Thryv Holdings (THRY) Insider Filing Shows No Insider Stake

Rhea-AI Filing Summary

On 27 June 2025, Thryv Holdings, Inc. (THRY) submitted a Form 3 – Initial Statement of Beneficial Ownership for reporting person Lou Orfanos.

The document, covering an event date of 12 June 2025, identifies Mr. Orfanos as a Director but confirms that he held zero shares and no derivative securities in Thryv at the time of the filing. Table I and Table II both list no holdings, and the “Explanation of Responses” explicitly states that no securities are beneficially owned.

Because the filing records no insider ownership, it represents a routine governance disclosure required by Section 16(a) rather than a signal of buying or selling activity. The notice carries no direct financial or valuation impact; however, investors may view it as the formal onboarding of a new director and monitor future Form 4s for any subsequent purchases.

Insights

Corporate Governance Expert

TL;DR: New THRY director Lou Orfanos files Form 3 reporting zero ownership; purely procedural, financially neutral.

This Form 3 establishes Mr. Orfanos’ baseline ownership as he joins Thryv’s board. With no common or derivative securities listed, there is no dilution, insider purchase signal, or governance red flag. Such zero-ownership disclosures are common when directors are appointed from outside the company or have yet to receive equity grants. Investors should simply note the new board member and watch for equity awards or open-market buys that would appear in future Form 4 filings.

Portfolio Manager

TL;DR: Filing is an administrative update; no shares reported, so no portfolio action warranted.

The absence of insider holdings means this event does not alter insider-sentiment screens or ownership concentration metrics in my models. From a trading perspective, there is no supply-demand signal, no liquidity consideration, and no compensation insight yet. Unless a subsequent Form 4 shows an initial grant or purchase, I treat this as non-impactful housekeeping.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Orfanos Lou

(Last) (First) (Middle)

2200 WEST AIRFIELD DRIVE,

P.O. BOX 619810

(Street)

DFW AIRPORT TX 75261

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/12/2025

3. Issuer Name and Ticker or Trading Symbol
Thryv Holdings, Inc. [ THRY ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

No securities are beneficially owned.

	/s/ Meredith Kennedy, attorney-in fact	06/27/2025
	** 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 5 (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

Why did Thryv Holdings (THRY) file a Form 3?

The filing records initial insider ownership for newly listed director Lou Orfanos, as required under Section 16(a) of the Exchange Act.

How many THRY shares does Lou Orfanos own?

The Form 3 states that Mr. Orfanos owns zero shares and no derivative securities as of 12 June 2025.

What is the event date referenced in the filing?

The event date triggering the Form 3 is 06/12/2025.

Does this Form 3 affect Thryv’s share count or earnings?

No. The filing is administrative only and has no impact on share count, earnings, or cash flow.

Should investors interpret this as a buy or sell signal?

No. Because no securities are reported, the filing conveys no buying or selling activity.