Form 4: LegalZoom CLO Sells Shares, Tax Withholding Reported

LegalZoom's Chief Legal Officer, Nicole Miller, reported the sale of shares and tax-related withholding of common stock.

Summary

• Nicole Miller, Chief Legal Officer of LegalZoom.com, Inc. (LZ), reported two transactions involving the company's common stock.
• On November 15, 2025, 203,571 shares of common stock were automatically withheld at a price of $10.01 per share to satisfy tax withholding obligations upon the vesting of restricted stock units.
• Following this tax withholding, Nicole Miller beneficially owned 892,133 shares directly.
• On November 18, 2025, 23,506 shares of common stock were sold at a price of $9.63 per share.
• This sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Nicole Miller on May 19, 2025.
• After both transactions, Nicole Miller directly beneficially owns 868,627 shares of LegalZoom common stock.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions, including tax withholding and a pre-planned sale under a Rule 10b5-1 plan. These are standard events for executives and do not inherently indicate positive or negative sentiment about the company's prospects.

Positives

• The sale of 23,506 shares was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled, non-discretionary transaction rather than an ad-hoc decision, which can be viewed favorably by investors as it reduces concerns about opportunistic insider selling.

Negatives

• The transactions resulted in a reduction of Nicole Miller's direct beneficial ownership of LegalZoom common stock by a total of 227,077 shares.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, common across all publicly traded companies. It reflects an executive's management of their personal equity holdings, often for liquidity or tax planning, and does not inherently reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: The transactions represent a minor reduction in an executive's direct ownership, which is a common occurrence and typically has minimal direct impact on the broader shareholder base or company valuation, especially given the pre-planned nature of the sale.

Key Dates

Keywords

LegalZoom, LZ, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Executive Compensation, Nicole Miller, Rule 10b5-1