Kiernan Michael 4/A

What Happened

• Kiernan Michael, Chief Revenue Officer of Nextdoor Holdings (NXDR), was granted two equity awards on March 5, 2026: 442,086 performance stock units (PSUs) and 442,086 restricted stock units (RSUs). Both grants are reported as awards (derivative transactions) at $0.00 per share and together represent 884,172 share equivalents.
• The PSUs are contingent on meeting performance targets and continued service; the RSUs are service‑based awards that vest over time. These awards are compensation grants, not open‑market purchases or sales.

Key Details

• Transaction date: March 5, 2026; filing date (amendment): March 20, 2026. This filing is an amended Form 4 correcting the PSU performance period and expiration.
• Reported amounts/prices: 442,086 PSUs @ $0.00; 442,086 RSUs @ $0.00 (total 884,172 share equivalents).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • PSUs (F1–F3): Contingent on achievement of four escalating stock‑price performance targets during the performance period (Mar 5, 2026–Jan 15, 2030). Vesting is annual in four installments (first possible vesting Jan 15, 2027). Payout can be 0%–200% of target; if performance = 0% the PSUs expire on Jan 15, 2030.
  • RSUs (F4–F6): Service‑based, vest in 16 quarterly installments over four years (first vesting Apr 15, 2026). These RSUs do not expire prior to vesting.
• Amendment note: The Form 4 was amended to correct the beginning of the PSU performance period and the PSU expiration date; this amendment supersedes prior versions.

Context

• These are grant awards (code A) — PSUs are performance‑contingent and may never convert to shares if targets aren’t met; RSUs convert to shares only as they vest with continued service. Neither award represents an immediate sale or purchase of vested shares.
• Such grants are common executive compensation and should be viewed as part of pay structure rather than a direct signal of insider buying or selling.