Form 4: LegalZoom CEO Exercises Stock Options Nearing Expiration

LegalZoom's CEO, Jeffrey M. Stibel, exercised stock options at $0.3431 per share, involving both direct and indirect holdings.

Summary

• Jeffrey M. Stibel, CEO of LegalZoom.com, Inc., executed transactions involving LegalZoom's common stock on August 29, 2024.
• Stibel exercised stock options to acquire 62,112 shares at a price of $0.3431 per share, holding them directly.
• He also exercised options to acquire 13,584 shares at the same price, holding them indirectly through Bryant-Stibel Fund I LLC.
• Following these transactions, Stibel directly owns 6,049,906 shares of LegalZoom common stock, which includes 5,350,318 performance-based restricted stock units and 535,031 time-based restricted stock units.
• Stibel also has indirect ownership through various trusts and funds, including CES 2020 Trust (2,807,719 shares), Travron Trust (537,779 shares), Escondido Children's Trust (294,326 shares), and JMS 2020 Trust (2,807,719 shares).

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is considered neutral.

Positives

• The CEO's exercise of stock options could be interpreted as a sign of confidence in the company's future performance.

Management Comments

• The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.

Key Dates