Airbnb director Gebbia reports block sales, 10b5-1 plan in effect

Rhea-AI Filing Summary

Joseph Gebbia, a director and reported 10% owner of Airbnb, Inc. (ABNB), reported multiple sales of Class A common stock on 08/18/2025. The Form 4 shows disposals of 27,274, 208,726, and 2,860 shares. The larger blocks were sold at weighted-average prices in ranges disclosed in the filing: one set between $124.49 and $124.995 and another between $125.00 and $125.89. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on February 26, 2025, and the form was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Sales executed under a Rule 10b5-1 trading plan, indicating pre-arranged, compliant insider transactions
• Weighted-average price ranges disclosed with commitment to provide per-trade pricing on request, improving transparency

Negative

• Substantial share disposals (27,274; 208,726; 2,860 shares) by a director and 10% owner could be perceived negatively by investors
• Filing does not disclose total proceeds or post-transaction ownership percentage, limiting context for the sales

Insights

Financial Analyst

TL;DR: Significant insider selling occurred under a pre-established 10b5-1 plan; sales are sizable but executed under an automated plan.

Gebbia disposed of substantial blocks of Class A shares on 08/18/2025 totaling the amounts disclosed in the Form 4. The filing explicitly states the sales were executed pursuant to a Rule 10b5-1 plan adopted 02/26/2025, and it provides weighted average price ranges for the transactions. From a market-impact perspective, clustered insider sales of this scale can increase supply pressure short-term, but the use of a 10b5-1 plan reduces the likelihood that these trades reflect new private information. The filing does not state total proceeds, reasons for the plan, or any change to ownership percentage beyond the share counts shown.

Corporate Governance Expert

TL;DR: Insider sales were pre-planned under governance-compliant procedures; disclosure appears complete for reported transactions.

The Form 4 identifies Joseph Gebbia as both a director and a 10% owner and discloses sales executed under a documented Rule 10b5-1 plan. The filing includes weighted-average price ranges and footnote commitments to provide detailed per-trade pricing on request, which aligns with strong disclosure practice. There is no indication in the document of any amendment, unusual vesting event, or change in control. Material context such as total pre- and post-transaction ownership percentage or rationale for the plan is not provided in this filing.

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)
08/18/2025

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	08/18/2025		S(1)		27,274	D	$124.7853(2)	208,741	I	By Sycamore Trust
Class A Common Stock	08/18/2025		S(1)		208,726	D	$125.4407(3)	15	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 $124.49 to $124.995. 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 $125.00 to $125.89. 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	08/20/2025
	** 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).
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FAQ

What shares did Joseph Gebbia sell according to the ABNB Form 4?

The Form 4 reports dispositions of 27,274, 208,726, and 2,860 shares of Class A common stock on 08/18/2025.

Were the ABNB sales by Joseph Gebbia part of a 10b5-1 plan?

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

What prices were reported for the ABNB share sales?

The filing provides weighted-average price ranges: one set between $124.49 and $124.995 and another between $125.00 and $125.89.

Does the Form 4 show post-transaction ownership for Gebbia?

The filing shows certain post-transaction beneficial ownership counts on the table lines, but it does not provide a clear consolidated post-transaction ownership percentage in the narrative.

Who signed the Form 4 for Joseph Gebbia?

The Form 4 was signed by /s/ Brian Savage, Attorney-in-fact on behalf of the reporting person with the signature date 08/20/2025.