Kiernan Michael 4/A
4/A · Nextdoor Holdings, Inc. · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
Nextdoor (NXDR) CRO Kiernan Michael Receives PSU & RSU Awards (442,086 each)
What Happened
- Kiernan Michael, Chief Revenue Officer of Nextdoor Holdings (NXDR), was granted two equity awards on March 5, 2026: 442,086 performance stock units (PSUs) and 442,086 restricted stock units (RSUs). Both grants are reported as awards (derivative transactions) at $0.00 per share and together represent 884,172 share equivalents.
- The PSUs are contingent on meeting performance targets and continued service; the RSUs are service‑based awards that vest over time. These awards are compensation grants, not open‑market purchases or sales.
Key Details
- Transaction date: March 5, 2026; filing date (amendment): March 20, 2026. This filing is an amended Form 4 correcting the PSU performance period and expiration.
- Reported amounts/prices: 442,086 PSUs @ $0.00; 442,086 RSUs @ $0.00 (total 884,172 share equivalents).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- PSUs (F1–F3): Contingent on achievement of four escalating stock‑price performance targets during the performance period (Mar 5, 2026–Jan 15, 2030). Vesting is annual in four installments (first possible vesting Jan 15, 2027). Payout can be 0%–200% of target; if performance = 0% the PSUs expire on Jan 15, 2030.
- RSUs (F4–F6): Service‑based, vest in 16 quarterly installments over four years (first vesting Apr 15, 2026). These RSUs do not expire prior to vesting.
- Amendment note: The Form 4 was amended to correct the beginning of the PSU performance period and the PSU expiration date; this amendment supersedes prior versions.
Context
- These are grant awards (code A) — PSUs are performance‑contingent and may never convert to shares if targets aren’t met; RSUs convert to shares only as they vest with continued service. Neither award represents an immediate sale or purchase of vested shares.
- Such grants are common executive compensation and should be viewed as part of pay structure rather than a direct signal of insider buying or selling.
Insider Transaction Report
Form 4/AAmended
Kiernan Michael
Chief Revenue Officer
Transactions
- Award
Performance Stock Units (PSU)
[F1][F2][F3]2026-03-05+442,086→ 442,086 totalExp: 2030-01-15→ Class A Common Stock (442,086 underlying) - Award
Restricted Stock Units (RSU)
[F4][F5][F6]2026-03-05+442,086→ 442,086 total→ Class A Common Stock (442,086 underlying)
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 restricted stock units do not expire; they either vest or are cancelled prior to the vesting date.
Signature
/s/ Sophia Contreras Schwartz, as Attorney-in-Fact for Reporting Person|2026-03-20