[Form 4] Kaltura, Inc. Insider Trading Activity

Rhea-AI Filing Summary

John N. Doherty, Chief Financial Officer of Kaltura, Inc. (KLTR), reported the sale of 38,114 shares of Kaltura common stock on 09/03/2025 at a weighted average price of $1.49 per share. The filing states these shares were automatically sold to cover taxes and fees related to the settlement of restricted stock units. After the reported transaction, the reporting person beneficially owned 1,441,760 shares. The Form 4 was signed by an attorney-in-fact on 09/04/2025.

Positive

• Transparent disclosure of insider sale with transaction date, quantity, and weighted average price
• Sale flagged as automatic sell-to-cover for taxes and fees related to RSU settlement, indicating routine compensation handling
• Reporting person retains substantial ownership after the sale (1,441,760 shares)

Negative

• Insider disposition of 38,114 shares may be perceived negatively by some investors despite being a tax-related sale
• Weighted average sale price of $1.49 is low relative to many historical prices (range reported $1.47–$1.53), which could reflect current market valuation at time of sale

Insights

Financial Analyst

TL;DR: A routine RSU tax-withholding sale by the CFO; not clearly material to valuation given remaining ownership.

The Form 4 discloses a sale of 38,114 shares executed to satisfy tax and fee obligations on restricted stock unit settlement, at a weighted average price of $1.49. Such sell-to-cover transactions are common compensation-related events and the filing explicitly characterizes the sale as automatic for tax purposes. The reporting person retains a substantial post-transaction holding of 1,441,760 shares, indicating continued significant ownership. No derivative transactions or other compensatory grants are reported on this form.

Corporate Governance Expert

TL;DR: Disclosure is timely and standard; sale was executed under award terms to cover tax liabilities.

The Form 4 provides clear disclosure of the transaction date, quantity sold, and the weighted average price range ($1.47–$1.53). The footnote explains the shares were sold automatically to cover taxes and fees tied to RSU settlement, which is consistent with typical equity compensation practices. The filing is signed by an attorney-in-fact, and the reporting person remains a high-shareholder with 1,441,760 shares after the sale. No indications of unusual trading patterns or off-cycle dispositions are present in this document.

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^*

Doherty John N.

(Last) (First) (Middle)

C/O KALTURA, INC.

860 BROADWAY 3RD FLOOR

(Street)

NEW YORK NY 10003

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KALTURA INC [ KLTR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

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
Common Stock	09/03/2025		S(1)		38,114	D	$1.49(2)	1,441,760	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

Explanation of Responses:

1. Represents shares automatically sold to cover taxes and fees in connection with the settlement of certain restricted stock unit awards in accordance with the terms of such awards.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.47 to $1.53, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	Zvi Maayan, Attorney-in-Fact for John Doherty	09/04/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did John N. Doherty (KLTR) report on the Form 4?

The CFO reported the sale of 38,114 shares of Kaltura common stock on 09/03/2025 at a weighted average price of $1.49 per share.

Why were shares sold according to the Form 4 for KLTR?

The filing states the shares were automatically sold to cover taxes and fees in connection with the settlement of restricted stock unit awards.

How many Kaltura shares did the reporting person own after the transaction?

After the reported sale, the reporting person beneficially owned 1,441,760 shares.

Who signed the Form 4 for John Doherty and when?

The Form 4 was signed by Zvi Maayan, Attorney-in-Fact for John Doherty on 09/04/2025.

Was the sale part of a 10b5-1 plan or similar program?

The Form 4 indicates the sale resulted from automatic sell-to-cover of RSUs; it does not indicate that the transaction was made pursuant to a 10b5-1 plan.

What price range do the footnotes report for the sale?

The footnote states the shares were sold in multiple transactions at prices ranging from $1.47 to $1.53.