Ponnambalam Indrajit 4

What Happened
Indrajit Ponnambalam, Nextdoor’s Chief Financial Officer and Treasurer, was granted 1,554,806 performance stock units (PSUs) on March 5, 2026. The grant is reported as a derivative award at $0.00 per unit (no cash paid). These PSUs are not immediate shares — they are contingent rights to receive Class A common stock in the future if specified performance and service conditions are met.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely filing).
• Transaction type/code: A (Award/Grant, derivative).
• Amount: 1,554,806 PSUs granted; reported at $0.00 per unit.
• Shares owned after transaction: not disclosed in this filing.
• Notable footnotes:
  • The PSUs are contingent on achievement of performance targets and continued service (F1).
  • Vesting is subject to four escalating stock-price Performance Targets over a performance period from Jan 15, 2027 to Jan 15, 2030, and, subject to achievement and service, vests annually in four installments on January 15 (first tranche may vest Jan 15, 2027) (F2).
  • Payout can range from 0% to 200% of the listed amount depending on performance; if performance criteria are not met, the award can expire and be forfeited on Jan 15, 2030 (F1, F3).

Context
PSUs are a common long-term incentive used by companies to align executives with future stock performance; they do not represent immediate ownership and their value depends on future performance and continued employment. This grant is an award (not a purchase or sale) and should be viewed as compensation-related rather than a direct market bet by the officer.