CHENAULT KENNETH I 4

What Happened
Kenneth I. Chenault, a director of Airbnb, exercised options to acquire 8,346 shares and then sold those 8,346 shares in an open-market transaction on June 29, 2026. The exercise price was $59.91 per share (cost = $500,009). The shares were sold the same day at $150.00 per share for gross proceeds of $1,251,900, producing approximately $751,891 in proceeds before taxes and fees. The filing reports the derivative conversion (exercise) and the subsequent sale.

Key Details

• Transaction date: 2026-06-29 (reported on Form 4 filed 2026-07-01). Filing appears to be within the standard two-business-day window.
• Exercise details (Code M): 8,346 shares exercised at $59.91/share; cost $500,009.
• Sale details (Code S): 8,346 shares sold in the open market at $150.00/share; gross proceeds $1,251,900.
• Net proceeds (sale minus exercise cost): ~$751,891 (before taxes/commissions).
• Shares owned after transaction: Not specified in the information provided in this summary.
• Footnotes: Sales were made under a Rule 10b5-1 trading plan adopted Aug 29, 2025 (F1). The option exercised is fully vested and currently exercisable (F2).
• Transaction codes: M = option exercise/derivative conversion; S = sale.

Context
Because the exercise and sale occurred the same day, this functions like a cashless exercise (exercise of options followed by immediate sale of the resulting shares). The sale was executed under a pre-established 10b5-1 plan, which is a preset trading arrangement that can indicate the trades were planned in advance rather than a discretionary sale. This summary is factual and does not speculate on the director’s motives.