System1, INC

Market Movers (8-K)

NYSE
System1, Inc. announced the successful consummation of a debt exchange transaction and the appointment of Robert Sharp as a director following its annual meeting.
Capital raise
NYSE
System1 announced a comprehensive debt exchange transaction with its lenders, replacing existing debt with a new term loan, convertible preferred stock, and a cash payment, aimed at strengthening its capital structure.
Delay expected
Capital raise
NYSE
System1, Inc. reported its first quarter 2026 financial results, revealing a significant decrease in revenue and a widening net loss compared to the previous year.
Worse than expected
NYSE
Frank Martire Jr. has resigned from System1, Inc.'s Board of Directors, effective January 9, 2026, with no reported disagreements.
NYSE
System1, Inc. received a notice from the NYSE for non-compliance with listing standards due to its market capitalization and stockholders' equity falling below required thresholds.
Worse than expected
NYSE
System1's largest individual shareholder, Cannae Holdings, LLC, sold its entire stake to a new entity formed by company management and directors, leading to the resignation of director Ryan Caswell.

Quarterly Earnings (10-Q)

NYSE
System1, Inc. reported a 50% year-over-year revenue decline for the first quarter of 2026, alongside a substantial impairment charge, raising concerns about its ability to continue as a going concern.
Worse than expected
NYSE
System1, Inc. reported a significant revenue decrease for Q3 2025 and the nine-month period, alongside identified material weaknesses in internal financial controls and new legal proceedings.
Capital raise
Worse than expected
NYSE
System1, Inc. reported a significant revenue decrease in Q2 2025, but managed to narrow its operating and net losses, while also disclosing material weaknesses in internal financial controls.
Capital raise
Worse than expected
NYSE
System1, Inc. reports a decrease in revenue and an increased net loss for the quarter ended March 31, 2025, while also disclosing material weaknesses in its internal control over financial reporting.
Worse than expected
Capital raise
NYSE
System1 Inc. reports its third quarter 2024 financial results, showing a slight revenue increase but ongoing losses and internal control weaknesses.
Worse than expected
NYSE
System1 Inc. announced its second quarter 2024 financial results, revealing a net loss but also highlighting strategic moves including debt reduction and a corporate reorganization.
Worse than expected

Annual Reports (10-K)

NYSE
System1, Inc. files an amendment to its 2024 annual report on Form 10-K to include information on directors, executive compensation, and related matters previously intended to be incorporated by reference from a proxy statement.
Delay expected
NYSE
System1, Inc. details its financial performance for the year ended December 31, 2024, highlighting strategic shifts and operational results following a corporate reorganization and the sale of its Protected business.
Worse than expected
NYSE
System1 Inc. has filed an amendment to its annual report to include a previously omitted executive compensation recovery analysis, which ultimately required no adjustments.
NYSE
System1, Inc.'s 2023 10-K filing reveals a year of strategic changes, including the sale of its Protected business, alongside financial results impacted by macroeconomic headwinds and internal control weaknesses.
Worse than expected

Insider Trading (Form 4)

NYSE
Elizabeth Sestanovich, Chief People Officer of System1, Inc., reported a transaction in 7,058 shares of common stock on July 15, 2026.
NYSE
Brian Coppola, Chief Ad Operations Officer of System1, Inc., reported a transaction in 6,124 shares of common stock on July 15, 2026.
NYSE
Tridivesh Kidambi, Chief Financial Officer of System1, Inc., reported a transaction in 6,022 shares of common stock on July 15, 2026.
NYSE
Daniel J Weinrot, General Counsel & Secretary of System1, Inc., reported a transaction in 9,156 shares of common stock on July 15, 2026.
NYSE
System1, Inc. CFO Tridivesh Kidambi was granted 35,300 fully vested restricted stock units.
NYSE
System1's Chief Financial Officer acquired 26,910 shares in a private transaction, signaling confidence in the company's valuation.
Better than expected

Proxy Statements (Def-14A)

NYSE
System1, Inc. announces its annual meeting of stockholders to be held virtually on June 10, 2025, featuring proposals for director elections, auditor ratification, a reverse stock split, and amendments to incentive award plans.
Worse than expected
NYSE
System1 is adding a proposal to its annual meeting agenda to allow for a reorganization of its subsidiaries to create a more efficient ownership structure.
NYSE
System1 is seeking stockholder approval for an amendment to its Certificate of Incorporation to facilitate a more efficient subsidiary ownership structure.
NYSE
System1, Inc. is holding its annual meeting of stockholders on June 11, 2024, to vote on the election of directors, ratification of the company's auditor, and approval of a new stock appreciation rights plan.

Schedule 13D - Activist Investments

NYSE
Cannae Holdings, LLC sold 2.34 million shares of System1, Inc. Class A common stock for approximately $10 million, reducing its beneficial ownership to 4.4%.
Worse than expected
NYSE
Cannae Holdings, Inc. and Cannae Holdings, LLC updated their beneficial ownership in System1, Inc. to 33.2% of Class A common stock due to an increase in outstanding shares.
NYSE
The Blend Family Foundation, linked to System1, Inc.'s CEO Michael Blend, has disclosed a 7.0% beneficial ownership stake in the company following a private placement of 4.5 million Class A Common Stock shares at $0.50 each.
Capital raise
NYSE
Cannae Holdings, Inc. and Cannae Holdings, LLC have filed an amended Schedule 13D, reporting a 36.3% beneficial ownership in System1, Inc.'s Class A common stock, a change driven by an increase in the Issuer's total outstanding shares.

Schedule 13G - Passive Investments

NYSE
William P. Foley, II and Trasimene Trebia, LLC have updated their beneficial ownership in System1, Inc. Class A Common Stock to 4.8%.