LZ LEGALZOOM.COM, INC.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q2 2026: $20M, Q1 2026: $0M, Q3 2025: $26M, Q2 2025: $124M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $20M vs trailing avg $50M (-59%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-77M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 36,800,000 shares = 20.7% of 177,624,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by Stibel Jeffrey M

• Stibel Jeffrey M (Chief Executive Officer) bought 125,000 shares at $6.15 on 2026-05-11

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters but insufficient insider buying

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $3M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 5.5x more than bought. 2 C-suite officers among sellers

• Watson Noel Bertram (Chief Operating Officer & CFO) sold 416,371 shares on 2026-08-20
• Watson Noel Bertram (Chief Operating Officer & CFO) sold 83,629 shares on 2026-08-21
• Miller Nicole (CHIEF LEGAL OFFICER) sold 43,996 shares on 2026-08-17
• Miller Nicole (CHIEF LEGAL OFFICER) sold 33,479 shares on 2026-08-18
• Miller Nicole (CHIEF LEGAL OFFICER) sold 19,199 shares on 2026-05-19
• Watson Noel Bertram (Chief Operating Officer & CFO) sold 15,000 shares on 2026-05-18
• Miller Nicole (CHIEF LEGAL OFFICER) sold 23,325 shares on 2026-02-26
• Watson Noel Bertram (Chief Operating Officer & CFO) sold 15,000 shares on 2026-02-18
• Miller Nicole (CHIEF LEGAL OFFICER) sold 23,506 shares on 2025-11-18
• Watson Noel Bertram (Chief Operating Officer & CFO) sold 15,000 shares on 2025-11-18