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Apollo-linked Form 4: 180,171 Taboola shares sold in repurchase to avoid 25% stake

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

Rhea-AI Filing Summary

Apollo-linked entities disclosed a sale of 180,171 Non-Voting Ordinary Shares of Taboola.com Ltd. on 09/15/2025 at $3.40 per share. After the reported disposition, the filing shows indirect beneficial ownership of 30,761,235 Non-Voting Ordinary Shares and 39,525,691 Ordinary Shares held by the reporting persons.

The filing explains these sales were executed between the issuer and College Top Holdings, Inc. under Taboola's share repurchase program and were intended to keep the reporting persons' aggregate stake below 25%. Multiple Apollo-related entities are listed as reporting persons and the form references Exhibits 99.1 and 99.2 for further detail.

Positive

  • Transparent disclosure of the sale amount (180,171 shares) and price ($3.40) on Form 4
  • Sale conducted via issuer's repurchase program, indicating a coordinated transaction rather than an undisclosed open-market sell-off
  • Multiple Apollo-related entities filed jointly, showing consolidated reporting of indirect holdings

Negative

  • Reduction in reported holdings — disposal of 180,171 Non-Voting Ordinary Shares reduces aggregate stake
  • Ownership close to 25% threshold, necessitating transactional steps to avoid reaching or exceeding that level

Insights

TL;DR: Small disclosed sale reduces Apollo group stake; transaction tied to issuer buyback to avoid a 25% ownership threshold.

The reported disposal of 180,171 Non-Voting Ordinary Shares at $3.40 is a modest liquidity event relative to the reported post-transaction holdings of over 30 million non-voting and 39 million ordinary shares held indirectly. Framing the sale as part of the issuer's repurchase program indicates coordination with Taboola rather than an open-market divestiture, which can limit market impact and signal a negotiated reduction to prevent crossing a regulatory/ownership threshold.

TL;DR: Disclosure shows governance-conscious action to manage ownership percentage, with transparent SEC reporting by multiple Apollo entities.

Multiple affiliated entities filed Form 4s and disclosed the rationale: sales occurred between the issuer and College Top Holdings, Inc. to prevent beneficial ownership from reaching 25%. That explanation addresses potential control-change concerns and demonstrates compliance with disclosure requirements. The references to Exhibits 99.1 and 99.2 suggest additional supporting documentation is available but not included in the Form 4 text here.

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 180,171 $3.40 $613K
holding Ordinary Shares, No Par Value -- -- --
Holdings After Transaction: Non-Voting Ordinary Shares, No Par Value — 30,761,235 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.
Form 4 Insider Transactions: What Each Field Means →
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).
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)
09/15/2025
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 09/15/2025 J(1) 180,171 D $3.4 30,761,235 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 09/17/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What shares were sold according to the Taboola (TBLAW) Form 4?

The Form 4 reports a sale of 180,171 Non-Voting Ordinary Shares at $3.40 per share on 09/15/2025.

Who reported the transaction on the Form 4 for Taboola (TBLAW)?

Multiple Apollo-linked entities filed the report, including Apollo Management Holdings GP, LLC and several affiliated partnerships and holding companies, all at the listed New York address.

Why were the shares sold according to the filing?

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

What are the reported beneficial ownership levels after the transaction?

Post-transaction beneficial ownership is reported as 30,761,235 Non-Voting Ordinary Shares (indirect) and 39,525,691 Ordinary Shares (indirect) for the reporting persons.

Does the Form 4 reference additional documentation?

Yes, the filing refers to Exhibit 99.1 for more information and notes signatures attached as Exhibit 99.2.