Form 4: IAC Director David Rosenblatt Acquires Shares Through Restricted Stock Unit Vesting

IAC Inc. Director David S. Rosenblatt has acquired 2,076 shares of common stock through the vesting of restricted stock units, increasing his total beneficial ownership to 82,889 shares.

Summary

• David S. Rosenblatt, a Director of IAC Inc. (IAC), acquired 2,076 shares of IAC common stock on June 11, 2025, through the vesting of restricted stock units (RSUs).
• The acquisition price for these shares was $0, as they were obtained through the conversion of derivative securities (RSUs).
• Following this transaction, Mr. Rosenblatt's direct beneficial ownership of IAC common stock increased to 82,889 shares.
• This total beneficial ownership includes 56,896 shares held directly and 25,993 share units accrued under IAC's Non-Employee Director Deferred Compensation plans.
• The vested RSUs were part of a grant that vests in equal installments on June 11, 2025, 2026, and 2027, subject to continued service.
• The amount of unvested restricted stock units reported has been adjusted to reflect the spin-off of Angi Inc. completed on March 31, 2025.

Sentiment

Score: 6

Explanation: The document reports a routine, pre-scheduled equity compensation event for a director. This is a neutral to slightly positive event as it indicates continued service and aligns interests, but does not signal new strategic developments or significant financial performance changes.

Positives

• The vesting of restricted stock units indicates continued service and commitment of a key director to the company.
• The transaction is a routine equity compensation event, aligning the director's interests with those of shareholders.

Negatives

• No specific negative aspects were identified in this routine insider transaction filing.

Risks

• No specific business or operational risks were identified in this filing. The Power of Attorney mentions that the company does not warrant timely and accurate filing of Section 16 reports in all cases due to various factors, including shorter deadlines and reliance on other parties for information.

Future Outlook

The remaining 4,152 restricted stock units held by David Rosenblatt are scheduled to vest in equal installments on June 11, 2026, and June 11, 2027, contingent upon his continued service to the company.

Management Comments

• The filing indicates that the transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically the vesting of equity compensation. Such filings are standard practice for publicly traded companies and their directors/officers, reflecting pre-scheduled compensation plans. The adjustment due to the Angi Inc. spin-off highlights the impact of corporate restructuring on equity awards.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of equity compensation for directors is a common practice across various industries, aligning director incentives with long-term shareholder value.
• The vesting schedule (equal installments over multiple years) is a standard mechanism to encourage continued service and retention, consistent with compensation practices in many large public companies.
• The adjustment of equity awards following a spin-off, as seen with the Angi Inc. transaction, is also a standard procedure to maintain the economic value of the awards post-restructuring.

Corporate Governance

Related Party Transactions

• The acquisition of common stock through the vesting of restricted stock units is an equity compensation event for a director, which is a transaction between the company and a related party (insider) as part of their compensation package.

Stakeholder Impact

• Shareholders: The vesting of RSUs is a routine part of director compensation and results in a minor increase in outstanding shares, which is a standard aspect of equity compensation plans. It aligns the director's interests with long-term shareholder value.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: The transaction reflects the ongoing compensation structure for the company's directors.

Next Steps

• Future vesting of the remaining 4,152 restricted stock units on June 11, 2026, and June 11, 2027, subject to continued service.

Key Dates

Keywords

IAC Inc., Form 4, Insider Transaction, David Rosenblatt, Restricted Stock Units, RSU Vesting, Beneficial Ownership, Director Compensation, Equity Compensation, Angi Spin-off