Nextdoor (KIND) insider update: 60.9K shares vested to Director Steele

Rhea-AI Filing Summary

Form 4 filing overview – Nextdoor Holdings, Inc. (KIND)

Director Elisa Steele reported the first vesting tranche of a restricted stock-unit (RSU) grant on 07/03/2025. The vesting converted 60,976 RSUs into an equal number of Class A common shares at a price of $0 (Code M – derivative conversion). Following the transaction, Steele now directly owns 69,994 Class A shares and retains 60,975 unvested RSUs.

The filing also corrects the original award schedule disclosed on 07/30/2024: the RSU grant vests 50% on 07/03/2025 and the remaining 50% on 07/03/2026, contingent on continued service. No open-market purchases or sales were reported.

• Transaction type: automatic RSU conversion (not open-market)
• Cost basis: $0; no cash exchanged
• Remaining derivative holdings: 60,975 RSUs

The event is administrative in nature and does not directly affect Nextdoor’s operations or financial results, but it modestly increases insider equity alignment.

Positive

• Director Elisa Steele acquired 60,976 Class A shares, increasing direct ownership to 69,994 shares and enhancing insider-equity alignment.

Negative

• Shares were obtained via automatic RSU vesting at $0 cost, so the filing offers limited insight into insider sentiment or market valuation.

Insights

Corporate Governance Expert

TL;DR: Routine RSU vesting raises Steele’s stake; limited governance impact.

The filing documents a scheduled RSU vesting, boosting Director Steele’s direct ownership to 69,994 shares while leaving 60,975 RSUs to vest in 2026. Because the shares were obtained at no cost under a pre-arranged grant, the transaction does not reflect an active investment decision. However, increased ownership can enhance board-shareholder alignment and signals long-term commitment. The correction of the vesting timetable ensures accurate future disclosures and mitigates potential reporting risk. Overall impact on governance perception: neutral to slightly positive.

Portfolio Manager

TL;DR: Administrative insider filing; negligible valuation impact.

From a portfolio-impact perspective, the event is non-dilutive and does not change KIND’s float, cash position, or fundamentals. Code M conversions are expected as equity awards mature, and the $0 exercise price confirms no cash outlay. There is no buy/sell signal because the director neither added capital nor reduced exposure. Liquidity effects are immaterial given the modest share count relative to KIND’s average daily volume. I classify this as not impactful for valuation models or trading strategy.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Steele Elisa

(Last) (First) (Middle)

420 TAYLOR STREET

(Street)

SAN FRANCISCO CA 94102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Nextdoor Holdings, Inc. [ KIND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/03/2025		M		60,976	A	$0	69,994	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units (RSU)	(1)	07/03/2025		M			60,976	(2)	(3)	Class A Common Stock	60,976	$0	60,975	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock.

2. The RSU award vests with respect to 1/2 of the shares subject to the RSU award on July 3, 2025 and with respect to the remaining 1/2 of the shares subject to the RSU award on July 3, 2026, in each case, subject to the reporting person's continued service to the Issuer through each such date.

3. These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.

Remarks:

On July 30, 2024, a Form 4 was filed to report the original grant of this award to the reporting person, which mistakenly reported that the grant vested as to 1/2 of the shares subject to the RSU award on each of 5/1/2025 and 5/1/2026. The Form 4 filed hereby, in addition to reporting the first vesting event, includes the corrected vesting schedule set forth in footnote 2 above.

	/s/ Sophia Contreras Schwartz, as Attorney-in-Fact for Reporting Person	07/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

How many KIND shares did Director Elisa Steele acquire?

She acquired 60,976 Class A shares through RSU vesting on 07/03/2025.

What is Elisa Steele's total KIND shareholding after the transaction?

Her direct beneficial ownership stands at 69,994 shares.

How many RSUs remain unvested for Elisa Steele at Nextdoor?

There are 60,975 RSUs remaining, scheduled to vest on 07/03/2026.

Was this an open-market purchase of KIND stock?

No. The shares resulted from a Code M conversion (RSU vesting) at a $0 exercise price.

Why was the Form 4 amended compared with the 07/30/2024 filing?

The current filing corrects the vesting schedule, clarifying 50% vesting on 07/03/2025 and 50% on 07/03/2026.