[Form 4] Venu Holding Corporation Insider Trading Activity

Rhea-AI Filing Summary

LegalZoom.com, Inc. (LZ) - SEC Form 4 Insider Filing

Chief Operating Officer & CFO Noel Bertram Watson reported an automatic share disposition on 07/09/2025 under transaction code F (shares withheld to satisfy tax obligations on vested RSUs). A total of 48,516 common shares were withheld at an implied price of $8.97 per share. Following the transaction, Watson directly owns 1,793,097 shares of LegalZoom common stock.

No open-market sales or derivative transactions were disclosed, and the filing reflects a routine tax-related adjustment rather than a strategic change in ownership. Insider alignment remains strong given the sizeable post-transaction holding.

Positive

• 1,793,097 shares remain under direct ownership, indicating sustained insider commitment.
• Disposition was a tax-withholding event, not an open-market sale, limiting negative market interpretation.

Negative

• 48,516 shares were surrendered, marginally reducing the CFO’s stake.

Insights

Securities Analyst

TL;DR: Routine tax withholding; minimal market impact; CFO still holds 1.79 M shares.

The code F designation confirms these shares were surrendered to cover withholding taxes on vested RSUs, not sold for liquidity. With less than 3% of the officer’s stake affected, the transaction is operational and should not signal bearish sentiment. Insider ownership remains high, which generally aligns management’s interests with shareholders and is often viewed positively by governance screens. Given the modest dollar value (~$435k) relative to LegalZoom’s market cap, I classify the filing as not materially impactful for valuation or sentiment.

Corporate Governance Expert

TL;DR: Governance-neutral disclosure; standard compliance under Section 16(a).

Form 4 filings with code F are common when RSUs vest. The officer’s prompt reporting and continued large ownership stake demonstrate compliance and alignment with governance best practices. No red flags arise from the disposition size or method. Therefore, the event is largely procedural, with neutral governance impact.

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^*

Atkinson Heather

(Last) (First) (Middle)

C/O VENU HOLDING CORPORATION

1755 TELSTAR DRIVE, SUITE 501

(Street)

COLORADO SPRINGS CO 80920

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Venu Holding Corp [ VENU ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/08/2025

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	07/08/2025		S		310	D	$12.88	144,545	D
Common Stock	07/09/2025		S		277	D	$12.31	144,268	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:

	/s/ Heather Atkinson	07/10/2025
	** 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 LegalZoom (LZ) report in the latest Form 4?

The filing shows CFO Noel Watson had 48,516 shares withheld for taxes on 07/09/2025.

Was the transaction an open-market sale?

No. It was coded F, indicating automatic share withholding to cover RSU tax obligations.

How many LegalZoom shares does the CFO now own?

After the transaction, the CFO directly owns 1,793,097 common shares.

Does the Form 4 include any derivative security activity?

No derivative securities were acquired or disposed of in this filing.

Is this Form 4 likely to affect LZ’s stock price?

Because the event is routine and small relative to LegalZoom’s float, it is generally viewed as neutral for share price.