[Form 4] Ermenegildo Zegna N.V. Insider Trading Activity

Rhea-AI Filing Summary

Ermenegildo Zegna N.V.’s Group CFO Gian Franco Santhia exercised 15,600 restricted share units (RSUs) into Ordinary Shares on a one-for-one basis. In connection with this vesting, he sold 5,768 Ordinary Shares in the market solely to satisfy tax withholding obligations.

The tax-related sale was executed at a weighted average price of $13.12 per share, with individual trades ranging from $12.98 to $13.30. Following these transactions, he directly holds 44,448 Ordinary Shares.

Insider Trade Summary

Net Seller: 5,768 shares ($75,676)

Net Sell 3 txns

Insider Santhia Gian Franco

Role Group Chief Financial Officer

Sold 5,768 shs ($76K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares, nominal value Euro 0.02 per share	5,768	$13.12	$76K
Exercise	Restricted Share Units	15,600	$0.00	--
Exercise	Ordinary Shares, nominal value Euro 0.02 per share	15,600	$0.00	--

Holdings After Transaction: Ordinary Shares, nominal value Euro 0.02 per share — 44,448 shares (Direct, null); Restricted Share Units — 0 shares (Direct, null)

Footnotes (1)

1. Restricted share units ("RSUs") convert into Ordinary Shares on a one-for-one basis. The reporting person sold 5,768 Ordinary Shares upon the vesting of a RSU award granted to him on February 22, 2022, solely to satisfy tax withholding obligations incurred upon vesting. The price reported in Column 4 is a weighted average price. These Ordinary Shares were sold in multiple transactions at prices ranging from $12.98 to $13.30, inclusive. The reporting person undertakes to provide Ermenegildo Zegna N.V., any security holder of Ermenegildo Zegna N.V., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Ordinary Shares sold at each separate price within the range set forth in footnote (3) to this Form 4. As previously reported, the reporting person was granted 15,600 RSUs under the Long-Term Incentive Awards 2022-2025, vesting in May 2026.

Form 4 Insider Transactions: What Each Field Means →

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
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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).

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^*

Santhia Gian Franco

(Last) (First) (Middle)

C/O ERMENEGILDO ZEGNA N.V.

VIALE ROMA 99/100

(Street)

VALDILANA LOC. TRIVERO 13835

(City) (State) (Zip)

ITALY

(Country)

2. Issuer Name and Ticker or Trading Symbol
Ermenegildo Zegna N.V. [ ZGN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Ordinary Shares, nominal value Euro 0.02 per share	05/07/2026		M		15,600	A	(1)	50,216	D
Ordinary Shares, nominal value Euro 0.02 per share	05/08/2026		S(2)		5,768	D	$13.12(3)	44,448	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
Restricted Share Units	(1)	05/07/2026		M			15,600	(4)	(4)	Ordinary Shares, nominal value Euro 0.02 per share	15,600	$0	0	D

Explanation of Responses:

1. Restricted share units ("RSUs") convert into Ordinary Shares on a one-for-one basis.

2. The reporting person sold 5,768 Ordinary Shares upon the vesting of a RSU award granted to him on February 22, 2022, solely to satisfy tax withholding obligations incurred upon vesting.

3. The price reported in Column 4 is a weighted average price. These Ordinary Shares were sold in multiple transactions at prices ranging from $12.98 to $13.30, inclusive. The reporting person undertakes to provide Ermenegildo Zegna N.V., any security holder of Ermenegildo Zegna N.V., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Ordinary Shares sold at each separate price within the range set forth in footnote (3) to this Form 4.

4. As previously reported, the reporting person was granted 15,600 RSUs under the Long-Term Incentive Awards 2022-2025, vesting in May 2026.

Remarks:

	/s/ Delphine Carole Gieux, attorney-in-fact	05/11/2026
	** 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.
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* Form 4: SEC 1474 (03-26)