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Apollo entities report TBLA sale to keep stake below 25% threshold

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Taboola.com Ltd. (TBLA) Form 4 summary: Apollo-affiliated reporting persons disclosed an insider transaction dated 08/18/2025 showing a disposal of 210,167 Non-Voting Ordinary Shares at <$3.26> per share. After the reported sale the reporting group beneficially owned 31,527,277 Non-Voting Ordinary Shares (indirect) and 39,525,691 Ordinary Shares (indirect). The filing states the sales were executed between the issuer and College Top Holdings, Inc. under the issuer's share repurchase program to prevent the reporting persons' ownership from reaching 25% or more. Multiple Apollo entities are listed as reporting persons at the New York address provided.

Positive

  • Clear disclosure of the transaction date, amount sold, and price which supports regulatory transparency
  • Explicit explanation that the sale was part of the issuer's repurchase program to prevent ownership from reaching 25%
  • Multiple Apollo entities listed consistently, indicating coordinated reporting across related parties

Negative

  • Disposition of 210,167 shares reduced the reporting group's non-voting shareholdings, although the filing frames this as intentional to manage the ownership threshold
  • Filing references exhibits (99.1, 99.2) for further information; those exhibits are not included in the provided text, limiting standalone clarity

Insights

TL;DR: Routine insider sale under issuer repurchase program; transaction size is small relative to holdings and intended to manage ownership threshold.

The Form 4 reports a single non-derivative disposal of 210,167 Non-Voting Ordinary Shares at $3.26 per share on 08/18/2025. Post-transaction indirect beneficial ownership is 31,527,277 Non-Voting Ordinary Shares and 39,525,691 Ordinary Shares. The filing explicitly states the sale was part of the issuer's repurchase program and aimed at preventing the reporting persons' stake from reaching 25%.

TL;DR: Disclosure aligns with Section 16 reporting and explains governance rationale for maintaining sub-25% ownership.

The report lists multiple Apollo-related entities as reporting persons and provides an explanation that the shares were sold to the issuer under its repurchase program to avoid exceeding a 25% ownership threshold. This is a governance-driven transaction disclosed per Form 4 requirements and accompanied by referenced exhibits for additional detail.

Insider Apollo Management Holdings GP, LLC, College Top Holdings, Inc., Yahoo, Inc., College Parent, L.P., College Parent Holdings GP, LLC, AP IX College Holdings, L.P., AP IX College Holdings GP, LLC, Apollo Management IX, L.P., AIF IX MANAGEMENT, LLC, Apollo Management, L.P.
Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Type Security Shares Price Value
Other Non-Voting Ordinary Shares, No Par Value 210,167 $3.26 $685K
holding Ordinary Shares, No Par Value -- -- --
Holdings After Transaction: Non-Voting Ordinary Shares, No Par Value — 31,527,277 shares (Indirect, See Footnote); Ordinary Shares, No Par Value — 39,525,691 shares (Indirect, See Footnote)
Footnotes (1)
  1. The reported sales are between the Issuer and College Top Holdings, Inc., as part of the Issuer's share repurchase program and are intended to keep the Reporting Persons' ownership of Taboola's outstanding shares from reaching 25% or more. See Exhibit 99.1 for more information. See Exhibit 99.1.
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
Estimated average burden
hours per response: 0.5
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*
Apollo Management Holdings GP, LLC

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Taboola.com Ltd. [ TBLA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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
Non-Voting Ordinary Shares, No Par Value 08/18/2025 J(1) 210,167 D $3.26 31,527,277 I See Footnote(2)
Ordinary Shares, No Par Value 39,525,691 I See Footnote(2)
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
1. Name and Address of Reporting Person*
Apollo Management Holdings GP, LLC

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
College Top Holdings, Inc.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Yahoo, Inc.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
College Parent, L.P.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
College Parent Holdings GP, LLC

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
AP IX College Holdings, L.P.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
AP IX College Holdings GP, LLC

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Apollo Management IX, L.P.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
AIF IX MANAGEMENT, LLC

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Apollo Management, L.P.

(Last) (First) (Middle)
9 WEST 57TH STREET, 41ST FLOOR

(Street)
NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The reported sales are between the Issuer and College Top Holdings, Inc., as part of the Issuer's share repurchase program and are intended to keep the Reporting Persons' ownership of Taboola's outstanding shares from reaching 25% or more. See Exhibit 99.1 for more information.
2. See Exhibit 99.1.
see signatures attached as Exhibit 99.2 08/19/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Apollo-affiliated reporting persons disclose on Taboola (TBLA)?

They disclosed a disposal of 210,167 Non-Voting Ordinary Shares on 08/18/2025 at a reported price of $3.26 per share.

How many Taboola shares do the reporting persons beneficially own after the transaction?

Following the reported transaction the filing shows 31,527,277 Non-Voting Ordinary Shares (indirect) and 39,525,691 Ordinary Shares (indirect) beneficially owned by the reporting group.

Why were the shares sold according to the Form 4?

The filing states the sales were between the issuer and College Top Holdings, Inc. under the issuer's repurchase program, intended to keep the reporting persons' ownership from reaching 25% or more.

Which entities filed the Form 4 for Taboola (TBLA)?

Multiple Apollo-related entities are listed, including Apollo Management Holdings GP, LLC, College Top Holdings, Inc., Yahoo, Inc., and other Apollo partnership and GP entities at the New York address shown.

Are there exhibits referenced in the Form 4 and are they included?

The filing references Exhibit 99.1 and Exhibit 99.2 for more information, but those exhibits are not included in the provided content.