Galvin Carmel 4

What Happened

• Galvin Carmel, Klaviyo's Chief People Officer, received equity awards on 2026-04-15 consisting of 189,393 restricted stock units (RSUs) and 162,337 performance stock units (PSUs). The awards were granted at $0.00 (code A — award/grant); no cash changed hands. Total awarded = 351,730 units.

Key Details

• Transaction date: 2026-04-15; Form 4 filed 2026-04-17 (appears timely).
• Price: $0.00 per unit (award).
• Holdings after transaction (per filing): 130,487 shares of Series A Common Stock; 675,716 unvested RSUs; and 162,337 unvested PSUs.
• RSU vesting (summary of footnote F1): 50% of the RSUs vest in eight equal quarterly installments (first installment May 15, 2026); the remaining 50% vest in four equal quarterly installments thereafter, subject to continued service.
• PSU vesting (summary of footnotes F2–F3): PSUs vest in up to three tranches over a two-year measurement period based on achievement of stock-price performance targets and continued service. Price hurdles for tranches 1–3 are $30, $50 and $75 (average closing price for at least 60 consecutive days), with proportionate adjustment for stock splits.
• Transaction type: Award/compensation — not a purchase or sale.

Context

• These awards are compensation-related grants. RSUs convert to shares only as they vest; PSUs only convert if performance targets and service conditions are met. Such grants are common for executive retention and do not by themselves signal immediate buying or selling in the market.