LZ Insider Filing: 33,035 Shares Withheld; 25,154 Sold Under 10b5-1 Plan
Rhea-AI Filing Summary
Nicole Miller, Chief Legal Officer of LegalZoom.com, Inc. (LZ), reported two transactions in August 2025. On 08/15/2025 she had 33,035 shares withheld by the company to satisfy tax withholding upon the vesting of restricted stock units, leaving her beneficial ownership at 985,186 shares. On 08/19/2025 she sold 25,154 shares under a Rule 10b5-1 trading plan adopted May 19, 2025, for proceeds at an average price of $10.82, leaving beneficial ownership of 960,032 shares. The Form 4 is signed by an attorney-in-fact on her behalf.
Positive
- Sale executed under a Rule 10b5-1 trading plan, indicating a pre-established, non-discretionary method for trading
- Tax withholding handled by share withholding upon RSU vesting, a routine and administratively standard action
Negative
- Insider beneficial ownership decreased from 985,186 to 960,032 shares following withholding and sale
Insights
TL;DR: Insider used standard mechanisms: tax withholding on RSU vesting and a pre-established 10b5-1 plan to sell shares, both routine disclosures.
The Form 4 shows two routine, non-discretionary events: automatic share withholding to cover taxes when restricted stock units vested and a sale under a Rule 10b5-1 trading plan adopted 05/19/2025. These actions are consistent with established compliance practices to manage equity compensation and avoid potential insider trading issues. No new management departures, amendments, or atypical transactions are disclosed.
TL;DR: The transactions modestly reduce insider stake but do not indicate unusual liquidity needs or material shift in ownership.
The reporting officer's beneficial ownership declined from 985,186 to 960,032 shares following tax-withholding and a sale of 25,154 shares at ~$10.82. The sale was executed under a documented 10b5-1 plan, which typically spaces sales over time. The amounts involved represent a small percentage of reported holdings and are standard for equity-compensation management rather than a material change to control or governance.