Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

IAC/INTERACTIVECORP

(IAC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

IAC/INTERACTIVECORP : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

06/08/2021 | 08:02am EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously announced, on May 25, 2021, IAC/InterActiveCorp ("IAC" or the "Company") completed the separation of the Company's Vimeo business from the remaining businesses of the Company in a series of transactions (the "Spin-off") that resulted in the creation of an independent public company, Vimeo, Inc. ("Vimeo"). In connection with the consummation of the Spin-off, and pursuant to the terms of the previously disclosed Restricted Stock Agreement, dated as of November 5, 2020, between IAC and Joseph Levin, the Company's Chief Executive Officer (the "Original RSA"), on June 7, 2021, the Company and Mr. Levin entered into an Amended and Restated Restricted Stock Agreement (the "Amended RSA").

The Original RSA provided for: (i) a grant of 3,000,000 shares of IAC restricted common stock ("IAC Restricted Shares") that cliff vest on the ten-year anniversary of the grant date, based on the satisfaction of certain stock price targets and Mr. Levin's continued employment through the vesting date, and (ii) the adjustment of the stock price targets in the event of an IAC spin-off of Vimeo. The ten-year stock price targets contained in the Amended RSA are as follows:




 IAC Stock Price     Number of Shares Vesting
Less than $110.22               0
     $110.22                 500,000
      140.25                2,000,000
      177.45                2,750,000
$223.32 or greater          3,000,000



All other price-related provisions in the Original RSA have been correspondingly modified in the Amended RSA, and the provisions of the Original RSA relating to adjustment upon an IAC spin-off of Vimeo have been eliminated from the Amended RSA. Except as described herein and except for certain ministerial changes, the Amended RSA contains the same terms as the Original RSA. The description of the Original RSA is set forth under Item 5.02 of the Current Report on Form 8-K filed by the Company on November 6, 2020, and is incorporated by reference herein.

In connection with the Spin-off, Mr. Levin and Vimeo have also entered into a Restricted Stock Agreement pursuant to the terms of the Original RSA.

The above summary of the Amended RSA is not complete and is qualified in its entirety by reference to the full text of the Amended RSA, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.



Item 9.01.     Financial Statements and Exhibits.



(d)     Exhibits.



Exhibit No.                            Description of Document
  10.1            Amended and Restated Restricted Stock Agreement, dated as of June
                7, 2021, by and between IAC/InterActiveCorp and Joseph M. Levin.
104             Cover Page Interactive Data File (formatted as Inline XBRL and
                contained in Exhibit 101).

© Edgar Online, source Glimpses

Stocks mentioned in the article
ChangeLast1st jan.
IAC/INTERACTIVECORP -0.49% 133.59 Delayed Quote.-29.10%
VIMEO, INC. -1.27% 45.1 Delayed Quote.0.00%
All news about IAC/INTERACTIVECORP
08/04IAC/INTERACTIVECORP : IAC REPORTS Q2 2021 - Q2 REVENUE INCREASES 26% TO $830 MIL..
PU
08/04IAC/INTERACTIVECORP : Termination of a Material Definitive Agreement, Regulation..
AQ
08/04IAC/INTERACTIVECORP : IAC Earnings Release and Letter to Shareholders Available ..
PU
08/04IAC/INTERACTIVECORP : IAC Grids and Metrics Q2 2021
PU
08/04IAC : Earnings Release and Letter to Shareholders Available on Company's Website
PR
08/04IAC/INTERACTIVECORP : IAC Reports Q2 2021 Results
PU
07/21Today on Wall Street: Earnings season picks up pace
07/21ANALYST RECOMMENDATIONS : Avast, Asos, Compass, Halliburton, Intertek...
07/21IAC/INTERACTIVECORP : BMO Capital Upgrades IAC/InterActiveCorp to Outperform Fro..
MT
07/14IAC : to Announce Q2 2021 Earnings on August 4th and Host Earnings Video Confere..
PR
More news
Financials (USD)
Sales 2021 3 337 M - -
Net income 2021 197 M - -
Net cash 2021 3 198 M - -
P/E ratio 2021 63,0x
Yield 2021 -
Capitalization 11 900 M 11 900 M -
EV / Sales 2021 2,61x
EV / Sales 2022 2,21x
Nbr of Employees 8 200
Free-Float 87,3%
Chart IAC/INTERACTIVECORP
Duration : Period :
IAC/InterActiveCorp Technical Analysis Chart | IAC | US44891N2080 | MarketScreener
Technical analysis trends IAC/INTERACTIVECORP
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 133,59 $
Average target price 211,44 $
Spread / Average Target 58,3%
EPS Revisions
Managers and Directors
Joseph M. Levin Chief Executive Officer & Director
Glenn H. Schiffman Chief Financial Officer & Executive Vice President
Barry Charles Diller Chairman
Chelsea Clinton Independent Director
Michael D. Eisner Independent Director
Sector and Competitors
1st jan.Capi. (M$)
IAC/INTERACTIVECORP-29.10%11 968
TENCENT HOLDINGS LIMITED-22.16%559 170
NETFLIX, INC.-5.53%228 977
PROSUS N.V.-17.70%139 113
AIRBNB, INC.0.41%89 667
UBER TECHNOLOGIES, INC.0.00%78 518