Varelas Christopher 4

What Happened
Christopher Varelas, a director of Nextdoor Holdings, reported on June 9, 2026 that he exercised/converted 106,707 derivative instruments (code M) at $0.00 per share and a matching disposition of 106,707 derivative units was reported (code M). He also received a grant/award of 85,365 restricted stock units (RSUs) (code A) at $0.00 per RSU. The transactions show no cash paid or received in the filing.

Key Details

• Transaction date: June 9, 2026; Form 4 filed June 11, 2026 (timely filing).
• Exercise/conversion (M): 106,707 shares acquired @ $0.00; matching 106,707 derivative disposed @ $0.00.
• Award/grant (A): 85,365 RSUs acquired @ $0.00. Each RSU equals one contingent share (Footnote F2).
• Vesting notes: one RSU award vested or vests on the earlier of the 2026 annual meeting or June 10, 2026 (F3); another award vests on the earlier of the 2027 annual meeting or June 9, 2027 (F5). RSUs do not expire (F4).
• Holdings: the filing states these securities are held for the benefit of entities affiliated with Riverwood Capital and that Mr. Varelas disclaims beneficial ownership except for any pecuniary interest (F1).
• Shares owned after the reported transactions are not specified in the filing excerpt provided.

Context

• Code explanations: M = exercise or conversion of a derivative; A = grant/award. These were not open-market purchases or sales for cash; the exercise/conversion and awards were reported at $0 consideration.
• For retail investors: awards and derivative conversions often reflect contractual arrangements (vesting schedules, acquisition by affiliated entities) rather than an independent buy/sell decision by the insider. The Riverwood footnote indicates the reported securities are held for affiliated entities, which is institutional in nature rather than a personal trading decision.