Form 4: Institutional Venture Management XV, LLC Sells Shares of ZipRecruiter, Inc. in Share Repurchase Agreement

Institutional Venture Management XV, LLC, along with affiliated entities, sold shares of ZipRecruiter, Inc. as part of a share repurchase agreement.

Summary

• Institutional Venture Management XV, LLC, Institutional Venture Partners XV, L.P., and Institutional Venture Partners XV Executive Fund, L.P. reported changes in their beneficial ownership of ZipRecruiter, Inc. shares.
• The transactions occurred on May 20, 2025, and involved the sale of Class A Common Stock at a price of $5.32 per share.
• The sales were executed pursuant to a Share Repurchase Agreement between the Issuer, Institutional Venture Partners XV, L.P. ('IVP XV') and Institutional Venture Partners XV Executive Fund, L.P. ('IVP XV EF').
• Institutional Venture Partners XV, L.P. sold 2,984,137 shares.
• Institutional Venture Partners XV Executive Fund, L.P. sold 15,863 shares.
• Following the reported transactions, Institutional Venture Management XV, LLC continues to hold a significant number of ZipRecruiter shares both directly and indirectly through various entities and trusts.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction. It doesn't inherently convey positive or negative sentiment, but the share repurchase agreement could be viewed as a neutral to slightly positive signal.

Industry Context

Share repurchase agreements are often used by companies to return capital to shareholders and can signal management's belief that the company's stock is undervalued.

Comparison to Industry Standards

• It is difficult to compare this specific transaction to industry standards without knowing the full context of ZipRecruiter's capital allocation strategy and the terms of the share repurchase agreement.
• However, share repurchases are a common practice among publicly traded companies, and the size of this transaction should be evaluated in relation to ZipRecruiter's overall market capitalization and trading volume.
• Comparable companies in the online recruitment space, such as LinkedIn (owned by Microsoft) or Indeed (owned by Recruit Holdings), may also engage in share repurchase programs or other capital return strategies.

Stakeholder Impact

• The share repurchase may have a minor positive impact on shareholders by potentially increasing earnings per share and signaling management's confidence in the company's future prospects.

Key Dates

Keywords

Form 4, Beneficial Ownership, Share Repurchase, Institutional Venture Management XV, LLC, ZipRecruiter, Inc., IVP XV, IVP XV EF, Class A Common Stock