Form 4: Thryv Holdings CEO Joe Walsh Reports Routine Share Withholding for Tax Obligations

Thryv Holdings, Inc. Chairman and CEO Joe Walsh reported the withholding of common shares to cover tax liabilities related to the vesting of restricted stock units.

Summary

• Joe Walsh, Chairman and CEO of Thryv Holdings, Inc. (THRY), reported transactions on July 7, 2025, involving the disposition of common shares.
• A total of 1,750 common shares (793 shares and 957 shares) were withheld by the Issuer at a price of $12.5 per share.
• These dispositions were made to satisfy tax withholding obligations incurred by Mr. Walsh in connection with the vesting of previously granted restricted stock units.
• Following these reported transactions, Joe Walsh directly beneficially owns 584,232 common shares.
• An additional 1,625,206 common shares are indirectly beneficially owned by a trust.
• The filing also notes that 1,689 shares were purchased on June 30, 2025, through the Issuer's Employee Share Purchase Program, which are included in the reported beneficial ownership figures.

Sentiment

Score: 7

Explanation: The transaction primarily reflects a routine tax withholding event for vested restricted stock units, which is a neutral event. However, the prior purchase of shares through the Employee Share Purchase Program indicates continued insider investment, adding a slightly positive nuance.

Positives

• The purchase of 1,689 shares through the Employee Share Purchase Program on June 30, 2025, indicates continued investment by the CEO in the company's equity.

Negatives

• The reported transactions involve the disposition of 1,750 common shares, which were withheld to cover tax liabilities, representing a reduction in direct shareholding, though this is a mandatory tax event rather than a discretionary sale.

Future Outlook

NA

Management Comments

• Shares of common stock were withheld by the Issuer to satisfy tax withholding obligations of the Reporting Person in connection with the vesting of a portion of restricted stock units previously granted to the Reporting Person.

Industry Context

NA

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine tax-related transaction for executive compensation.
• Employees participating in the Employee Share Purchase Program might view the CEO's participation as a positive sign of management's belief in the company's prospects.

Key Dates

Recommendation

Keywords

Thryv Holdings, THRY, Joe Walsh, SEC Form 4, Insider Transaction, Share Withholding, Restricted Stock Units, RSU, Executive Compensation, Beneficial Ownership