[Form 4] IAC Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 snapshot: Director Bonnie S. Hammer reported the vesting and automatic conversion of 1,257 restricted stock units (RSUs) into an equal number of IAC Inc. (IAC) common shares on 23 June 2025. The transaction was coded “A” (acquisition) in Table I and “M” (derivative conversion) in Table II, reflecting that the shares were received for no cash consideration.

Following the transaction, Hammer’s direct ownership increased to 34,721 common shares. No derivative securities remain outstanding for this award, as the RSU grant—originally scheduled to vest in three equal annual tranches on 23 June 2023-2025—has now fully vested.

The filing also notes the 31 March 2025 spin-off of Angi Inc. (the “Angi Spin”), which resulted in an adjustment to any unvested RSUs prior to final vesting. There were no open-market purchases or sales; therefore, cash flow impact to the company is zero and the filing does not affect share count beyond the planned issuance under the equity plan.

Investment view: Insider acquisition through vesting is routine and signals continued alignment between the director and shareholders, but the size (<1% of daily volume) is too small to be market-moving. The absence of sales prevents any negative signal, making the disclosure largely neutral to modestly positive for sentiment.

Positive

• Director increases direct ownership by 1,257 shares, reinforcing alignment with shareholders.
• No shares sold; avoids negative signal that could accompany insider disposals.

Negative

• None.

Insights

Insider Trading Analyst

TL;DR: Routine RSU vesting; small director ownership bump, negligible market impact.

The conversion of 1,257 RSUs adds only ~US$70-80k of stock (assuming US$55-65 share price) to Hammer’s stake and raises her total holdings to 34,721 shares. Because the shares were acquired for $0, there is no price discovery element. Vestings are expected under compensation plans and don’t normally convey fresh information about the issuer’s prospects. Importantly, Hammer did not dispose of any shares, avoiding a potential negative perception. Overall, I categorize the filing as neutral; it merely confirms continued board-level alignment without indicating new strategic direction or financial performance.

Portfolio Manager

TL;DR: Minor, non-cash insider acquisition—sentiment positive but not portfolio-relevant.

From a portfolio allocation standpoint, the size of this director’s grant represents less than 0.02 % of IAC’s ~84 million share float, offering no liquidity constraint or valuation signal. The Angi Spin reference is administrative and does not alter IAC’s outstanding RSUs materially. Consequently, I would not adjust position sizing or risk models based on this disclosure. It is a soft positive that insiders continue to accumulate, yet not impactful for investment strategy.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hammer Bonnie S

(Last) (First) (Middle)

C/O IAC INC.

555 WEST 18TH STREET

(Street)

NEW YORK NY 10011

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IAC Inc. [ IAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.0001(1)	06/23/2025		A		1,257	A	$0	34,721	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(2)	$0	06/23/2025		M			1,257	(2)	(2)	Common Stock, par value $0.0001	1,257	$0	0(3)	D

Explanation of Responses:

1. Reflects shares of IAC common stock received upon the vesting of restricted stock units (see footnote 2 below).

2. Represents restricted stock units that vested/vest in equal installments on each of June 23, 2023, 2024, and 2025, subject to continued service

3. On March 31, 2025, IAC completed the spin-off of its ownership in Angi Inc. by means of a special dividend of all of the shares of Class A Common Stock then held by IAC to holders of its common stock and Class B common stock (the "Angi Spin"). The amount of unvested restricted stock units reported on this Form 4 have been adjusted to reflect the Angi Spin.

Remarks:

	/s/ Kyra Ayo Caros as Attorney-In-Fact for Bonnie Hammer	06/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many IAC (IAC) shares did Bonnie S. Hammer acquire on 23 June 2025?

1,257 common shares were acquired through RSU vesting.

What is Bonnie S. Hammer’s total IAC shareholding after the Form 4 transaction?

Her direct ownership stands at 34,721 shares.

Was any cash paid for the shares reported in this Form 4?

No; the shares were issued at a price of $0 upon RSU vesting.

Did the filing report any sales of IAC stock by the director?

No sales were reported; the filing only covered RSU conversion.

How did the Angi Inc. spin-off affect the RSUs disclosed in the filing?

Unvested RSUs were adjusted to reflect the 31 March 2025 spin-off before final vesting.