Nextdoor (NXDR) CFO receives 1.55M performance stock units tied to 2030 targets
Rhea-AI Filing Summary
Ponnambalam Indrajit reported acquisition or exercise transactions in this Form 4 filing.
Nextdoor Holdings, Inc. reported that its CFO and Treasurer, Indrajit Ponnambalam, received a grant of 1,554,806 Performance Stock Units (PSUs) tied to the company’s Class A common stock. These PSUs are a contingent right to receive shares based on stock price performance and continued service.
The award’s performance period runs from March 5, 2026 through January 15, 2030, with four escalating stock price targets. Subject to meeting the relevant targets and continued employment, the PSUs can vest in four annual installments each January 15 starting in 2027.
Depending on performance, the CFO may ultimately earn between 0% and 200% of the 1,554,806-share reference amount. Any PSUs for which performance criteria are not achieved by January 15, 2030 will expire and be forfeited.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units (PSU) | 1,554,806 | $0.00 | -- |
Footnotes (1)
- 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%. 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. 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.