Getty Images (GETY) amends Schedule TO; updates option exchange ratios

Rhea-AI Filing Summary

Getty Images Holdings, Inc. filed Amendment No. 2 to its Schedule TO to update and supplement the Exchange Offer that would exchange certain outstanding stock options for new options on the terms described in the Offer to Exchange dated March 2, 2026. The amendment states Eligible Optionholders "have or will receive notice" of illustrative exchange ratios as of the date of this amendment (March 25, 2026), with example ratios ranging from about 4,906.11-to-1 down to 1.7-to-1 depending on grant date and exercise price.

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Accepted by SEC EDGAR 03/25/2026 - 04:43 PM Learn about SEC filing dates

FAQ

What is Getty Images (GETY) amending in this Schedule TO?

Answer: The amendment updates the terms of the Exchange Offer, specifically the illustrative exchange ratios for Eligible Options. Context: It supplements the Offer to Exchange dated March 2, 2026 and provides notice to Eligible Optionholders as of March 25, 2026.

When were Eligible Optionholders notified of the exchange ratios?

Answer: Eligible Optionholders "have or will receive notice" of their exchange ratios as of the date of Amendment No. 2. Context: Amendment No. 2 is dated March 25, 2026 and supplements the Offer to Exchange dated March 2, 2026.

What illustrative exchange ratios does the filing show for GETY options?

Answer: The filing lists illustrative exchange ratios by grant date and exercise price, ranging from about 4,906.11-to-1 to 1.7-to-1. Context: Ratios vary by grant date/exercise price, with specific examples shown in the amendment's table.

Does the amendment change who is eligible for the Exchange Offer?

Answer: The amendment refers to "Eligible Optionholders" and their Eligible Options but does not change eligibility criteria in the provided excerpt. Context: Capitalized terms are defined in the Offer to Exchange dated March 2, 2026.

Where can I find the full terms and definitions for this Exchange Offer?

Answer: The full terms and definitions are in the Offer to Exchange dated March 2, 2026 and the Schedule TO filed March 2, 2026. Context: This amendment supplements those documents and incorporates prior schedules and annexes by reference.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________

SCHEDULE TO
(Amendment No. 2)

TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934

__________________________

Getty Images Holdings, Inc.
(Name of Subject Company (Issuer) and Filing Person (as Offeror))

__________________________

Options to Purchase Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

N/A
(CUSIP Number of Class of Securities)

Kjelti Kellough, Esq.
Senior Vice President, General Counsel, and Corporate Secretary
605 5th Ave S., Suite 400
Seattle, Washington 98104
(206) 925-5000

(Name, address, and telephone numbers of person authorized to receive notices and 
communications on behalf of filing persons)

__________________________

Copies of communications to:

Todd E. Freed, Esq.
Jon A. Hlafter, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
One Manhattan West
395 9th Avenue
New York, New York 10001
(212) 735-3000

__________________________

☐		Check the box if the filing relates solely to preliminary communications before the commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which the statement relates:
		☐		third-party tender offer subject to Rule 14d-1.
		☒		issuer tender offer subject to Rule 13e-4.
		☐		going-private transaction subject to Rule 13e-3.
		☐		amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐
If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:
		☐		13e-4(i) (Cross-Border Issuer Tender Offer)
		☐		Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

Explanatory Note

This Amendment No. 2 to the Tender Offer Statement on Schedule TO (this “Amendment No. 2”) amends and supplements the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on March 2, 2026 (as amended, the “Schedule TO”), by Getty Images Holdings, Inc., a Delaware corporation (the “Company”), relating to its offer to exchange (the “Exchange Offer”) certain outstanding stock options for new options on the terms and conditions described in the Offer to Exchange Eligible Options, dated March 2, 2026 (the “Offer to Exchange”). This Amendment No. 2 should be read in conjunction with the Schedule TO and the Offer to Exchange. Capitalized terms used herein and not defined herein have the meanings given to them in the Offer to Exchange.

This Amendment No. 2 is being filed to amend and supplement the Offer to Exchange as described in Item 4 below. The information in the Schedule TO, including all schedules and annexes to the Schedule TO that were previously filed with the Schedule TO, is incorporated herein by reference to answer the items required in this Amendment No. 2, except that such information is hereby amended and supplemented to the extent specifically provided in this Amendment No. 2.

Item 4. Terms of the Transaction.

The Offer to Purchase and Item 4 of the Schedule TO is hereby amended and supplemented as follows:

Section 1. Eligible Participants; Eligible Options; the Proposed Exchange; Expiration and Extension of the Exchange Offer.

In accordance with the Offer to Exchange, each of the Eligible Optionholders has or will receive notice, as of the date of this Amendment No. 2, of the exchange ratios applicable to such Eligible Optionholder’s Eligible Options.

1

An illustrative range of the exchange ratios applicable to the Eligible Options as of the date of this Amendment No. 2 is as follows:

Eligible Option Grant Date:		Eligible Option Exercise Price:		Exchange Ratio (Number of Shares Underlying Eligible Option to Number of Shares Underlying New Option):
8/11/2016		$3.52		4,906.11 – to – 1
2/26/2017		$3.13		57.03 – to – 1
3/1/2017		$3.13		52.32 – to – 1
3/1/2017		$7.82		1,020.46 – to – 1
8/2/2017		$2.35		14.68 – to – 1
12/11/2017		$1.96		7.25 – to – 1
2/7/2018		$1.96		6.4 – to – 1
6/5/2018		$2.70		8.01 – to – 1
4/10/2019		$2.74		4.96 – to – 1
7/1/2019		$2.74		4.48 – to – 1
10/1/2019		$2.74		4.05 – to – 1
1/1/2020		$2.74		3.71 – to – 1
4/1/2020		$2.35		3.03 – to – 1
4/22/2020		$2.35		2.99 – to – 1
10/1/2020		$2.35		2.66 – to – 1
1/1/2021		$2.74		2.79 – to – 1
4/1/2021		$3.33		3.02 – to – 1
7/1/2021		$3.33		2.84 – to – 1
10/13/2022		$6.18		2.23 – to – 1
3/16/2023		$4.90		1.91 – to – 1
3/16/2023		$6.00		2.01 – to – 1
3/16/2023		$8.00		2.19 – to – 1
3/16/2023		$10.00		2.35 – to – 1
3/29/2023		$4.87		1.89 – to – 1
3/31/2023		$5.09		1.91 – to – 1
12/5/2023		$5.16		1.7 – to – 1

2

SIGNATURES

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 25, 2026		GETTY IMAGES HOLDINGS, INC.
		By:		/s/ Kjelti Kellough
				Kjelti Kellough Senior Vice President, General Counsel and Corporate Secretary

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