LZ Insider Watson Reports 45,455-Share Disposition; 1.68M Shares Remain

Rhea-AI Filing Summary

Noel Bertram Watson, LegalZoom.com (LZ) Chief Operating Officer & Chief Financial Officer, reported insider sales executed under a pre-established Rule 10b5-1 trading plan. The filing shows sales of 18,136 shares on 08/22/2025 at a weighted average price of $11.033 and 27,319 shares on 08/25/2025 at a weighted average price of $11.073. After these disposals the filing reports beneficial ownership of 1,676,426 shares. The filer states the sales were effected pursuant to a 10b5-1 plan adopted May 20, 2025 and provides price ranges for the multiple transactions that composed the weighted averages.

Positive

• Sales were executed under a documented Rule 10b5-1 trading plan, providing an affirmative defense and procedural clarity
• Reporting person retains substantial beneficial ownership after the transactions (1,676,426 shares), indicating continued alignment with shareholders
• Filing includes weighted-average prices and price ranges and offers to provide per-price breakdowns on request, enhancing transparency

Negative

• Reporting person disposed of 45,455 shares (18,136 on 08/22/2025 and 27,319 on 08/25/2025), reducing beneficial holdings
• Transaction prices indicate sales around $11.00–$11.285, which may be viewed unfavorably if the market interprets insider selling negatively

Insights

Corporate Governance Expert

TL;DR: Insider sales were executed under a documented 10b5-1 plan; continued substantial ownership remains.

The reported transactions are routine dispositions under a pre-established Rule 10b5-1 plan adopted May 20, 2025, which provides an affirmative defense under SEC trading rules when properly implemented. The filings disclose weighted-average sale prices and preserve transparency by offering to supply per-price breakdowns on request. The reporting person remains a large beneficial owner with 1,676,426 shares after the sales, which mitigates governance concerns about immediate loss of alignment with shareholders.

Securities Analyst

TL;DR: Two separate sales totaling 45,455 shares at ~ $11.03–$11.07 were reported; amount appears limited relative to total holdings.

The filing shows aggregate sales of 45,455 shares across two dates with weighted-average prices reported and detailed price ranges provided in the explanations. The disclosure is specific and complies with Section 16 reporting requirements. From an investor-signals perspective, the sales are documented under a 10b5-1 plan, reducing the likelihood they reflect new material company information. The reporting person retains a sizable post-sale position of 1,676,426 shares.

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^*

Watson Noel Bertram

(Last) (First) (Middle)

954 VILLA STREET

(Street)

MOUNTAIN VIEW CA 94041

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LEGALZOOM.COM, INC. [ LZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer & CFO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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
Common Stock	08/22/2025		S		18,136(1)	D	$11.033(2)	1,703,745	D
Common Stock	08/25/2025		S		27,319(1)	D	$11.073(3)	1,676,426	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. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 20, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.10, inclusive. 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 above.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.285, inclusive. 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 above.

Remarks:

	/s/ Michelle Sparks, Attorney-in-Fact for Noel Bertram Watson	08/26/2025
	** 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 did LZ insider Noel Bertram Watson sell and when?

The filing reports sales of 18,136 shares on 08/22/2025 at a weighted average price of $11.033 and 27,319 shares on 08/25/2025 at a weighted average price of $11.073.

Were the sales by the LZ insider part of a pre-planned trading program?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted May 20, 2025 as stated in the filing.

How many LegalZoom (LZ) shares does the reporting person own after these transactions?

Following the reported transactions the filing shows beneficial ownership of 1,676,426 shares.

Does the Form 4 provide specific prices for each sale?

The Form 4 reports weighted-average prices and price ranges for the multiple transactions; the filer offers to provide the exact number of shares sold at each separate price upon request.

Who filed the Form 4 and in what capacity is the person related to LegalZoom?

The reporting person is Noel Bertram Watson, identified as Chief Operating Officer & Chief Financial Officer and a director of LegalZoom.com, Inc. (LZ).