Ping Li
About Ping Li
Ping Li is a partner at Accel (since 2004) and has served on Klaviyo’s Board since 2020; he is 52 years old. He holds an A.B. in Economics from Harvard University and an M.B.A. from Stanford University. His background centers on technology investing and board service in software, including a prior public directorship at Tenable Holdings (2012–2021). Current Klaviyo committee assignment: Nominating & Corporate Governance Committee, Member .
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Tenable Holdings, Inc. (NASDAQ: TENB) | Director | Oct 2012 – May 2021 | Public company board experience in cybersecurity software |
| Accel | Partner | 2004 – Present | Longstanding venture investor; portfolio board oversight at several private companies |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Accel | Partner | 2004 – Present | Venture capital partner; investment focus in technology; serves/has served on several private company boards |
| Other Current Public Company Boards | — | — | None |
Board Governance
- Board class/tenure: Class I director; term runs to the 2027 annual meeting; Director since 2020 .
- Committee memberships: Nominating & Corporate Governance Committee, Member .
- Lead Independent Director: Tony Weisman (calls/presides over independent sessions; works on agendas, committee memberships, CEO performance discussions; succession coordination) .
- Board meetings and attendance: 5 Board meetings in FY2024; all directors attended at least 75% of Board and committee meetings in 2024; all directors attended the 2024 annual stockholder meeting; non-management directors held 4 executive sessions in 2024 .
- Committee charters and independence framework: Nominating & Corporate Governance Committee and Compensation Committee operate under NYSE-compliant charters; Compensation Committee retained Compensia as independent advisor and disclosed no conflicts .
- Independence designation: The proxy includes a matrix with independence, but the retrieved excerpts do not expressly state Ping Li’s independence designation; Nominating & Corporate Governance Committee’s charter complies with NYSE standards .
Board Activity & Engagement (FY2024)
| Metric | Value |
|---|---|
| Board meetings held | 5 |
| Executive sessions (non-management) | 4 |
| Attendance threshold disclosed | Each director ≥75% of Board and applicable committee meetings |
Fixed Compensation (Director)
| Year | Cash Retainer ($) | Committee/Chair Fees ($) | Meeting Fees ($) | Total Cash ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 0 | 0 | 0 | 0 | Waived all non-employee director compensation |
Performance Compensation (Director)
| Year | RSU Grant (Grant Date) | RSU Fair Value ($) | Unvested RSUs at 12/31 | Options (Strike/Exp/Vest) | Performance Metrics |
|---|---|---|---|---|---|
| 2024 | None | 0 | 0 | None disclosed | None disclosed for directors; Ping Li waived director equity |
The director compensation table shows $0 cash and $0 stock awards for Ping Li in 2024 due to his election to waive compensation; he also had no unvested director stock awards outstanding at year-end 2024 .
Other Directorships & Interlocks
| Entity | Type | Role/Connection | Potential Interlock/Conflict Signal |
|---|---|---|---|
| Accel-affiliated funds | Shareholder | Accel funds collectively beneficially own KVYO shares; Ping Li is among managing members of the Accel GP entities controlling these funds | Affiliation with significant shareholder; registration rights under Investors’ Rights Agreement |
| Tenable Holdings, Inc. | Public company | Former Director (2012–2021) | Prior public directorship; no concurrent interlock disclosed |
| Other current public boards | — | None | — |
- Investors’ Rights Agreement: Entities affiliated with Accel (of which Ping Li is a partner) have registration rights alongside other large holders and founders .
Expertise & Qualifications
- Technology and venture investing expertise; extensive experience serving on boards, including a prior public board (Tenable) .
- Education: A.B. Economics (Harvard); M.B.A. (Stanford) .
- Governance experience through service on Klaviyo’s Nominating & Corporate Governance Committee .
Equity Ownership
- Summary Beneficial Ownership (as of April 15, 2025)
| Holder | Series A Shares (#) | Series A % | Series B Shares (#) | Series B % | Total Voting Power % |
|---|---|---|---|---|---|
| Ping Li (aggregate, including shared power via Accel-affiliated entities) | 38,928 | * | 4,619,435 | 2.6% | 2.4% |
“*” denotes less than 1% .
- Breakdown of Ping Li-related holdings (per footnote):
- 31,147 Series A (Li Family Trust) and 7,781 Series A (Li Family GST Exempt Trust) .
- Accel funds (aggregate components): 1,055,195 Series B (Accel Growth Fund V L.P.), 44,808 Series B (Accel Growth Fund V Strategic Partners L.P.), 54,855 Series B (Accel Growth Fund V Investors (2019) L.L.C.), 3,163,506 Series B (Accel Leaders Fund II L.P.), 134,772 Series B (Accel Leaders Fund II Strategic Partners L.P.), 166,299 Series B (Accel Leaders Fund II Investors (2019) L.L.C.); Accel GP entities are managed by a group including Ping Li; managing members share voting and investment powers; each disclaims beneficial ownership except to the extent of pecuniary interest .
Governance Assessment
- Alignment signals
- Waived all non-employee director compensation and equity awards in 2024, reducing potential pay-related biases and signaling focus on shareholder interests through fund ownership alignment .
- Meets disclosed minimum attendance benchmark; Board held 5 meetings in 2024 and all directors attended at least 75%; non-management directors held 4 executive sessions, enhancing independent oversight .
- Potential conflicts and controls
- RED FLAG: Affiliation with Accel, a significant shareholder with registration rights; Ping Li is a managing member of Accel GP entities with shared voting/investment power over Accel holdings. This creates a potential conflict between fund interests and minority shareholders in governance and capital allocation matters .
- Mitigants: Not disclosed as serving on Audit or Compensation Committees; serves on Nominating & Corporate Governance Committee under a NYSE-compliant charter; Audit Committee oversees related-party transactions .
- Independence
- The proxy includes independence designations but the retrieved excerpts do not explicitly state Ping Li’s independence status; however, the Nominating & Corporate Governance Committee operates under NYSE standards, and Board leadership includes a Lead Independent Director to counterbalance combined Chair/CEO structure .
- Other observations
- No director-specific perquisites, stock option repricings, or hedging/pledging disclosures identified for Ping Li in the retrieved excerpts; no director equity grants in 2024 due to waiver .
- No related-party transactions >$120,000 other than disclosed governance arrangements (e.g., registration rights) since Jan 1, 2024; Audit Committee reviews related-party transactions .
Overall implication: Ping Li brings deep technology investing and board experience, with strong ownership alignment via Accel funds but a clear potential conflict as an affiliate of a significant shareholder. Compensation waivers and committee placements (not on Audit/Comp) help mitigate some risks; continued monitoring of related-party oversight, use of registration rights, and Board refreshment processes is warranted .