LegalZoom (LZ) Chief Legal Officer Nicole Miller Sells Shares

What Happened Nicole Miller, Chief Legal Officer of LegalZoom (LZ), disposed of a total of 124,224 shares in mid-August 2026 for proceeds of $689,616. The activity consisted of 46,749 shares withheld to satisfy tax on vested restricted stock units (RSUs) at $5.62/share ($262,729) and two open-market sales totaling 77,475 shares under a pre-established 10b5-1 plan: 43,996 shares at $5.51 ($242,418) on Aug 17, 2026, and 33,479 shares at $5.51 ($184,469) on Aug 18, 2026. These were disposals (sales/withholding), which are typically routine rather than indicating a purchase-driven bullish signal.

Key Details

• Transaction dates and prices:
  • 2026-08-15: 46,749 shares withheld at $5.62 (tax withholding on RSU vesting) — $262,729.
  • 2026-08-17: 43,996 shares sold at $5.51 (open market, 10b5-1) — $242,418.
  • 2026-08-18: 33,479 shares sold at $5.51 (open market, 10b5-1) — $184,469.
• Total disposed: 124,224 shares for $689,616.
• Shares owned after the transactions: Not specified in the provided filing.
• Footnotes: F1 = automatic share withholding to satisfy tax on vested RSUs; F2 = sales effected pursuant to a Rule 10b5-1 trading plan adopted Nov 9, 2025.
• Filing: Form 4 filed Aug 18, 2026; transactions occurred Aug 15–18, 2026 and the filing appears timely.

Context

• The 46,749-share transaction was a tax-withholding on vested RSUs (a common “cashless” settlement method where shares are retained to cover tax obligations).
• The Aug 17 and Aug 18 sales were executed under a previously adopted 10b5-1 plan, meaning they were pre-arranged according to that plan’s terms rather than ad hoc market-timed trades.