[Form 4] Airbnb, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Joseph Gebbia, an Airbnb, Inc. (ABNB) director and reported 10% owner, sold Class A common stock under a Rule 10b5-1 trading plan adopted February 26, 2025. On 09/02/2025 he effected multiple sales totaling 238,860 Class A shares in separate transactions with weighted-average prices ranging from $126.48 to $129.24 across the reported tranches. Following the reported disposals his indirect beneficial ownership via Sycamore Trust is shown at approximately 1.41 million Class A shares.

Positive

• Transactions were executed under a Rule 10b5-1 trading plan, indicating pre-planned, compliant dispositions
• Reporting person retains substantial indirect ownership (~1.41 million Class A shares via Sycamore Trust) after sales

Negative

• Significant number of shares sold: the filing reports total disposals of 238,860 Class A shares
• Reporting person is a director and 10% owner, so large sales may be perceived negatively by some market participants

Insights

Financial Analyst

TL;DR: Insider sales totaling 238,860 ABNB Class A shares were executed under a pre-established 10b5-1 plan; ownership remains material (~1.41M shares).

These sales were conducted pursuant to a Rule 10b5-1 plan, indicating pre-planned, routine disposition rather than ad hoc trading. The transactions occurred at weighted-average prices in a narrow band from $126.48 to $129.24, suggesting execution over multiple fills on the same date. For investors, the filing documents a sizable reduction in economic exposure by a co-founder/director but also shows continued significant indirect ownership through Sycamore Trust.

Corporate Governance Expert

TL;DR: Director and 10% owner disclosed multiple planned sales; filings reflect compliance with Rule 10b5-1 procedures.

The Form 4 clearly states the trades were made pursuant to a 10b5-1 trading plan adopted February 26, 2025, and includes weighted-average prices plus commitments to provide per-trade breakdowns on request. The disclosure and signature by an attorney-in-fact indicate formal compliance with Section 16 reporting obligations. Governance implications center on continued substantial ownership coupled with routine liquidity actions rather than an unexpected departure or insider event.

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

OMB APPROVAL

OMB Number:			3235-0287
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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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gebbia Joseph

(Last) (First) (Middle)

888 BRANNAN STREET

(Street)

SAN FRANCISCO CA 94103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Airbnb, Inc. [ ABNB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S(1)		50,167	D	$126.7568(2)	1,597,848	I	By Sycamore Trust
Class A Common Stock	09/02/2025		S(1)		138,424	D	$127.3902(3)	1,459,424	I	By Sycamore Trust
Class A Common Stock	09/02/2025		S(1)		34,112	D	$128.599(4)	1,425,312	I	By Sycamore Trust
Class A Common Stock	09/02/2025		S(1)		13,297	D	$129.1085(5)	1,412,015	I	By Sycamore Trust
Class A Common Stock								2,860	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. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on February 26, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.48 to $126.9991. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $127.00 to $127.9879. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $128.00 to $128.9932. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $129.00 to $129.24. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Brian Savage, Attorney-in-fact	09/04/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ABNB director Joseph Gebbia disclose on the Form 4?

The Form 4 shows Joseph Gebbia sold Class A common stock on 09/02/2025 under a Rule 10b5-1 plan and remains an indirect holder via Sycamore Trust.

How many ABNB shares were sold and at what prices?

The filing reports disposals totaling 238,860 Class A shares with weighted-average transaction prices reported in ranges from $126.48 to $129.24.

Was the sale part of a prearranged trading plan?

Yes. The Form 4 states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted February 26, 2025.

What is Gebbia’s ownership after the reported trades?

Following the reported transactions the filing shows indirect beneficial ownership of approximately 1.41 million Class A shares via Sycamore Trust.

Who signed the Form 4?

The Form 4 is signed on behalf of the reporting person by Brian Savage, Attorney-in-fact with date 09/04/2025.