quarterly through July 28, 2027.
  • F2: Shopify Strategic Holdings 3 LLC is a wholly‑owned subsidiary of Shopify Inc.; Shopify disclaims beneficial ownership except for pecuniary interest.
  • F3: Series B common stock held by the issuer is convertible into Series A common stock under certain conditions.
• Filing timeliness: Reported for the period 2026-08-31 and filed 2026-08-31 (appears timely).

Context

• This was an exercise of warrants (derivative instruments) to acquire stock — not an open‑market purchase or sale of shares. The derivative instrument was surrendered/converted in the exercise. As a 10% institutional holder (via a Shopify subsidiary), this activity reflects a scheduled exercise under vesting/contract terms rather than a direct executive trading signal.