Jason Pressman
About Jason Pressman
Jason Pressman is an independent director of Nextdoor Holdings, Inc. (KIND), serving since November 2021. He is a Managing Director at Shasta Ventures (since 2005) and AZ‑VC (since 2023), and previously was Vice President of Strategy & Operations at Walmart.com from 2000 to 2004. He holds a B.S. in Finance from the University of Maryland and an M.B.A. from Stanford GSB. Age: 51. Rationale for his nomination emphasizes operations/strategy experience in retail and corporate finance experience as a venture capitalist, with extensive board experience across technology companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Walmart.com (subsidiary of Walmart Inc.) | VP, Strategy & Operations | 2000–2004 | Led e-commerce strategy/operations during early scale-up phase |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Shasta Ventures | Managing Director | 2005–present | Focus on SaaS/online services; serves on several private company boards |
| AZ‑VC | Managing Director | 2023–present | Venture capital leadership role |
| Zuora, Inc. (public) | Director | Not disclosed | Current public company directorship |
| Various private companies | Director | Not disclosed | Boards in SaaS/online services |
Board Governance
| Attribute | Details |
|---|---|
| Independence | Board determined Pressman is independent under NYSE and SEC rules (one of nine independent directors) . |
| Committee Assignments | Chair, Compensation & People Development Committee; Member, Audit & Risk Committee . |
| Committee Remit (Compensation) | Oversees executive and director pay, incentive plans, org/people activities; uses independent consultant Compensia; all members independent and non‑employee directors . |
| Committee Remit (Audit) | Reviews financial reporting/internal controls, auditor independence, related‑party transactions, enterprise risk incl. cybersecurity and data privacy . |
| Attendance | Board met 8x in 2024; each committee also met (Comp 6x, Audit 4x, Nominating 4x). All directors met the 75% attendance threshold except the noted exceptions (Meeker, Steele, Sze); Pressman not among exceptions . |
| Lead Independent Director | Elisa Steele serves as Lead Independent Director (since March 2025), presiding over executive sessions of independent directors . |
| Executive Sessions | Independent directors hold regular executive sessions . |
| Related-Party Oversight | Audit & Risk Committee reviews related‑party transactions; none >$120k in 2024‑2025 YTD beyond standard compensation . |
Fixed Compensation (Non-Employee Director – 2024)
| Component | Amount ($) |
|---|---|
| Fees Earned/Paid in Cash | 61,525 |
| Stock Awards (RSUs) – grant date fair value | 196,959 |
| Option Awards – grant date fair value | 61,226 |
| Total | 319,710 |
Director Program Structure (effective 2024):
- Annual cash retainer $40,000; Chair fees: Audit $27,500, Compensation $27,500, Nominating $10,000; non‑chair member fees: Audit $10,000, Compensation $10,000, Nominating $4,000; Lead Independent Director $15,000 .
- Annual RSU grant $175,000 (initial RSU $350,000 for new directors); annual awards vest by next AGM/one year; acceleration on Corporate Transaction .
Performance Compensation (Equity Detail – 2024)
| Award Type | Shares Granted | Vesting | Outstanding at 12/31/2024 |
|---|---|---|---|
| RSUs (Annual Award) | 68,627 | Vest on earlier of 2025 AGM or one year from 6/18/2024; service-based | 68,627 |
| Stock Options (monthly tranches) | 49,435 | Granted in 10 monthly installments (Sep 2023–Jun 2024); each tranche vested immediately on grant date | Options outstanding 123,517; unvested options 0 |
Notes:
- Monthly option fair values in 2024 grant months: Jan $1.04; Feb $0.96; Mar $1.31; Apr $1.34; May $1.28; Jun $1.51 (per option valuation at grant) .
- The company shifted regular long-term incentives toward RSUs (reduced option usage) for alignment/retention and dilution management .
Other Directorships & Interlocks
- Current public board: Zuora, Inc. .
- Compensation Committee interlocks: None reported for 2024; no execs of KIND served on boards/comp committees of entities with KIND executives serving reciprocally (Tolia served on Comp Committee before becoming CEO; disclosure notes no interlocks requiring disclosure) .
- Related-party transactions: None exceeding $120,000 in 2024–YTD 2025 involving Pressman or his affiliates; policy in place with Audit & Risk Committee oversight .
Expertise & Qualifications
- Education: B.S. Finance (University of Maryland, College Park); M.B.A. (Stanford GSB) .
- Qualifications cited by the Board: Operations and strategy experience from retail (Walmart.com); corporate finance perspective as a venture capitalist with multiple technology board roles .
Equity Ownership (as of March 31, 2025)
| Category | Amount |
|---|---|
| Class A Shares Beneficially Owned | 1,618,333 (0.69% of Class A) |
| Of which: The 2016 Jason Pressman Trust | 1,357,387 |
| Options (Class A) – fully vested | 123,517 |
| Shasta Ventures II, L.P. (beneficially attributed) | 137,429 Class A shares |
| Outstanding RSUs | 68,627 (director award from 2024; unvested as of 12/31/2024) |
Ownership alignment:
- Stock ownership guidelines adopted effective Jan 1, 2025: Non‑employee directors must hold ≥3x annual board cash retainer; compliance measured over up to five years; retention of net-after-tax shares required until compliant .
- Anti‑hedging policy: Hedging prohibited for all employees and non‑employee directors; pledging only permitted in limited circumstances with CLO approval .
Governance Assessment
- Strengths: Independent status; chairs the Compensation & People Development Committee with use of an independent consultant (Compensia); committee and board structures/charters emphasize rigorous oversight of compensation, risk, and related‑party transactions; stock ownership guidelines and clawback policy support alignment with shareholders .
- Engagement: Met attendance expectations; board/committees convened frequently during leadership transition in 2024 (Board 8x; Comp 6x; Audit 4x; Nominating 4x) .
- Incentives: Director pay mix balanced between cash and equity; 2024 program increased role-based retainers and introduced committee member fees, which may enhance participation but warrants monitoring on cumulative cost; equity largely RSUs vesting on an annual basis (time-based, not performance-conditioned) .
- Conflicts/Risk indicators: No related‑party transactions >$120k and no compensation committee interlocks disclosed; however, a small portion of beneficial ownership is via a venture fund (Shasta Ventures II), which should be monitored for potential perceived conflicts if any transactions were to arise with portfolio companies (none disclosed) .
- Shareholder sentiment: Prior say‑on‑pay (2023 program voted at 2024 AGM) received ~99% support, indicating broad investor approval of compensation governance; continued stewardship as Comp Committee Chair is key to maintaining this support .
RED FLAGS: None disclosed regarding attendance shortfalls, related‑party transactions, hedging/pledging violations, option repricing, or low say‑on‑pay. Continue to monitor venture affiliations and evolving fee structures for any perception of misalignment; none present in current disclosures .