Form 4: LegalZoom Insider Trades Common Stock

Nicole Miller, Chief Legal Officer at LegalZoom.com, Inc., reported transactions involving the acquisition and disposition of company common stock.

Summary

• Nicole Miller, Chief Legal Officer of LegalZoom.com, Inc., engaged in transactions involving the company's common stock.
• On May 15, 2026, 46,749 shares of common stock were acquired through the automatic withholding of shares upon the vesting of restricted stock units to cover tax obligations.
• On May 19, 2026, 19,199 shares of common stock were disposed of.
• These dispositions were made pursuant to a Rule 10b5-1 trading plan adopted by Ms. Miller on November 9, 2025.
• Following these transactions, Ms. Miller beneficially owns 1,119,222 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While it involves insider transactions, the use of a Rule 10b5-1 plan and the nature of the acquisition (tax withholding) suggest routine corporate activity rather than a strong signal of positive or negative company outlook.

Positives

• The acquisition of shares on May 15, 2026, represents the satisfaction of tax obligations related to vested restricted stock units, a common and expected event for executives.
• The disposition of shares on May 19, 2026, was executed under a pre-established Rule 10b5-1 trading plan, indicating a structured and pre-planned approach to managing personal holdings.
• Ms. Miller continues to hold a significant number of shares (1,119,222) directly, suggesting continued beneficial ownership and alignment with the company's performance.

Negatives

• The disposition of 19,199 shares represents a reduction in Ms. Miller's direct holdings, although executed under a pre-planned strategy.

Risks

• The Rule 10b5-1 trading plan, while providing an affirmative defense against insider trading allegations, involves the sale of company stock, which could be perceived negatively by the market if not contextualized.
• Any future sales under the 10b5-1 plan could lead to a further reduction in insider holdings, potentially impacting investor sentiment.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports on past transactions.

Management Comments

• The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 9, 2025.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine for publicly traded companies and provide transparency into insider transactions. The use of a Rule 10b5-1 plan by LegalZoom's Chief Legal Officer is a standard practice for executives to manage their stock holdings in a compliant manner.

Stakeholder Impact

• Shareholders: The disposition of shares by an insider, even under a pre-planned 10b5-1, may be monitored by shareholders, though the plan itself is designed to mitigate concerns about opportunistic trading.
• Employees: The tax withholding aspect of the acquisition highlights a common benefit and obligation for employees holding equity awards.
• Management: The filing demonstrates adherence to regulatory requirements for reporting insider transactions.

Key Dates

Keywords

LegalZoom.com, LZ, Form 4, Insider Trading, Beneficial Ownership, Common Stock, Restricted Stock Units, Rule 10b5-1, Nicole Miller, Chief Legal Officer, SEC Filing