Form 4 • Statement of Changes in Beneficial Ownership
Type
Sell
Net shares
-76,923
% of shares
-7.99%
Amount (USD)
$13,941,970
Insider confidence score
26.3 out of 100
Positive
Negative
Security
Class A Common Stock
Action
Exercise
Date
2026-03-03
Code
C
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
34,514.0
Shares Owned After
60,155.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-03
Code
S
Net shares
-7,354.0
Price per Share
$174.08
Amount (USD)
$1,280,205.65
Acquired/Disposed
Disposed
Shares Owned Before
60,155.0
Shares Owned After
52,801.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-03
Code
S
Net shares
-17,423.0
Price per Share
$174.78
Amount (USD)
$3,045,184.97
Acquired/Disposed
Disposed
Shares Owned Before
52,801.0
Shares Owned After
35,378.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-03
Code
S
Net shares
-864.0
Price per Share
$175.65
Amount (USD)
$151,759.87
Acquired/Disposed
Disposed
Shares Owned Before
35,378.0
Shares Owned After
34,514.0
Security
Class A Common Stock
Action
Exercise
Date
2026-03-04
Code
C
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
34,514.0
Shares Owned After
60,155.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-04
Code
S
Net shares
-11,477.0
Price per Share
$179.05
Amount (USD)
$2,054,936.19
Acquired/Disposed
Disposed
Shares Owned Before
60,155.0
Shares Owned After
48,678.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-04
Code
S
Net shares
-11,867.0
Price per Share
$179.96
Amount (USD)
$2,135,622.11
Acquired/Disposed
Disposed
Shares Owned Before
48,678.0
Shares Owned After
36,811.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-04
Code
S
Net shares
-2,297.0
Price per Share
$180.76
Amount (USD)
$415,214.45
Acquired/Disposed
Disposed
Shares Owned Before
36,811.0
Shares Owned After
34,514.0
Security
Class A Common Stock
Action
Exercise
Date
2026-03-05
Code
C
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
34,514.0
Shares Owned After
60,155.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-05
Code
S
Net shares
-1,226.0
Price per Share
$187.10
Amount (USD)
$229,381.90
Acquired/Disposed
Disposed
Shares Owned Before
60,155.0
Shares Owned After
58,929.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-05
Code
S
Net shares
-7,038.0
Price per Share
$187.86
Amount (USD)
$1,322,124.19
Acquired/Disposed
Disposed
Shares Owned Before
58,929.0
Shares Owned After
51,891.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-05
Code
S
Net shares
-1,526.0
Price per Share
$188.83
Amount (USD)
$288,147.56
Acquired/Disposed
Disposed
Shares Owned Before
51,891.0
Shares Owned After
50,365.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-05
Code
S
Net shares
-9,805.0
Price per Share
$190.11
Amount (USD)
$1,864,030.51
Acquired/Disposed
Disposed
Shares Owned Before
50,365.0
Shares Owned After
40,560.0
Security
Class A Common Stock
Action
Sell
Date
2026-03-05
Code
S
Net shares
-6,046.0
Price per Share
$191.10
Amount (USD)
$1,155,362.79
Acquired/Disposed
Disposed
Shares Owned Before
40,560.0
Shares Owned After
34,514.0
Security
Employee Stock Option (right to buy)
Action
Exercise
Date
2026-03-03
Code
M
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
1,594,864.0
Shares Owned After
1,569,223.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-03
Code
M
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
0.0
Shares Owned After
25,641.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-03
Code
C
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
25,641.0
Shares Owned After
0.0
Security
Employee Stock Option (right to buy)
Action
Exercise
Date
2026-03-04
Code
M
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
1,569,223.0
Shares Owned After
1,543,582.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-04
Code
M
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
0.0
Shares Owned After
25,641.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-04
Code
C
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
25,641.0
Shares Owned After
0.0
Security
Employee Stock Option (right to buy)
Action
Exercise
Date
2026-03-05
Code
M
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
1,543,582.0
Shares Owned After
1,517,941.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-05
Code
M
Net shares
+25,641.0
Acquired/Disposed
Acquired
Shares Owned Before
0.0
Shares Owned After
25,641.0
Security
Class B Common Stock
Action
Exercise
Date
2026-03-05
Code
C
Net shares
-25,641.0
Acquired/Disposed
Disposed
Shares Owned Before
25,641.0
Shares Owned After
0.0
1. Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the reporting person's election and has no expiration date.
2. The shares are held of record by The Sutherland/Zatlyn Revocable Trust dated November 17, 2016, for which the reporting person serves as co-trustee (the "Revocable Trust").
3. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 14, 2025.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $173.30 to $174.29, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (4) through (14) to this Form 4.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $174.30 to $175.29, inclusive.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $175.30 to $176.01, inclusive.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $178.53 to $179.52, inclusive.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $179.53 to $180.52, inclusive.
9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.53 to $181.07, inclusive.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $186.38 to $187.33, inclusive.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.38 to $188.335, inclusive.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.425 to $189.38, inclusive.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.605 to $190.60, inclusive.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.61 to $191.435, inclusive.
15. The shares are held of record by The SZ 2021 Irrevocable Trust dated November 6, 2021, for which the reporting person serves as the appointer.
16. Shares subject to the option are fully vested and immediately exercisable.
17. Upon the conversion of the shares of Class B Common Stock to Class A Common Stock, the shares were re-registered and are now held of record by the Revocable Trust.
18. The shares are held of record by The SZ 2020 Irrevocable Trust dated November 25, 2020, for which the reporting person serves as an investment advisor.
19. The shares are held of record by The SZ 2023 Irrevocable Trust dated August 29, 2023, for which the reporting person serves as a co-trustee.
20. The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust dated May 29, 2024, for which the reporting person serves as co-trustee.
21. The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust II dated August 19, 2024, for which the reporting person serves as co-trustee.
22. The shares are held of record by The Sutherland/Zatlyn 2024 Annuity Trust III dated November 12, 2024, for which the reporting person serves as co-trustee.
23. The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust dated May 23, 2025, for which the reporting person serves as trustee.
24. The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust II dated August 15, 2025, for which the reporting person serves as trustee.
25. The shares are held of record by The Sutherland/Zatlyn 2025 Annuity Trust III dated November 11, 2025, for which the reporting person serves as trustee.
ℹ️ Filed under Rule 10b5-1 trading plan
This page is for informational purposes only. While we strive for accuracy, the summary may contain inaccuracies or omissions. Please refer to the official SEC filing for authoritative information. Open the SEC filing.