Form 4: LegalZoom CEO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
LegalZoom's CEO, Jeffrey M. Stibel, sold shares to cover tax obligations arising from the vesting of restricted stock units.
Summary
- On February 15, 2025, Jeffrey M. Stibel, the CEO of LegalZoom.com, Inc., engaged in a transaction involving the company's common stock.
- Specifically, 16,981 shares were disposed of to cover tax withholding obligations related to the vesting of restricted stock units at a price of $9.18 per share.
- Following this transaction, Stibel directly owns 1,955,568 shares of LegalZoom common stock.
- Additionally, he has indirect ownership through various trusts, including the CES 2020 Trust, Escondido Children's Trust, and Travron Trust, with each holding a significant number of shares.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to stock transactions for tax purposes, which is neither particularly positive nor negative.
Industry Context
Form 4 filings are standard practice for company insiders and officers, like the CEO, to report transactions in their company's stock. This provides transparency to the market.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Date of the transaction involving the disposal of shares to cover tax obligations. |
| 02/19/2025 | Date of signature for the Form 4 filing. |
Keywords
LegalZoom, Stibel, CEO, Form 4, Share Sale, Tax Obligations, Beneficial Ownership, Restricted Stock Units
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