Kiernan Michael 4

What Happened

• Michael Kiernan, Chief Revenue Officer of Nextdoor (NXDR), had RSUs vest and was recorded as exercising/converting 92,630 RSUs on July 15, 2026 (65,000 + 27,630). The RSUs converted into shares at a $0.00 exercise price (typical for RSU settlements).
• To satisfy tax withholding obligations, 28,146 shares were withheld at $2.52 per share ($70,928) and 11,964 shares were withheld at $2.52 per share ($30,149), for a total of 40,110 shares withheld and approximately $101,077 in withholding value. The filing also records the derivative cancellations associated with the conversions.

Key Details

• Transaction date: July 15, 2026; Form 4 filed July 17, 2026 (timely).
• Transactions reported:
  • Exercise/conversion (code M): 65,000 shares @ $0.00 acquired; 27,630 shares @ $0.00 acquired (total 92,630).
  • Tax/withholding (code F): 28,146 shares disposed @ $2.52 = $70,928; 11,964 shares disposed @ $2.52 = $30,149 (total withheld 40,110 shares, ~$101,077).
  • Derivative cancellations corresponding to the exercised RSUs were also recorded.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: RSUs represent contingent rights to one share (F1). Vesting occurs in equal quarterly installments on Jan 15, Apr 15, Jul 15 and Oct 15 per the award terms (F2, F4). RSUs do not expire and either vest or are cancelled (F3).
• No 10b5-1 plan or gift noted; this appears to be routine RSU vesting and tax withholding, not an open-market sale.

Context

• This was a standard RSU settlement with shares withheld to cover tax liabilities (cashless/withholding treatment), not an open-market sale. Withholding reduces the net number of shares issued to the insider rather than signaling an active disposition in the market.
• Such filings are routine for executives receiving equity compensation; they document vesting and tax payment mechanics rather than a deliberate buy or sell decision.