[SCHEDULE 13G/A] IAC Inc. SEC Filing

Rhea-AI Filing Summary

IAC Inc. Schedule 13G/A reports that HighSage Ventures LLC and Jennifer Stier together hold significant common stock positions in IAC. HighSage Ventures is reported to beneficially own 4,562,068 shares (6.2%) and Jennifer Stier is reported to beneficially own 5,394,779 shares (7.3%), based on a stated outstanding share count of 74,108,000. The shares are directly held by limited liability companies managed by HighSage or Ms. Stier, and both reporting persons report shared voting and dispositive power over their respective holdings.

The filing includes a joint filing agreement and a certification that the securities were not acquired for the purpose of changing or influencing control of the issuer. Contact and organizational details for the reporting persons are provided in the statement.

Positive

• Material disclosure of ownership: Both reporting persons disclose holdings above the 5% threshold required for Schedule 13G/A reporting.
• Transparency on voting/dispositive power: The filing specifies shared voting and dispositive power and identifies the managerial relationship linking the reporting persons.
• Joint filing agreement attached: The existence of Exhibit 1 documents coordination and satisfies joint-filer disclosure requirements.
• Certification included: The reporting persons certify the positions are not held to change or influence control of the issuer.

Negative

• None.

Insights

Financial Analyst

TL;DR: Two affiliated reporting persons disclose material stakes above 5%, representing notable minority positions in IAC.

The Schedule 13G/A shows HighSage Ventures LLC holds 4,562,068 shares (6.2%) while Jennifer Stier holds 5,394,779 shares (7.3%), calculated on a 74.1 million share base. Positions are held through LLCs with shared voting and dispositive power, and a joint filing agreement is attached. Holdings above 5% require disclosure and may attract investor attention; the filing expressly states the positions are not intended to change control.

Corporate Governance Expert

TL;DR: Reported shared voting/dispositive power and a joint filing agreement indicate coordinated, disclosed ownership without claimed control intent.

The filing identifies managerial relationships (Ms. Stier is manager of HighSage) and confirms the shares are held via multiple LLCs, with shared authority to vote and dispose. The certification clause clarifies the reporting persons do not assert acquisition for control purposes. For governance review, the >5% thresholds are material for disclosure and proxy considerations; the filing documents the requisite transparency and joint filing arrangement.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

IAC Inc.

(Name of Issuer)

Common Stock, par value $0.0001

(Title of Class of Securities)

44891N208

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 44891N208

1

Names of Reporting Persons

HighSage Ventures LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,562,068.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,562,068.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,562,068.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on 74,108,000 shares of Common Stock outstanding as of June 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission (the "Commission") on August 4, 2025.

SCHEDULE 13G

CUSIP No. 44891N208

1

Names of Reporting Persons

Stier Jennifer

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,394,779.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,394,779.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,394,779.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

IN, HC

Comment for Type of Reporting Person: The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on 74,108,000 shares of Common Stock outstanding as of June 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Commission on August 4, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: IAC Inc.
(b)	Address of issuer's principal executive offices: 555 West 18th Street, New York, New York, 10011
Item 2.
(a)	Name of person filing: This statement is filed on behalf of HighSage Ventures LLC and Jennifer Stier (together, the "Reporting Persons"). The shares of Common Stock reported herein are directly held by certain limited liability companies managed by either HighSage Ventures LLC or Jennifer Stier. Jennifer Stier is the Manager of HighSage Ventures LLC. The Joint Filing Agreement between the Reporting Persons is attached hereto as Exhibit 1.
(b)	Address or principal business office or, if none, residence: For each Reporting Person: 200 Clarendon Street, 59th Floor, Boston, MA 02116
(c)	Citizenship: HighSage Ventures LLC: Delaware Jennifer Stier: United States
(d)	Title of class of securities: Common Stock, par value $0.0001
(e)	CUSIP No.: 44891N208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G.
(b)	Percent of class: HighSage Ventures LLC: 6.2% Jennifer Stier: 7.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: HighSage Ventures LLC: 0 Jennifer Stier: 0
	(ii) Shared power to vote or to direct the vote: HighSage Ventures LLC: 4,562,068 Jennifer Stier: 5,394,779
	(iii) Sole power to dispose or to direct the disposition of: HighSage Ventures LLC: 0 Jennifer Stier: 0
	(iv) Shared power to dispose or to direct the disposition of: HighSage Ventures LLC: 4,562,068 Jennifer Stier: 5,394,779
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The shares of Common Stock reported herein are directly held by certain limited liability companies, each of which has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock that it directly owns.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable 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.

HighSage Ventures LLC

Signature:	/s/ Matthew P. O'Connor
Name/Title:	Matthew P. O'Connor, Chief Legal Officer
Date:	08/14/2025

Stier Jennifer

Signature:	/s/ Jennifer Stier
Name/Title:	Jennifer Stier
Date:	08/14/2025

Exhibit Information

Exhibit 1: Joint Filing Agreement, dated August 14, 2025

FAQ

How many IAC (IAC) shares does HighSage Ventures LLC report owning?

HighSage Ventures LLC reports beneficial ownership of 4,562,068 shares, representing 6.2% of the stated outstanding common stock.

What percentage of IAC does Jennifer Stier report owning?

Jennifer Stier reports beneficial ownership of 5,394,779 shares, representing 7.3% of the stated outstanding common stock.

Are the reported shares held with voting or dispositive power?

The filing states both reporting persons have shared voting power and shared dispositive power over their respective reported holdings; neither reports sole voting or dispositive power.

On what share count are the percentages based?

Percentages are based on 74,108,000 shares of common stock outstanding, as stated in the filing.

Do the reporting persons claim the holdings were acquired to influence control of IAC?

No. The filing contains a certification stating the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.