Klarna Group (KLAR) director Phillips details initial share and option stakes
Rhea-AI Filing Summary
Klarna Group plc director Reed Andrew Phillips has filed a Form 3 reporting his initial beneficial ownership in the company. He holds Klarna options linked to 91,352 ordinary shares with a $40.0000 exercise price, expiring on March 11, 2031, which vest in four equal annual installments from the first grant anniversary.
Phillips is also associated with substantial indirect holdings of ordinary shares through various Sequoia Capital funds, including 32,644,255 shares held by Sequoia Capital GFIV Sweden, L.P. and 6,130,908 shares held by Sequoia Capital Global Growth Fund III - Endurance Partners, L.P. He disclaims beneficial ownership of these fund-held securities except to the extent of his pecuniary interest. Related Sequoia funds also beneficially own corresponding Class B shares that carry 10 votes per share but are non-transferable and automatically convert into non-voting deferred shares in specified circumstances.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Klarna Group plc Options | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Footnotes (1)
- The Reporting Person is a director and stockholder of SC US (TTGP), Ltd. SC US (TTGP), Ltd. is (i) the general partner of SCGF IV Management, L.P., which is the general partner of Sequoia Capital GF IV Sweden, L.P. and Sequoia Capital US Growth Fund IV, L.P. (collectively the GFIV Funds), (ii) the general partner of SCGGF Management, L.P., which is the general partner of Sequoia Capital Global Growth Fund, L.P. and Sequoia Capital Global Growth Principals Fund, L.P. (collectively the GGF Funds), (iii) the general partner of SC Global Growth II Management, L.P., which is the general partner of Sequoia Capital Global Growth Fund II, L.P. and Sequoia Capital Global Growth II Principals Fund, L.P. (collectively the GGFII Funds), (iv) the general partner of SCGGFIII - Endurance Partners Management, L.P., which is the general partner of Sequoia Capital Global Growth Fund III - Endurance Partners, L.P. (GGFIII), (continued from Footnote 1) and (v) the general partner of SC US/E Expansion Fund I Management, L.P., which is the general partner of Sequoia Capital US/E Expansion Fund I, L.P. (EXP I). The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of the securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes. In addition to the ordinary shares reported in this Form 3, the GFIV Funds, the GGF Funds, the GGFII Funds, GGFIII, and EXP I beneficially own a number of the Issuer's Class B shares equal to the number of ordinary shares so reported. Each Class B share is entitled to 10 votes per share. Class B shares are not transferable and are not exchangeable for or convertible into ordinary shares. Following certain transfers of interests in ordinary shares by holders of Class B shares or their affiliates, an equivalent number of Class B shares will automatically convert into deferred shares, which have no voting rights, are non-transferable and have no economic value. In addition, the Class B shares automatically convert into deferred shares in certain other circumstances as specified in the Issuer's organizational documents. Represents an option to acquire ordinary shares that vest in four equal annual installments starting from the first anniversary of the grant date.
