Lars Letonoff Form 4 KnowBe4 / Lars Letonoff ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Letonoff Lars

(Last) (First) (Middle)

C/O KNOWBE4, INC.

33 N. GARDEN AVENUE

(Street)

CLEARWATER FL 33755

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KnowBe4, Inc. [ KNBE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
See remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/22/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/22/2022		A		50,000(1)	A	$0	150,000(2)	D
Class A Common Stock	02/22/2022		A		83,290(3)	A	$0	233,290(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units ("RSUs") earned by the Reporting Person in connection with the achievement of performance conditions for the period ended December 31, 2021 that were granted on April 8, 2021. Each RSU represents a contingent right to receive one share of KnowBe4, Inc.'s (the "Issuer") Class A common stock ("Class A Common Stock"). On February 22, 2022, the Issuer's Compensation Committee determined the applicable performance conditions had been achieved. As a result, subject to the Reporting Person's continuing as a Service Provider (as defined in the Issuer's 2021 Equity Incentive Plan) through each such date, one-third (1/3) of the RSUs shall vest on May 15, 2022 (the "First Vesting Date"), and one-twelfth (1/12) of the RSUs shall vest each quarter on each Quarterly Vesting Date after the First Vesting Date. "Quarterly Vesting Date" shall mean the first trading day on or after each of August 15, November 15, February 15 and May 15.

2. The Reporting Person has reported prior awards of RSUs in Table II of Form 4. This total reported in Column 5 includes 100,000 previously reported RSUs. Each RSU represents a contingent right to receive one share of Class A Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

3. These securities are RSUs. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. Subject to the Reporting Person's continuing as a Service Provider (as defined in the Issuer's 2021 Equity Incentive Plan) through each such date, one-third (1/3) of the RSUs shall vest on May 15, 2023 (the "First Vesting Date"), and one-twelfth (1/12) of the RSUs shall vest each quarter on each Quarterly Vesting Date after the First Vesting Date. "Quarterly Vesting Date" shall mean the first trading day on or after each of August 15, November 15, February 15 and May 15.

Remarks:

Co-President & Chief Revenue Officer

	/s/ Alicia Dietzen, as Attorney-in-Fact	02/24/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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