[Form 4] LegalZoom.com, Inc. Insider Trading Activity
Insider transaction summary for LegalZoom.com, Inc. (LZ): Jeffrey M. Stibel, who serves as Director and Chief Executive Officer, reported a disposition of 77,479 shares of the issuer's common stock on 08/15/2025. The Form 4 states the shares were automatically withheld upon the vesting of restricted stock units to satisfy the reporting person’s tax withholding obligations at a price of $10.72 per share. After the withholding transaction, Mr. Stibel is reported to beneficially own 2,486,401 shares directly and multiple additional indirect holdings through various trusts and investment vehicles, including Bryant-Stibel Fund I LLC and several named trusts. The filer disclaims beneficial ownership of certain trust holdings except to the extent of pecuniary interest.
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Insights
TL;DR: Routine tax-withholding share disposition by CEO; ownership remains substantial and transaction is non-material for corporate control.
The Form 4 documents an automatic withholding of 77,479 shares tied to RSU vesting, executed at $10.72 per share. Such withholding to satisfy tax obligations is a common, non-discretionary event and typically does not reflect voluntary selling pressure. Post-transaction, Mr. Stibel retains a large direct stake of 2,486,401 shares and multiple indirect positions through funds and trusts, indicating continued alignment with shareholders. There is no indication of additional open-market sales or transfers that would suggest a change in control or liquidity event.
TL;DR: Disclosure is standard and properly notes indirect holdings and disclaimer; no governance red flags apparent.
The filing clearly identifies the reporting person’s roles and relationship to the issuer and discloses indirect holdings and a disclaimer of beneficial ownership for certain trust assets. The transaction code and explanatory note state the disposition was for tax withholding upon RSU vesting, consistent with Rule 16 reporting practices. Documentation is signed by an attorney-in-fact, meeting execution requirements. There are no timely indications of director departures, new compensation arrangements, or related-party transfers in this filing.