[Form 4] Airbnb, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Airbnb Director and 10% owner Joseph Gebbia executed significant stock sales on June 23, 2025 through his Sycamore Trust, according to a Form 4 filing. The transactions were conducted under a pre-established Rule 10b5-1 trading plan adopted on February 26, 2025.

The insider disposed of a total of 236,000 shares of Class A Common Stock in multiple transactions at varying price points:

• 20,136 shares at average price of $127.74
• 50,488 shares at average price of $128.49
• 85,019 shares at average price of $129.57
• 80,357 shares at average price of $130.39

Following these transactions, Gebbia maintains 944,015 shares indirectly through the Sycamore Trust and 2,860 shares directly. The sales represent a significant reduction in his indirect holdings, executed at prices ranging from $127.09 to $130.75 per share.

Positive

• None.

Negative

• Director and 10% owner Joseph Gebbia sold 236,000 shares worth approximately $30.4M through a pre-planned 10b5-1 trading plan, reducing his indirect holdings through Sycamore Trust by about 20% from 1.16M to 944K shares

Insights

Insider Trading Analyst

Co-founder Joseph Gebbia sold 236,000 Airbnb shares worth ~$30M via planned Rule 10b5-1 sale, retaining significant ownership position.

This Form 4 filing reveals Joseph Gebbia, Airbnb co-founder who serves as both a Director and 10%+ owner, sold a substantial block of 236,000 Class A common shares on June 23, 2025. The sales were executed through the Sycamore Trust at weighted average prices ranging from $127.74 to $130.39 per share, generating approximately $30.5 million in proceeds.

The transactions were made under a Rule 10b5-1 trading plan established on February 26, 2025, indicating this was a pre-planned sale rather than a spontaneous decision. Such plans allow insiders to sell shares on a predetermined schedule regardless of any material non-public information they may possess later.

Following these transactions, Gebbia still maintains 944,015 shares indirectly through the Sycamore Trust and 2,860 shares directly, representing a significant retention of equity interest worth approximately $122 million at current trading prices. This level of continued ownership suggests the sales likely represent normal portfolio diversification rather than a lack of confidence in Airbnb's prospects.

The percentage of Gebbia's holdings sold (approximately 20% of his trust-held shares) is meaningful but not alarming, particularly given his status as a long-term holder since the company's founding. The transaction timing and structured nature align with typical insider liquidity management practices rather than signaling any immediate concerns about company performance.

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
Estimated average burden
hours per response:			0.5

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)
06/23/2025

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	06/23/2025		S(1)		20,136	D	$127.7351(2)	1,159,879	I	By Sycamore Trust
Class A Common Stock	06/23/2025		S(1)		50,488	D	$128.4875(3)	1,109,391	I	By Sycamore Trust
Class A Common Stock	06/23/2025		S(1)		85,019	D	$129.5712(4)	1,024,372	I	By Sycamore Trust
Class A Common Stock	06/23/2025		S(1)		80,357	D	$130.3934(5)	944,015	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 $127.09 to $127.99. 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 $128.00 to $128.99. 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 $129.00 to $129.99. 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 $130.00 to $130.75. 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	06/25/2025
	** 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

How many ABNB shares did Joseph Gebbia sell on June 23, 2025?

Joseph Gebbia sold a total of 236,000 shares of Airbnb Class A Common Stock on June 23, 2025, broken down into four transactions: 20,136 shares, 50,488 shares, 85,019 shares, and 80,357 shares.

What was the price range of ABNB stock sales by Joseph Gebbia in the June 23 transactions?

The shares were sold at weighted average prices ranging from $127.09 to $130.75. Specifically: $127.09-127.99 for the first batch, $128.00-128.99 for the second batch, $129.00-129.99 for the third batch, and $130.00-130.75 for the fourth batch.

How many ABNB shares does Joseph Gebbia still own after these transactions?

After these transactions, Joseph Gebbia owns 944,015 shares indirectly through the Sycamore Trust and 2,860 shares directly, for a total of 946,875 shares of Airbnb Class A Common Stock.

Was Joseph Gebbia's ABNB stock sale part of a planned transaction?

Yes, the sales were executed pursuant to a Rule 10b5-1 trading plan that was adopted on February 26, 2025. This type of plan allows insiders to sell shares according to a predetermined schedule to avoid accusations of insider trading.

What is Joseph Gebbia's relationship to Airbnb (ABNB)?

Joseph Gebbia serves as both a Director and a 10% Owner of Airbnb, Inc., as indicated in Section 5 of the Form 4 filing where both boxes are checked.