Schwartz Sophia 4
4 · Nextdoor Holdings, Inc. · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Nextdoor (NXDR) — Sophia Schwartz, General Counsel & Secretary, Receives Equity Awards
What Happened
Sophia Schwartz, General Counsel and Secretary of Nextdoor Holdings (NXDR), was granted two equity awards on 2026-03-05: 471,559 performance stock units (PSUs) and 471,559 restricted stock units (RSUs). Both grants are reported as derivative acquisitions at $0 (i.e., compensation awards, not cash purchases). At the baseline (100% performance), the two awards together represent 943,118 potential shares; the PSU award may pay between 0% and 200% of the stated PSU amount depending on performance.
Key Details
- Transaction date: 2026-03-05; Form 4 filed 2026-03-09 (timely based on reporting rules).
- Price: $0.00 — these are compensation grants (derivative securities), not open-market buys or sales.
- PSU specifics (footnotes F1–F3): 471,559 PSUs; performance period Jan 15, 2027 – Jan 15, 2030; vesting annually in four installments on Jan 15 (first possible vesting Jan 15, 2027); payout may range from 0%–200% of the stated amount; if performance = 0%, PSUs expire/forfeit on Jan 15, 2030.
- RSU specifics (footnotes F4–F6): 471,559 RSUs; service-based vesting in 16 equal quarterly installments (Apr, Jul, Oct, Jan 15th) beginning Apr 15, 2026; RSUs do not expire (they vest or are cancelled).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Filing timeliness: Form 4 was filed on 2026-03-09 for a 2026-03-05 grant (within the standard two-business-day reporting window).
Context
These grants are compensation/retention awards rather than purchases or sales; they do not represent immediate share ownership or a direct cash investment by the insider. PSUs are performance-contingent (can pay more or less than the stated amount), while RSUs vest based on continued service. For retail investors, awards are informative about executive compensation and retention incentives but are not the same signal as an open-market insider purchase.
Insider Transaction Report
- Award
Performance Stock Units (PSU)
[F1][F2][F3]2026-03-05+471,559→ 471,559 totalExp: 2023-01-15→ Class A Common Stock (471,559 underlying) - Award
Restricted Stock Units (RSU)
[F4][F5][F6]2026-03-05+471,559→ 471,559 total→ Class A Common Stock (471,559 underlying)
Footnotes (6)
- [F1]The performance stock units ("PSUs") represent a contingent right to receive shares of the Issuer's Class A Common Stock, subject to the achievement of applicable performance criteria and the reporting person's continued service to the Issuer through the later of: (i) the date such achievement is certified. or (ii) the scheduled vesting date. The number of shares that will vest, if any, is contingent on achievement of the relevant Performance Targets (defined below), with the potential for the reporting person to earn a number of shares between 0% and 200% of the numbers reflected in the row above. The grant details reported in the row above represent the number of shares that may vest and be earned based on achievement of all Performance Targets at 100%.
- [F2]The PSU award is subject to a service-based vesting schedule and performance criteria relating to the achievement of four escalating stock price targets (the "Performance Targets") during a performance period beginning on January 15, 2027 and ending January 15, 2030 (the "Performance Period"). Subject to achievement of the relevant Performance Target and the Reporting Person's continued service to the Issuer through the applicable vesting date, the award shall vest annually in four installments on the 15th calendar day of January, with the first tranche capable of vesting on January 15, 2027.
- [F3]To the extent the relevant performance criteria are not achieved (i.e., achieved at 0%), the PSUs comprising this award will expire and be forfeited on January 15, 2030.
- [F4]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject only to continued service to the Issuer, as described in footnote 5 below.
- [F5]The RSU award vests in sixteen ratable quarterly installments over four years on the 15th calendar day of April, July, October and January, with the first such vesting event on April 15, 2026, subject to the reporting person's continued service to the Issuer on each vesting date.
- [F6]These RSUs do not expire; they either vest or are cancelled prior to the vesting date.