Klaviyo, Inc. 8-K

What Happened Klaviyo, Inc. (KVYO) filed an 8-K (July 13, 2026) announcing that the Board appointed Erica Smith as Chief Financial Officer and principal financial and accounting officer, effective upon her start date currently set for September 1, 2026. Ms. Smith (age 53) was most recently CFO of CyberArk Software Ltd. (Jan 2025–Feb 2026) and has held multiple finance and investor-relations roles at public technology and financial firms. Current CFO Amanda Whalen will remain in the role through the Effective Date; her employment ends September 4, 2026, after which she will serve as an advisor through November 16, 2026.

Key Details

• Employment agreement dated July 3, 2026: at-will, annual base salary of $550,000 and target annual cash bonus of 50% of base salary.
• Equity awards: $15,000,000 in time-based RSUs vesting in 16 quarterly installments (four years); $3,000,000 in PSUs tied to stock-price performance with measurement through Feb. 15, 2029.
• PSU price targets: average closing price thresholds of $30.00, $50.00 and $75.00 per share (each measured over at least 60 consecutive calendar days), subject to adjustment for stock splits.
• Severance and change-in-control protections: if terminated without cause or for good reason, Ms. Smith receives a lump-sum payment equal to base salary plus target bonus (currently $550,000 + $275,000 = $825,000) and health continuation; time-based awards vest on certain change-in-control-related terminations, and PSUs may vest if performance targets are met and timing/termination conditions are satisfied.
• No family relationships or reportable related-party transactions were disclosed; Ms. Smith signed Klaviyo’s standard indemnification agreement.

Why It Matters This 8-K signals a leadership change at Klaviyo’s finance function with a senior hire who brings recent public-company CFO experience. The compensation package is equity-heavy (RSUs + performance PSUs), aligning pay with stock performance and long-term retention. Investors should note the material severance and change-in-control provisions and the stock-price hurdles for PSU payout when assessing potential dilution and management incentives. The company furnished a press release on July 13, 2026 announcing the appointment.