Taboola Insider Sale: Shachar Erez Disposes 27,000 Shares; RSUs Vesting 2026
Rhea-AI Filing Summary
Shachar Erez, a director of Taboola.com Ltd. (TBLA), reported a sale of 27,000 ordinary shares on 08/28/2025 at $3.38 per share. After that sale, the filing shows the Reporting Person directly held 218,827 shares and had interests in several entities that hold additional shares: 20,730,847 shares held by Evergreen V, L.P., 2,330,765 shares held by Evergreen VA, L.P., and 12,211 shares held by Evergreen V GP. The report also discloses 58,068 restricted share units (RSUs) that vest 100% on May 1, 2026, each convertible to one ordinary share upon vesting.
The Reporting Person is identified as a principal and managing partner of Evergreen Venture Partners and repeatedly disclaims beneficial ownership of the shares held by those funds except to the extent of any pecuniary interest. The Form 4 was signed by an attorney-in-fact on 08/29/2025.
Positive
- Timely disclosure of insider transaction and holdings, including RSU vesting details
- Clear mapping of direct and indirect holdings across affiliated entities
Negative
- Insider sale of 27,000 shares at $3.38 may be viewed negatively by some investors, although it appears routine
- Significant concentration of shares in affiliated funds (Evergreen V: 20,730,847; Evergreen VA: 2,330,765) which may limit free float
Insights
TL;DR: Routine insider sale with large affiliated fund holdings and unvested RSUs; limited immediate market impact.
The sale of 27,000 shares at $3.38 appears to be a discrete, routine disposition rather than a change in control or material shift in ownership. Material holdings are concentrated in affiliated vehicles: Evergreen V holds 20,730,847 shares and Evergreen VA holds 2,330,765 shares, indicating significant indirect positions that remain unchanged by this transaction. The 58,068 RSUs vesting on May 1, 2026 represent potential future dilution but are typical for executive/partner compensation. Overall, this filing signals disclosure and liquidity actions rather than operational or financial developments for Taboola.
TL;DR: Governance disclosure is complete; repeated disclaimers limit direct beneficial ownership claims despite role in the managing firm.
The filing clearly documents the Reporting Person's relationship to multiple investment vehicles and includes standard disclaimers that he disclaims beneficial ownership except for any pecuniary interest. That structure is common for fund principals and is properly disclosed here. The presence of vested and unvested equity (including 58,068 RSUs vesting in 2026) is noted, and the report was executed by an attorney-in-fact, consistent with procedural norms. No governance red flags are evident from this single Form 4.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 27,000 | $3.38 | $91K |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Footnotes (1)
- Includes 58,068 Restricted Share Units ("RSUs"). 100% of the RSUs shall vest on May 1, 2026, subject to the Reporting Person's continuous service through the vesting date. Each RSU represents the right to receive one ordinary share upon vesting and settlement. The Reporting Person is a principal and managing partner of Evergreen Venture Partners, Ltd. ("Evergreen Venture Partners"), and is obligated to remit the proceeds of any sale of ordinary shares issued to the Reporting Person upon vesting of RSUs to Evergreen Venture Partners. As such, the Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16"), except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. The reported shares are held directly by Evergreen V, L.P. ("Evergreen V"). Evergreen 5 GP Ltd. ("Evergreen 5") is the general partner of Evergreen V GP, LP ("Evergreen V GP"), which is the general partner of Evergreen V. Evergreen Venture Partners is the sole shareholder of Evergreen 5. The Reporting Person is a principal and managing partner of Evergreen Venture Partners, and disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. The reported shares are held directly by Evergreen VA, L.P. ("Evergreen VA"). Evergreen 5 is the general partner of Evergreen V GP, which is the general partner of Evergreen VA. Evergreen Venture Partners is the sole shareholder of Evergreen 5. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose. The reported shares are held directly by Evergreen V GP. Evergreen 5 is the general partner of Evergreen V GP. Evergreen Venture Partners is the sole shareholder of Evergreen 5. The Reporting Person is a principal and managing partner of Evergreen Venture Partners, and disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such shares are beneficially owned by him for Section 16 or any other purpose.
