[Form 4] Airbnb, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Airbnb insider sale under trading plan: Joseph Gebbia reported multiple dispositions of Class A common stock on 09/15/2025, selling a total of 238,860 shares in several transactions at weighted-average prices ranging from $119.78 to $122.98. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on February 26, 2025. Following the reported transactions, Gebbia is shown as beneficially owning approximately 1,176,015 Class A shares indirectly through the Sycamore Trust. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Insights

Securities Analyst

TL;DR: Insider sales of 238,860 ABNB shares executed under a pre-established 10b5-1 plan; holdings remain material.

These transactions are routine given the presence of a 10b5-1 plan, which provides pre-authorized execution that reduces timing-related signaling. The total disposed amount, 238,860 shares, was transacted across multiple price bands between $119.78 and $122.98. The filings show indirect beneficial ownership of about 1.18 million Class A shares via Sycamore Trust after the sales, preserving substantial ownership alignment with the company. Impact on market is likely muted absent other developments.

Corporate Governance Expert

TL;DR: Proper disclosure and Rule 10b5-1 usage reduce governance concerns, though sizable disposals warrant attention.

The Form 4 discloses that sales were made pursuant to a 10b5-1 plan adopted on February 26, 2025, which supports compliance with insider-trading rules and diminishes potential questions about opportunistic timing. The report provides weighted-average price ranges and an undertaking to provide further breakdowns on request, which is transparent. The remaining indirect stake (~1.176M Class A shares) indicates continued significant economic interest.

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^*

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)
09/15/2025

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	09/15/2025		S(1)		7,040	D	$119.9311(2)	1,404,975	I	By Sycamore Trust
Class A Common Stock	09/15/2025		S(1)		154,660	D	$120.3994(3)	1,250,315	I	By Sycamore Trust
Class A Common Stock	09/15/2025		S(1)		63,700	D	$121.4907(4)	1,186,615	I	By Sycamore Trust
Class A Common Stock	09/15/2025		S(1)		10,600	D	$122.2294(5)	1,176,015	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 $119.78 to $119.99. 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 $120.00 to $120.99. 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 $121.00 to $121.99. 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 $122.00 to $122.98. 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	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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