Form 4: Taboola Director Richard T. Scanlon Reports Charitable Gift of 150,000 Shares

Director Richard T. Scanlon of Taboola.com Ltd. reported a charitable gift of 150,000 ordinary shares, with no shares sold, while also disclosing beneficial ownership of over 3.6 million shares through various entities.

Summary

• Richard T. Scanlon, a director at Taboola.com Ltd., filed a Form 4 disclosing a charitable gift of 150,000 ordinary shares.
• The shares were transferred as a bona fide charitable gift, and no shares were sold in this transaction.
• Scanlon also reported beneficial ownership of 1,034,552 ordinary shares held indirectly through an LLC where he is the sole member.
• Additionally, he reported 187,759 ordinary shares held directly, including 59,172 Restricted Share Units (RSUs) that will vest on May 1, 2025.
• Scanlon also has indirect beneficial ownership of 320,642 shares through Marker Lantern 1 Ltd., 367,886 shares through Marker Lantern II Ltd., 1,254,300 shares through Marker II LP Taboola Series E LP, and 510,512 shares through Marker Follow-On Fund, LP.
• Scanlon disclaims beneficial ownership of the shares held through these entities for purposes of Section 16 of the Securities Exchange Act of 1934, except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of a charitable gift and beneficial ownership, which is neither positive nor negative. The director's continued ownership suggests confidence in the company.

Positives

• The charitable gift of shares does not indicate a negative view of the company's prospects by the director.
• The director's continued indirect beneficial ownership of a large number of shares suggests a continued alignment with the company's success.

Risks

• The document does not indicate any specific risks, but the disclaimer of beneficial ownership for shares held through various entities could be a point of consideration for investors.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is a common practice in publicly traded companies. It does not indicate any specific industry trends or competitive actions.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies in the US, as mandated by the SEC.
• The reporting of indirect beneficial ownership through various entities is also a common practice, especially for individuals with significant investment holdings.
• The disclaimer of beneficial ownership for shares held through entities is a standard legal practice to avoid potential liability under Section 16 of the Securities Exchange Act of 1934.

Stakeholder Impact

• The charitable gift of shares has a minimal impact on shareholders, as it does not involve a sale of shares on the open market.
• The disclosure provides transparency to stakeholders regarding the director's ownership.

Key Dates

Keywords

Taboola, Richard T. Scanlon, Form 4, Beneficial Ownership, Charitable Gift, Shares, RSUs, Director, Marker LLC