Form 4: Angi Inc. Director Glenn Schiffman Reports Share Ownership and RSU Grant Following IAC Spin-Off

Angi Inc. Director Glenn Schiffman filed a Form 4 detailing his beneficial ownership of Class A Common Stock and a new grant of Restricted Stock Units, reflecting adjustments from a recent reverse stock split and the spin-off from IAC Inc.

Summary

• Glenn Schiffman, a Director of Angi Inc. (ANGI), filed a Form 4 reporting changes in his beneficial ownership of company securities.
• Following a 1-for-10 reverse stock split effective March 24, 2025, Mr. Schiffman beneficially owns 34,014 shares of Angi Class A Common Stock directly.
• This includes 32,156 shares received on March 31, 2025, as part of a special dividend from IAC Inc.'s spin-off of Angi, where IAC shareholders received 0.5251 shares of Angi Class A Common Stock for each share of IAC Stock held as of March 25, 2025.
• Mr. Schiffman also acquired 16,436 Restricted Stock Units (RSUs) on June 17, 2025, each representing a contingent right to receive one share of Class A Common Stock.
• These RSUs are scheduled to vest in equal installments over three years on the anniversary of the grant date (June 17, 2025), subject to continued service.
• Vested RSUs will be settled in a lump sum following termination of service, based on a prior deferral election made by the reporting person.

Sentiment

Score: 5

Explanation: The document is a factual report of insider transactions and equity grants, which are routine corporate events. It contains no overtly positive or negative financial performance data, maintaining a neutral sentiment.

Positives

• The director's beneficial ownership of 34,014 shares of Class A Common Stock aligns his financial interests with those of the company's shareholders.
• The grant of 16,436 Restricted Stock Units (RSUs) provides a long-term incentive for the director, linking his compensation to the company's future performance and ensuring continued service.

Negatives

• No specific negative information is presented in this Form 4 filing, as it primarily reports routine ownership changes and equity grants.

Risks

• The value of the Class A Common Stock and the Restricted Stock Units (RSUs) is subject to market fluctuations, which could impact the director's beneficial ownership value.
• The vesting of the RSUs is contingent on continued service, meaning the director would forfeit any unvested units if his service terminates prior to the vesting dates.

Future Outlook

The Restricted Stock Units granted to Glenn Schiffman on June 17, 2025, are scheduled to vest in equal installments over three years from the grant date, contingent upon his continued service. Vested RSUs will be settled in a lump sum following the termination of his service, based on a prior deferral election.

Industry Context

This Form 4 filing is a routine disclosure of insider stock ownership and equity compensation following significant corporate actions, namely a reverse stock split and a spin-off from IAC Inc. Such filings are standard practice for publicly traded companies and their insiders, reflecting changes in beneficial ownership and long-term incentive structures. The spin-off of Angi from IAC Inc. represents a strategic move to separate the businesses, potentially allowing each entity to pursue independent growth strategies and capital allocation decisions, which is a common trend in diversified conglomerates seeking to unlock shareholder value.

Comparison to Industry Standards

• As a Form 4 filing, this document primarily reports individual insider transactions and does not contain company-wide financial performance data suitable for direct comparison to industry-wide financial benchmarks or competitor results.
• The equity grant structure, specifically the use of Restricted Stock Units (RSUs) vesting over three years, is a common long-term incentive mechanism widely adopted across various industries to align executive interests with shareholder value creation and promote retention.
• The spin-off from IAC Inc. is a specific corporate restructuring event, not a direct operational comparison to other companies' projects or results. However, corporate spin-offs are a recognized strategy for unlocking value in diversified holdings, a practice observed across various sectors.

Related Party Transactions

• The reporting person received 32,156 shares of Angi Class A common stock on March 31, 2025, in connection with the completion of the spin-off by IAC Inc. ('IAC') of Angi. IAC was the former parent company of Angi, making this a transaction involving a related entity as part of a corporate restructuring.

Stakeholder Impact

• **Shareholders:** The spin-off from IAC Inc. directly impacted IAC shareholders who received Angi shares as a special dividend. The director's RSU grant aligns his interests with shareholders by tying a portion of his compensation to the company's stock performance and long-term value creation.
• **Employees:** The RSU grant is a form of equity compensation, which is a common tool for retaining and incentivizing key personnel, including directors, by providing a stake in the company's success.

Next Steps

• The Restricted Stock Units (RSUs) granted on June 17, 2025, will vest in equal installments over the next three years, contingent on Glenn Schiffman's continued service to Angi Inc.

Key Dates

Keywords

Angi Inc., ANGI, Glenn Schiffman, Form 4, SEC Filing, Insider Ownership, Restricted Stock Units, RSUs, Stock Split, Spin-off, IAC Inc., Beneficial Ownership, Corporate Governance