[Form 4] Airbnb, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Alfred Lin, a director of Airbnb, Inc. (ABNB), reported conversions and distributions involving the company’s dual‑class shares. On 11/14/2025, Class B common stock held through Sequoia Capital funds was converted into Class A common stock on a one-for-one basis for 1,771,663 shares in Sequoia Capital Fund, LP and 219,437 shares in Sequoia Capital Fund Parallel, LLC, at a stated price of $0.

The report also shows pro rata in‑kind distributions of the same number of Class A shares from each Sequoia fund to its partners or members for no consideration, reducing the funds’ Class A holdings to 468,272 shares in Sequoia Capital Fund, LP and 42,394 shares in Sequoia Capital Fund Parallel, LLC. In addition, an estate planning vehicle is reported as holding 510,198 Class A shares. Lin may be deemed to share voting and dispositive power over the Sequoia-held shares but disclaims beneficial ownership beyond his 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).

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^*

Lin Alfred

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

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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	11/14/2025		C(1)		1,771,663	A	$0	2,239,935	I	Sequoia Capital Fund, LP(3)
Class A Common Stock	11/14/2025		J(2)		1,771,663	D	$0	468,272	I	Sequoia Capital Fund, LP(3)
Class A Common Stock	11/14/2025		C(1)		219,437	A	$0	262,239	I	Sequoia Capital Fund Parallel, LLC(3)
Class A Common Stock	11/14/2025		J(2)		219,845	D	$0	42,394	I	Sequoia Capital Fund Parallel, LLC(3)
Class A Common Stock	11/14/2025		J(2)		30,615	A	$0	510,198	I	By estate planning vehicle
Class A Common Stock								18,652	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
Class B Common Stock	(1)	11/14/2025		C(1)			1,771,663	(1)	(1)	Class A Common Stock	1,771,663	$0	15,476,693	I	Sequoia Capital Fund, LP(3)
Class B Common Stock	(1)	11/14/2025		C(1)			219,437	(1)	(1)	Class A Common Stock	219,437	$0	1,895,283	I	Sequoia Capital Fund Parallel, LLC(3)

Explanation of Responses:

1. The Issuer's Class B Common Stock is convertible into the Issuer's Class A Common Stock on a one-for-one basis at the election of the holder thereof and has no expiration date.

2. Represents a pro rata in-kind distribution of shares of Class A Common Stock of the Issuer to partners or members for no consideration and includes subsequent distributions by general partners or managing members to their respective partners or members.

3. The Reporting Person is a director and stockholder of SC US (TTGP), Ltd. SC US (TTGP), Ltd is the general partner of Sequoia Capital Fund Management, L.P., which is the general partner of Sequoia Capital Fund, LP ("SCF") and the managing member of Sequoia Capital Fund Parallel, LLC ("SCFP"). As a result, the Reporting Person may be deemed to share voting and dispositive power with respect to the shares held by SCF and SCFP. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

	/s/ Jung Yeon Son, Attorney-in-fact for Alfred Lin	11/18/2025
	** 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 insider transaction did Alfred Lin report for Airbnb (ABNB)?

Alfred Lin reported that on 11/14/2025 Class B common stock held through Sequoia funds was converted into Airbnb Class A common stock and then distributed in kind to fund partners or members for $0 consideration.

How many Airbnb Class A shares were converted from Class B shares in this Form 4?

The filing shows the conversion of 1,771,663 Class B shares into Class A shares in Sequoia Capital Fund, LP and 219,437 Class B shares into Class A shares in Sequoia Capital Fund Parallel, LLC, on a one-for-one basis.

What is Alfred Lin’s indirect Class A share ownership in Airbnb after the reported transactions?

After the transactions, Sequoia Capital Fund, LP is reported as holding 468,272 Airbnb Class A shares and Sequoia Capital Fund Parallel, LLC as holding 42,394 Airbnb Class A shares, with Lin reported as sharing voting and dispositive power over these holdings.

What additional Airbnb shares are reported through Alfred Lin’s estate planning vehicle?

The filing reports that an estate planning vehicle holds 510,198 Airbnb Class A shares, noted as indirectly beneficially owned.

How does the Form 4 describe the Class B to Class A share conversion for Airbnb (ABNB)?

The Class B common stock of Airbnb is described as convertible into Class A common stock on a one-for-one basis at the election of the holder and having no expiration date.

Does Alfred Lin claim full beneficial ownership of the Airbnb shares held by the Sequoia funds?

No. The filing states that Alfred Lin may be deemed to share voting and dispositive power over shares held by Sequoia Capital Fund, LP and Sequoia Capital Fund Parallel, LLC, but he disclaims beneficial ownership except to the extent of his pecuniary interest.