Schwartz Sophia 4/A

What Happened

• Sophia Schwartz, General Counsel and Secretary of Nextdoor Holdings (NXDR), received two equity awards on March 5, 2026: 471,559 performance stock units (PSUs) and 471,559 restricted stock units (RSUs). Each award is reported at $0.00 per share (a grant/award, not a purchase).
• The PSUs are contingent on meeting escalating stock‑price performance targets and continued service; they may vest between 0% and 200% of the stated amount depending on performance. The RSUs are service‑based and vest on a fixed schedule.

Key Details

• Transaction date: March 5, 2026 (reported on an amended Form 4 filed March 20, 2026 that corrects the performance period and PSU expiration).
• Award amounts: 471,559 PSUs and 471,559 RSUs (total reported units: 943,118). Price: $0.00 (award/grant).
• PSU terms: Performance period March 5, 2026 – January 15, 2030; vesting annually in four installments on January 15 (first vesting possible Jan 15, 2027); payout 0–200% based on achievement; PSUs expire/forfeit Jan 15, 2030 if performance = 0% (as amended).
• RSU terms: Vest in 16 equal quarterly installments over four years (April, July, October, January), beginning April 15, 2026; RSUs do not expire prior to vesting.
• Shares owned after the transaction: not reported in the provided filing details.
• Filing status: This is an amended Form 4 correcting the beginning of the PSU performance period and the PSU expiration date; the filing date (Mar 20) is later than the transaction date (Mar 5).

Context

• These are derivative/award grants (code A) — not open‑market purchases or sales — so they reflect compensation/retention arrangements rather than direct market bets by the insider.
• PSUs are performance‑contingent: actual shares received could be higher or lower (0–200%) depending on achievement of the stated performance targets.