[144] Airbnb, Inc. SEC Filing

Rhea-AI Filing Summary

On July 1, 2025, Simmons First National Corp. (SFNC) director Mark C. Doramus converted previously granted Restricted Stock Units (RSUs) into common shares, according to a Form 4 filed on July 3, 2025. Two conversion transactions (transaction code “M”) delivered 953 and 929 shares, respectively, resulting in the acquisition of 1,882 new shares at a zero-dollar exercise price.

After the conversions, Doramus’ direct ownership rose to 53,662 SFNC shares. The RSUs that vested on July 1 were part of the company’s equity-compensation program. Additional tranches—953 shares and 929 / 928 shares—are scheduled to vest on October 1, 2025 and January 2, 2026, with customary acceleration provisions for retirement, death, or disability.

No shares were sold, and the filing reflects a routine, compensation-related increase in insider ownership rather than discretionary open-market buying. As such, the event is considered low in market impact, though it marginally aligns director incentives with shareholders through a higher personal stake.

Positive

• Director Mark C. Doramus increased his direct ownership by 1,882 shares, now holding 53,662 shares.
• No insider selling occurred; all vested shares were retained.

Negative

• The acquisition is the result of routine RSU vesting, not a discretionary open-market purchase, limiting its signaling value.

Insights

Securities Analyst

TL;DR: Routine RSU conversion adds 1,882 shares to director’s stake; negligible effect on SFNC valuation or trading dynamics.

The Form 4 shows a technical "M" code—conversion of derivative securities—rather than a cash purchase. While Doramus now holds 53,662 shares, the cost-free nature and scheduled vesting make the move non-informative about his view on future price performance. No selling pressure emerges, so the disclosure is neutral from a market-liquidity perspective.

Corporate Governance Expert

TL;DR: Compensation-driven share delivery increases alignment but offers limited governance signal.

The transaction stems from normal vesting under SFNC’s long-term incentive plan. Maintaining all shares rather than selling improves perceived commitment, yet the timing was predetermined. Investors should monitor future open-market purchases or sales for stronger sentiment cues. Overall governance impact is modest but directionally positive due to higher insider ownership.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	600	81762.00	431602213	07/03/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	05/19/2025	Restricted Stock Vesting	Issuer			600	05/19/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	04/08/2025	700	77518.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	04/15/2025	700	80276.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	04/22/2025	700	78813.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	04/29/2025	700	86296.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	05/29/2025	1475	191750.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	06/05/2025	600	80100.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	06/12/2025	600	82278.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	06/20/2025	600	79362.00
Aristotle Balogh 888 Brannan Street San Francisco CA 94103	Class A	06/26/2025	600	78198.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many SFNC shares did Director Mark C. Doramus acquire on July 1, 2025?

1,882 shares were acquired through the conversion of vested RSUs.

What is Mark C. Doramus’ total SFNC shareholding after the Form 4 transactions?

Following the conversions, he owns 53,662 SFNC shares directly.

What transaction code was used in the SFNC Form 4 filed on July 3, 2025?

The filing lists transaction code “M”, indicating an exercise or conversion of derivative securities.

When will the remaining RSUs held by Mark C. Doramus vest?

953 shares are scheduled to vest on October 1, 2025, and 929/928 shares on January 2, 2026.

Did the director sell any SFNC shares in this Form 4 filing?

No. All shares were acquired and retained; there were no dispositions.