Quinstreet SEC Filings

QuinStreet, Inc. (QNST) filed a Form 10-K describing its business model, risks, governance and selected financial and operational metrics. The company operates a performance marketing business relying on third-party media and search engines, and it highlights material risks including dependence on key clients and publishers, changes in search algorithms, data privacy and cybersecurity exposures, and macroeconomic and regulatory uncertainty. The filing discloses 57,159,734 shares issued and outstanding as of June 30, 2025, $9.3 million of capitalized internal software development costs in fiscal 2025 (amortized generally over two years), and a one-time $52.4 million valuation allowance recorded in fiscal 2023 against U.S. deferred tax assets. The company states no cybersecurity incident has materially affected operations to date and describes a formal cybersecurity program with SOC 2 Type II engagements, penetration testing, training, vendor management and quarterly Security Committee reporting. The filing notes adjusted EBITDA exclusions and limitations and describes equity compensation plans, share reserves and ESPP activity.

Driehaus Capital Management LLC filed a Schedule 13G/A reporting it does not beneficially own any QuinStreet, Inc. common stock. The filing states 0 shares (0%) and records no sole or shared voting or dispositive power. The reporting person is identified as an investment adviser and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. This disclosure is a routine ownership statement indicating no current stake or governance influence by the reporting firm.

QuinStreet director Andrew T. Sheehan reported changes in beneficial ownership for the fiscal year ended 06/30/2025. The Form 5 lists common stock transactions dated 11/22/2024 with transaction code G and shows numbers including 47,286, 47,486, 15,623 and 7,732 shares. The table differentiates direct and indirect holdings and provides per-line amounts for each class.

The filer discloses that certain shares are held by a trust for which he is trustee and by a limited partnership for which he is the managing director, and the reporting person expressly disclaims beneficial ownership of those shares except for his pecuniary interest. The Form identifies Sheehan as a Director of QuinStreet and reports the transaction details without additional earnings, valuation, or forward-looking information.

QuinStreet director David Pauldine submitted a Form 5 reporting Section 16 ownership changes for the fiscal year ended 06/30/2025. The filing records a transaction on 03/05/2025 coded G involving 169,923 shares of common stock at a stated price of $0.0. The table entries show 176,827 shares beneficially owned directly at the fiscal year end and 0 shares beneficially owned indirectly, with the indirect position described as "by Trust." Pauldine is identified as a Director and the form indicates it was filed by one reporting person.

Gregory Wong, Chief Financial Officer of QuinStreet, Inc. (QNST), reported multiple share dispositions on 08/10/2025. The Form 4 lists transactions coded "F" with a price of $15.19 per share. Disposed share amounts shown are 8,646; 1,587; 671; 2,381; 2,124; 895; 8,646, and the reported beneficial ownership figures following those entries include 465,444; 463,857; 463,186; 460,805; 458,681; 457,786; 449,140.

The filing's explanation states that all shares reported as disposed were relinquished to the issuer and cancelled in exchange for the issuer's agreement to pay federal and state tax withholding obligations arising from the vesting of restricted stock units (RSUs). The reporting person did not sell or otherwise dispose of any shares for any reason other than to cover required taxes.

Douglas Valenti, who serves as Chief Executive Officer and a director of QuinStreet, reported multiple changes in his beneficial ownership of QuinStreet common stock dated 08/10/2025. The filing shows a series of exempt dispositions associated with RSU vesting: 75,571 shares were relinquished to the issuer to satisfy federal and state tax withholding obligations at a reported per-share amount of $15.19. The Form also reports a 73,241-share disposition and a contemporaneous 73,241-share acquisition by a trust at $0.00, indicating a transfer between direct and indirect ownership. The filing notes indirect holdings including 1,950,509 shares by a trust and 6,903 shares held by Mr. Valenti’s son. The filer states no open-market sales occurred and the relinquishments were solely to cover tax liabilities arising from RSU vesting.