Matt Anderson
About Matt Anderson
Matt Anderson, 37, is Chief Financial Officer and Treasurer of Nextdoor Holdings (NYSE: KIND) since November 7, 2023; he joined Nextdoor in July 2019 as Head of Finance & Strategy, and holds a B.A. in Economics and International Area Studies from UCLA . Prior roles include senior finance positions at Block (Square) from August 2013 to July 2019, and earlier finance/investment roles at GI Partners and Barclays Capital . During his tenure, Nextdoor’s 2024 revenue grew 13% to $247.3M with WAU ~46M (+10% YoY) and year-end cash/marketable securities of $427M; management highlighted operating leverage and share repurchases (31M at $2.44 average, reducing fully diluted share count by 5%) . On the Q4 2024 earnings call, Anderson noted broad-based cost leverage and ~30 points of year-over-year margin improvement in Q4 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nextdoor Holdings | CFO & Treasurer | Nov 2023–present | Leads finance, capital allocation and efficiency efforts, including 2024 operating leverage and margin improvement commentary . |
| Nextdoor, Inc. | Head of Finance & Strategy | Jul 2019–Nov 2023 | Built finance and IR functions pre- and post-SPAC, supported growth in WAU and revenue . |
| Block, Inc. (Square) | Senior finance roles | Aug 2013–Jul 2019 | Variety of senior finance positions at a scaled fintech platform . |
| GI Partners; Barclays Capital | Finance/investment; Investment banking | Pre-2013 | Early career experience across PE and banking, foundational to CFO role . |
External Roles
No public company directorships or external board roles disclosed. —
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Set Base Salary ($) | 475,000 | 550,000 (effective Apr 1, 2024) |
| Salary Paid (Summary Comp Table) ($) | 363,674 | 531,250 |
Notes:
- Nextdoor’s program emphasizes base salary plus equity for executives (no regular corporate bonus plan except for the CEO and sales roles) .
Performance Compensation
| Incentive Type | Metric/Design | Weighting | Target/Grant | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual Cash Bonus (CFO) | Not part of regular plan (CEO-only in 2024); sales roles only | — | — | — | — |
| RSUs (Annual Merit 2024) | Equity value-based grant | — | 952,381 RSUs; $2.0M “Equity Value” | N/A (time-vest) | Commenced Jan 15, 2025; vests over ~2 years (quarterly) |
| Adjustment Grants (Promotion 2023) | RSUs and options sized to role | — | 215,272 RSUs; 341,702 options (Nov 9, 2023) | N/A (time-vest) | Vest over ~26 months (details in grant) |
Additional details:
- 2024 program prioritized RSUs for retention, moving away from options due to “underwater” risk; 2024 awards for NEOs (except CEO) vest over two years from Jan 15, 2025 .
- Stock ownership guidelines adopted effective Jan 1, 2025: CEO 5x salary; other executive officers 1x salary; target to achieve by the later of five years from coverage/promotion or Jan 1, 2030; 100% net-share retention until compliant .
Equity Ownership & Alignment
As of March 31, 2025 (beneficial ownership, including options/RSUs vesting within 60 days):
- Class A: 1,118,410 shares beneficially owned; Class B: 346,340 shares beneficially owned; combined voting power ~0.27% (see table and footnote) .
- Breakdown includes: 588,731 Class A shares; 333,122 Class A options vested; 53,591 Class A options exercisable within 60 days; 346,340 Class B options vested; 142,966 Class A RSUs vesting within 60 days .
- Anti-hedging policy prohibits hedging and most monetization; pledging permitted only in limited, pre-approved circumstances (for all employees/directors) .
- Insider activity indicates RSU vest-and-sell for taxes: e.g., April 15, 2024 issuer-mandated sale to satisfy tax withholding upon RSU settlement; multiple RSU conversions with vesting schedules specified .
- Vested RSU example: Feb 15, 2025 Form 4 shows 9,666 RSUs vested from a one-year quarterly schedule (first vest May 15, 2024) .
- Rule 10b5-1 plan: on June 6, 2025, Anderson adopted a trading plan providing for potential sales of up to 762,342 Class A shares between an estimated start of Sept 5, 2025 and Sept 30, 2026, subject to price thresholds and other conditions .
Employment Terms
- Start date as CFO: November 7, 2023; initial base salary $475,000 per offer letter; includes confidentiality and arbitration agreements .
- Severance & Change-in-Control (CIC): under a standard Change in Control and Severance Agreement (effective Nov 7, 2023), outside a CIC: 6 months’ base salary plus up to 6 months medical premium payments; within a double-trigger CIC (termination without cause/for good reason in defined window): 12 months’ base salary, up to 12 months medical premiums, and accelerated equity vesting (double-trigger) .
- Estimated severance payments (as disclosed):
- As of Dec 31, 2023: No CIC—cash $237,500; medical $17,788; total $255,288. CIC—cash $475,000; medical $35,577; accelerated equity $1,862,749; total $2,373,326 .
- As of 2024 values: No CIC—cash $275,000; medical $19,639; total $294,639. CIC—cash $550,000; medical $39,277; accelerated equity $3,086,846; total $3,676,123 .
- Agreement auto-renews in 3-year periods unless non-renewal notice is given at least three months prior to renewal; supersedes prior severance/vesting arrangements .
- Clawback: Company maintains a Compensation Recovery (clawback) Policy applicable to executive officers .
Compensation Summary (Multi-Year)
| Year | Salary ($) | Stock Awards ($) | Options ($) | Bonus/NEIP ($) | Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2023 | 363,674 | 1,513,401 | 317,339 | — | 2,828 | 2,197,242 |
| 2024 | 531,250 | 2,447,619 | — | — | 2,300 | 2,981,169 |
Grant detail highlights for 2023–2024:
- 11/9/2023: 215,272 RSUs and 341,702 options (promotion “adjustment awards”); 12/8/2023: 615,124 RSUs; 5/10/2023: 70,540 RSUs .
- 7/5/2024: 952,381 RSUs; “Equity Value” $2,447,619 per 2025 proxy comp tables; program disclosed as two-year vest starting 1/15/2025 .
Insider Transactions and Vesting Schedules
| Date | Type | Quantity/Price | Notes |
|---|---|---|---|
| 04/15/2024 | RSU conversions and tax sale | Multiple tranches; issuer-mandated sale for tax on RSU vesting | RSU schedules include a 9-installment plan vesting on Jan 15, Apr 15, Jul 15, Oct 15, starting 1/15/2024; also one-year quarterly vest plans . |
| 02/15/2025 | RSU vest | 9,666 shares; $0 (conversion) | One-year quarterly vest starting 05/15/2024 . |
| 06/06/2025 | 10b5-1 plan adoption | Up to 762,342 shares window Sept 5, 2025–Sept 30, 2026 | Potential structured selling; plan subject to price thresholds and conditions . |
Governance, Say‑on‑Pay, and Peer Benchmarking
- Compensation practices include double-trigger CIC equity acceleration, independent comp committee and consultant (Compensia), Rule 10b5-1 trading plan requirements, clawback policy, and stock ownership guidelines .
- 2024 say‑on‑pay (for 2023 program): ~99% support .
- 2023/2024 peer groups comprised of comparable consumer, software, and internet companies by revenue and market cap; used for calibration rather than strict percentile targeting .
Notable 2025 Transition
Nextdoor announced on August 7, 2025 that Matthew Anderson would resign as CFO effective September 1, 2025, continuing as an advisor through year-end to support transition; the company initiated a CFO search . An advisory agreement filed September 1, 2025 outlines advisory terms and an extended option exercise window .
Investment Implications
- Alignment/retention: A material portion of Anderson’s 2023–2024 total comp was time-based RSUs with multi-year vesting, plus ownership guidelines and a clawback policy—supporting alignment but with less downside sensitivity versus options .
- Selling pressure signals: Routine tax-withholding sales around quarterly vest dates and an adopted Rule 10b5‑1 plan for up to ~762k shares (Sep 2025–Sep 2026) indicate foreseeable supply, albeit structured and price‑conditioned .
- CIC/Severance economics: Double‑trigger CIC protection includes 12 months salary and full acceleration (estimated $3.09M accelerated equity value as of 2024 disclosure), implying meaningful upside upon a change in control event and manageable cash outlay otherwise .
- Track record: 2024 showed 13% revenue growth, WAU gains, and stated margin improvement, but Anderson’s announced 2025 departure introduces near‑term continuity risk until a successor is appointed .
Key sources: 2025 and 2024 DEF 14A (executive officers, ownership, compensation, severance), 2023 8‑K (CFO appointment), offer letter and CIC agreement exhibits, 2024–2025 Form 4 filings, and 2024 Q4 earnings call transcript.