Bialecki Andrew 4

What Happened
Andrew Bialecki, CEO of Klaviyo, converted Series B common stock into Series A shares and sold 200,000 shares in an open-market transaction on April 7, 2026. The sale was a weighted-average $18.63 per share for proceeds of approximately $3,726,000. The filing also reports conversion entries (derivative conversions) of 200,000 shares (no cash proceeds) related to the issuer’s Series B → Series A conversion provision.

Key Details

• Transaction date(s): April 7, 2026; Form 4 filed April 9, 2026 (period of report Apr 7, 2026). No late filing flag indicated in the filing provided.
• Open-market sale: 200,000 shares at a weighted-average price of $18.63, total ≈ $3,726,000; prices in the sale range from $18.31 to $18.94 (per footnote).
• Derivative conversions: Two conversion entries for 200,000 shares each — one reported as an acquisition via conversion, one as a disposition at $0 (reflecting conversion mechanics of Series B to Series A).
• 10b5-1 plan: The sale was effected under a Rule 10b5-1 trading plan adopted by Bialecki on May 20, 2025 (footnote).
• Ownership after transaction: Total shares owned after these transactions are not specified in the provided Form 4.
• Trust holdings: Footnotes note shares held in various Bialecki family trusts; the reporting person disclaims beneficial ownership of those trust shares except to the extent of any pecuniary interest.

Context
Derivative conversion here refers to converting Series B common stock into Series A common stock (per the issuer’s charter); such conversions often show $0 consideration because they are structural conversions rather than cash transactions. The reported sale was through an arranged trading plan (10b5-1), which is commonly used to execute preplanned trades and does not necessarily indicate a change in insider outlook.