[SCHEDULE 13G/A] Teladoc Health, Inc. SEC Filing

Rhea-AI Filing Summary

The Vanguard Group has filed a Schedule 13G disclosing that it beneficially owns 8,969,988 shares of Talkspace, Inc. (TALK) as of 30 Jun 2025. The position represents 5.36 % of the company’s outstanding common stock, crossing the 5 % threshold that triggers passive-owner reporting under Rule 13d-1(b).

Voting authority is minimal: Vanguard reports 0 shares with sole voting power and 119,682 shares with shared voting power. However, it has sizable disposal authority, holding 8,797,669 shares with sole dispositive power and 172,319 shares with shared dispositive power. The stake is held in the ordinary course of business for clients of Vanguard’s investment-adviser arm and is not intended to influence control.

The filing, signed by Head of Global Fund Administration Ashley Grim on 29 Jul 2025, confirms that no single Vanguard client owns more than 5 % of TALK and that the group’s ownership could change based on portfolio flows.

Positive

• Vanguard’s 5.36 % stake adds a prominent, long-term institutional holder to Talkspace’s shareholder base, enhancing credibility and potential liquidity.

Negative

• Vanguard reports zero sole voting power, limiting any immediate governance support or activist pressure that could drive strategic change.

Insights

Financial Analyst

TL;DR: Vanguard’s passive 5.36 % stake signals institutional confidence but offers limited governance sway.

Vanguard’s disclosure places Talkspace on the radar of large-cap index and ETF investors, potentially improving liquidity and market visibility. While the holding is passive (13G) and carries almost no voting power, the near-9 million-share position enhances the free-float owned by long-term institutions, which can dampen volatility. The absence of activist intent means management is unlikely to face ownership-driven strategic pressure, but the endorsement from a top asset manager could aid future capital-raising efforts. Overall impact is modestly positive for sentiment, neutral for control.

Corporate Governance Expert

TL;DR: Passive stake enlarges institutional base; governance influence remains negligible.

Vanguard files under Rule 13d-1(b) as an investment adviser, confirming a non-activist posture. Zero sole voting power curtails its ability to influence board matters, and shared voting power spans just 0.07 % of shares outstanding. Hence, governance risk or support shifts are minimal. The filing mainly indicates compliance and transparency rather than a strategic move. Investors should not expect Vanguard-led initiatives but can view the stake as validation of the issuer’s inclusion in major index products.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

Teladoc Health Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87918A105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87918A105

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 257,060.00
7	Sole Dispositive Power 20,558,710.00
8	Shared Dispositive Power 460,285.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,018,995.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.98 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Teladoc Health Inc
(b)	Address of issuer's principal executive offices: 2 Manhattanville Road, Suite 203, Purchase, NY, 10577
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 87918A105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 21018995
(b)	Percent of class: 11.98 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 257060
	(iii) Sole power to dispose or to direct the disposition of: 20558710
	(iv) Shared power to dispose or to direct the disposition of: 460285
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

How many Talkspace (TALK) shares does Vanguard now own?

Vanguard reports beneficial ownership of 8,969,988 common shares.

What percentage of TALK’s outstanding stock does this represent?

The position equals 5.36 % of Talkspace’s common shares.

Does Vanguard have voting control over the shares?

Vanguard has 0 shares with sole voting power and 119,682 shares with shared voting power, indicating limited control.

Is Vanguard acting as an activist investor in Talkspace?

No. The filing is on Schedule 13G (passive intent) and explicitly states the shares are held in the ordinary course of business.

When was the ownership threshold crossed?

The reportable event date is 30 June 2025; the filing was signed on 29 July 2025.

Why is the 13G filing important for investors?

Crossing 5 % triggers mandatory disclosure, giving investors insight into large institutional positions that can affect liquidity and sentiment.