Nextdoor GC granted PSUs and RSUs in equity award
Schwartz Sophia reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Schwartz Sophia reported acquisition or exercise transactions in this Form 4 filing.
Nextdoor Holdings, Inc. reported that General Counsel and Secretary Sophia Schwartz received equity-based compensation awards. She was granted 471,559 performance stock units and 471,559 restricted stock units, each representing rights to Class A Common Stock. The PSUs vest only if stock price performance targets are achieved during a period through January 15, 2030, while the RSUs vest quarterly over four years starting April 15, 2026, in each case contingent on continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 943,118 shares
Grant/Award
2 txns
Insider
Schwartz Sophia
Role
General Counsel and Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units (PSU) | 471,559 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units (RSU) | 471,559 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Stock Units (PSU) — 471,559 contracts (Direct);
Restricted Stock Units (RSU) — 471,559 contracts (Direct)
Footnotes (6)
- F1. The performance stock units ("PSUs") represent a contingent right to receive shares of the Issuer's Class A Common Stock, subject to the achievement of applicable performance criteria and the reporting person's continued service to the Issuer through the later of: (i) the date such achievement is certified. or (ii) the scheduled vesting date. The number of shares that will vest, if any, is contingent on achievement of the relevant Performance Targets (defined below), with the potential for the reporting person to earn a number of shares between 0% and 200% of the numbers reflected in the row above. The grant details reported in the row above represent the number of shares that may vest and be earned based on achievement of all Performance Targets at 100%.
- F2. The PSU award is subject to a service-based vesting schedule and performance criteria relating to the achievement of four escalating stock price targets (the "Performance Targets") during a performance period beginning on March 5, 2026 and ending January 15, 2030 (the "Performance Period"). Subject to achievement of the relevant Performance Target and the Reporting Person's continued service to the Issuer through the applicable vesting date, the award shall vest annually in four installments on the 15th calendar day of January, with the first tranche capable of vesting on January 15, 2027.
- F3. To the extent the relevant performance criteria are not achieved (i.e., achieved at 0%), the PSUs comprising this award will expire and be forfeited on January 15, 2030.
- F4. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock, subject only to continued service to the Issuer, as described in footnote 5 below.
- F5. The RSU award vests in sixteen ratable quarterly installments over four years on the 15th calendar day of April, July, October and January, with the first such vesting event on April 15, 2026, subject to the reporting person's continued service to the Issuer on each vesting date.
- F6. These RSUs do not expire; they either vest or are cancelled prior to the vesting date.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Nextdoor (NXDR) report for Sophia Schwartz?
Nextdoor reported that General Counsel and Secretary Sophia Schwartz received grants of performance stock units and restricted stock units. Each grant covers 471,559 units tied to Class A Common Stock, forming part of her equity compensation package subject to vesting and service conditions over several years.
How many performance stock units did Sophia Schwartz receive from Nextdoor (NXDR)?
Sophia Schwartz received 471,559 performance stock units. These PSUs give her a contingent right to shares of Class A Common Stock, with the actual number earned ranging from 0% to 200% of this amount based on achievement of specified stock price performance targets.
What are the vesting conditions for the Nextdoor (NXDR) performance stock units?
The performance stock units vest only if stock price performance targets are achieved during a performance period from March 5, 2026 to January 15, 2030. Vesting also requires Sophia Schwartz’s continued service, with potential annual vesting on January 15 if targets are met and certified.
When do Sophia Schwartz’s restricted stock units from Nextdoor (NXDR) vest?
The restricted stock units vest in sixteen equal quarterly installments over four years. Vesting occurs on the 15th of April, July, October, and January, beginning on April 15, 2026, and requires that Sophia Schwartz remain in service with Nextdoor on each scheduled vesting date.
Can the performance stock units granted by Nextdoor (NXDR) be forfeited?
Yes. If the relevant performance criteria are achieved at 0%, the performance stock units will expire and be forfeited on January 15, 2030. This means no shares are earned if stock price targets are not met during the defined performance period for the award.
Do the restricted stock units granted by Nextdoor (NXDR) to Sophia Schwartz expire?
The restricted stock units do not have a traditional expiration date. Instead, each RSU either vests on its scheduled quarterly vesting date, delivering one share of Class A Common Stock, or is cancelled before vesting if the continued service condition is not satisfied.
AI-generated analysis. How Rhea-AI works. Not financial advice.
