LegalZoom (NASDAQ: LZ) CLO reports share withholding for taxes
Rhea-AI Filing Summary
LEGALZOOM.COM, INC. chief legal officer Nicole Miller reported an automatic tax-related share disposition. On this Form 4, 32,269 shares of common stock were withheld at a price of $6.87 per share when restricted stock units vested to cover her tax withholding obligations. After this withholding, she directly owned 836,358 shares of LegalZoom common stock. This was not an open-market sale but a payment of tax liability by delivering shares.
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Insider Trade Summary
Net Seller: 32,269 shares
Net Sell
1 txn
Insider
Miller Nicole
Role
CHIEF LEGAL OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 32,269 | $6.87 | $222K |
Holdings After Transaction:
Common Stock — 836,358 shares (Direct)
Footnotes (1)
- F1. This transaction represents the automatic withholding of shares of the Issuer's common stock upon the vesting of restricted stock units in order to satisfy the Reporting Person's tax withholding obligations.
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FAQ
What insider transaction did LegalZoom (LZ) report for Nicole Miller?
LegalZoom reported that chief legal officer Nicole Miller had 32,269 common shares automatically withheld. The withholding occurred when restricted stock units vested, and the shares were used to satisfy her tax withholding obligations rather than being sold on the open market.
Was Nicole Miller’s LegalZoom (LZ) Form 4 transaction an open-market sale?
No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were automatically withheld upon restricted stock unit vesting to pay tax liabilities, classified under transaction code F for payment of exercise price or tax liability by delivering securities.
What does transaction code F mean in the LegalZoom (LZ) Form 4 filing?
Transaction code F on the LegalZoom Form 4 indicates payment of an exercise price or tax liability by delivering securities. In this case, it reflects automatic withholding of common shares upon restricted stock unit vesting to satisfy Nicole Miller’s tax withholding obligations.