Vector Capital Group Reports 7.98M Shares, 8.26% of LivePerson

Rhea-AI Filing Summary

Vector Capital-affiliated persons filed Amendment No. 3 to a Schedule 13D reporting collective beneficial ownership of 7,983,818 shares of LivePerson, Inc. common stock, representing 8.26% of the issued and outstanding shares based on 96,624,957 shares as of August 1, 2025. The cover pages show no sole voting or dispositive power; all reported power is shared. The filing states recent transactions during the prior 60 days were executed in open market transactions and references Exhibit 99.1 for details. Source of funds entries include AF and WC.

Positive

• Material minority stake disclosed: 7,983,818 shares representing 8.26% of outstanding common stock
• Transactions were open market purchases: recent activity during the prior 60 days occurred in the open market

Negative

• No sole voting or dispositive power: all reported power is shared, indicating no unilateral control
• Filing does not disclose strategic intentions: no statements about proposals, board actions, or plans are included

Insights

Financial Analyst

TL;DR: Vector Capital group holds an 8.26% stake in LPSN via shared voting power, accumulated via open-market purchases.

The reported 8.26% position is material relative to passive investor thresholds and may attract market attention given concentration among affiliated entities. The filing shows shared voting and dispositive power only, implying coordinated influence without unilateral control. Transactions during the prior 60 days were conducted in the open market and are detailed in Exhibit 99.1, which investors should review for timing and volume. The ownership base is calculated from 96,624,957 outstanding shares as of August 1, 2025.

Corporate Governance Expert

TL;DR: An affiliated group reports significant minority ownership with shared authority, suggesting potential for collaborative engagement but not control.

The structure—multiple Vector Capital entities and Alexander R. Slusky reporting shared voting/dispositive power—indicates coordinated ownership across affiliates. While 8.26% is substantial for a single investor block, the absence of sole voting power limits immediate governance control. The filing does not disclose any proposals, board nominations, or agreements beyond market purchases; Exhibit 99.1 lists recent trades. This is a clear disclosure of a concentrated stake without explicit activist intentions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

LivePerson, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

538146101

(CUSIP Number)

Alexander Slusky
650 California St, 32nd Floor
San Francisco, CA, 94108
(415) 293-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 538146101

1

Name of reporting person

Vector Capital VI, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,983,818.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,983,818.00

11

Aggregate amount beneficially owned by each reporting person

7,983,818.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.26 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 538146101

1

Name of reporting person

Vector Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,983,818.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,983,818.00

11

Aggregate amount beneficially owned by each reporting person

7,983,818.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.26 %

14

Type of Reporting Person (See Instructions)

OO, IA

SCHEDULE 13D

CUSIP No. 538146101

1

Name of reporting person

Vector Capital, L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,983,818.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,983,818.00

11

Aggregate amount beneficially owned by each reporting person

7,983,818.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.26 %

14

Type of Reporting Person (See Instructions)

OO, HC

SCHEDULE 13D

CUSIP No. 538146101

1

Name of reporting person

Alexander R. Slusky

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,983,818.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,983,818.00

11

Aggregate amount beneficially owned by each reporting person

7,983,818.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.26 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: LivePerson, Inc.
(c)	Address of Issuer's Principal Executive Offices: 530 7th Ave, Floor M1, New York, NEW YORK , 10018.
Item 5.	Interest in Securities of the Issuer
(a)	Each of the Reporting Persons' current ownership in the Issuer and the Issuer's Common Stock is set forth on the cover pages to this Schedule 13D and is incorporated by reference herein. The ownership percentages reported in this Schedule 13D are based on 96,624,957 shares of the Issuer's Common Stock issued and outstanding on August 1, 2025, as reported in the Issuer's Form 10-Q for the quarterly period ended June 30, 2025, filed on August 13, 2025.
(b)	Items 7 through 10 of each of the cover pages of this Schedule 13D are incorporated herein by reference.
(c)	Other than as disclosed in this Schedule 13D, as amended, the transactions by the Reporting Persons in the securities of the Issuer during the past sixty days are set forth in Exhibit 99.1 and such information is incorporated herein by reference. All such transactions were carried out in open market transactions
(d)	Not applicable
(e)	No applicable
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Transactions Effected by the Reporting Persons During the Past 60 Day.

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.

Vector Capital VI, L.P.

Signature:	/s/ David Baylor
Name/Title:	Director
Date:	08/26/2025

Vector Capital Management, L.P.

Signature:	/s/ Alexander R. Slusky
Name/Title:	Managing Member
Date:	08/26/2025

Vector Capital, L.L.C.

Signature:	/s/ Alexander R. Slusky
Name/Title:	Managing Member
Date:	08/26/2025

Alexander R. Slusky

Signature:	/s/ Alexander R. Slusky
Name/Title:	Alexander R. Slusky
Date:	08/26/2025

FAQ

What stake does Vector Capital report in LivePerson (LPSN)?

The reporting persons collectively beneficially own 7,983,818 shares, representing 8.26% of LivePerson's common stock based on 96,624,957 shares outstanding as of August 1, 2025.

Does the filing show Vector Capital has voting control of LPSN?

No. The cover pages report 0 sole voting power and 7,983,818 shared voting power, indicating shared rather than sole control.

How were the recent transactions executed?

The filing states transactions during the prior 60 days were effected in open market transactions and are detailed in Exhibit 99.1.

Which entities or individuals are part of the reporting group?

The filing lists Vector Capital VI, L.P.; Vector Capital Management, L.P.; Vector Capital, L.L.C.; and Alexander R. Slusky as reporting persons.

What source of funds is reported for the purchases?

The cover pages indicate sources of funds as AF and WC for the reporting persons.