SCHEDULE: ZipRecruiter CEO Siegel's 15.8% Stake Revealed

ZipRecruiter CEO Ian H. Siegel disclosed beneficial ownership of 15.8% of the company's Class A Common Stock, including significant Class B voting power.

Summary

• Ian H. Siegel, Chief Executive Officer of ZipRecruiter, Inc., beneficially owns 13,317,072 shares of the company's Class A Common Stock equivalent.
• This ownership represents 15.8% of the total Class A Common Stock outstanding, calculated based on 71,380,481 shares issued and outstanding as of December 31, 2025.
• The beneficial ownership comprises 195,628 shares of Class A common stock held directly by Mr. Siegel, 91,958 shares of Class A common stock held by The Siegel Family Trust, and 13,029,486 shares of Class B common stock held by The Siegel Family Trust.
• Each share of Class B common stock is convertible at any time into one share of Class A common stock and is entitled to 20 votes, significantly concentrating voting power.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive disclosure, reflecting strong insider confidence and alignment, though the dual-class structure warrants attention regarding corporate governance.

Positives

• A substantial beneficial ownership stake (15.8%) by the CEO, Ian H. Siegel, indicates strong alignment of interests with long-term shareholder value.
• The CEO maintains sole voting and dispositive power over all 13,317,072 shares, including those held by The Siegel Family Trust, demonstrating clear control.

Negatives

• The dual-class share structure, with Class B shares carrying 20 votes each, concentrates significant voting control with the CEO, potentially limiting the influence of other Class A shareholders on corporate decisions.

Risks

• Concentrated voting power: The dual-class share structure, where Class B shares held by the CEO carry 20 votes per share compared to Class A's one vote, gives Ian H. Siegel substantial control over company decisions, potentially overriding the interests of other Class A shareholders.

Future Outlook

N/A

Management Comments

• Ian H. Siegel, Chief Executive Officer, certified the information set forth in this statement as true, complete, and correct to the best of his knowledge and belief.

Industry Context

StockSavvy.ai notes that significant insider ownership, especially by a founder/CEO, is often viewed positively by the market as it suggests strong confidence in the company's future and alignment with long-term shareholder value. However, the dual-class share structure, common in tech companies like Meta (Facebook) and Google (Alphabet), can raise corporate governance concerns regarding the dilution of voting power for public shareholders.

Comparison to Industry Standards

• StockSavvy.ai observes that dual-class share structures, like ZipRecruiter's, are prevalent among founder-led technology companies, such as Alphabet (GOOGL) and Meta Platforms (META), where founders retain significant control despite public ownership.
• Ian H. Siegel's 15.8% beneficial ownership, coupled with the 20-to-1 voting power of Class B shares, grants him substantial control, a common characteristic seen in companies where founders aim to protect their long-term vision from short-term market pressures.
• This level of concentrated control is comparable to situations where founders like Mark Zuckerberg at Meta or Larry Page and Sergey Brin at Alphabet maintain super-voting shares, allowing them to direct strategic decisions.

Corporate Governance

Related Party Transactions

• The Siegel Family Trust holds 91,958 shares of Class A common stock and 13,029,486 shares of Class B common stock, over which Ian H. Siegel has sole voting and dispositive power.

Stakeholder Impact

• Shareholders: Class A shareholders may have reduced influence on corporate decisions due to the concentrated voting power held by the CEO through Class B shares.
• Management: The CEO maintains strong control over the company's strategic direction and operations.

Next Steps

• The reporting person will file future amendments to this Schedule 13G if there are material changes in their beneficial ownership or other required disclosures.

Key Dates

Keywords

ZipRecruiter, Ian Siegel, beneficial ownership, Class A Common Stock, Class B Common Stock, SEC filing, Schedule 13G, insider ownership, corporate governance, voting power