Ponnambalam Indrajit 4/A

What Happened

• Indrajit Ponnambalam, Chief Financial Officer and Treasurer of Nextdoor Holdings, was granted 1,554,806 performance stock units (PSUs) on March 5, 2026. The award is reported at $0.00 per unit (no cash paid); it is a derivative, contingent award that may convert to shares if performance and service conditions are met.

Key Details

• Transaction date: March 5, 2026; Form 4 filed (amended) March 20, 2026 to correct the performance period.
• Grant: 1,554,806 PSUs, reported as an acquisition (derivative) at $0.00.
• Vesting/Performance: Performance period begins March 5, 2026 and ends January 15, 2030. Vesting is subject to four escalating stock-price Performance Targets and continued service; award vests annually in four installments on January 15 (first possible vesting Jan 15, 2027).
• Payout range: Each PSU may pay out between 0% and 200% of the target units depending on performance; the reported amount reflects 100% achievement.
• Forfeiture: If performance is achieved at 0%, the PSUs expire and are forfeited on January 15, 2030.
• Shares owned after transaction: not specified in the filing.
• Filing status: This is an amended Form 4 that corrects the start of the performance period.

Context

• These PSUs are a compensation/retention award, not an immediate stock purchase or sale. They only become shares if performance targets and service conditions are met, so they do not represent an immediately tradable stake.
• Such awards are common for executives to align pay with long-term stock performance; they do not by themselves signal a short-term buy or sell decision.