[Form 4] TechTarget, Inc. Insider Trading Activity

Rhea-AI Filing Summary

First American Financial Corporation (FAF) filed Amendment No. 4 to Schedule 13D on 07/28/2025, reporting its current ownership in Offerpad Solutions Inc. (OPAD).

• FAF beneficially owns 5,119,314 Class A shares, equal to 16.84 % of the 27,710,358 shares outstanding as of 06/30/2025.
• All shares are held with sole voting and dispositive power; there is no shared ownership.
• Shares were acquired using working capital (Item 3); no leverage or third-party financing is referenced.
• Item 5(c) states no reportable transactions since the prior amendment; the filing primarily updates the percentage of ownership.
• FAF confirms it has not faced criminal convictions and, aside from matters disclosed in its March 30 2023 13D/A, is not subject to material legal orders.

The document signals that FAF remains a strategic, non-activist holder of a sizable OPAD position; no change in intent, control, or additional purchases/sales is disclosed.

Positive

• First American Financial reaffirms a substantial 16.84 % stake, indicating continued confidence in Offerpad’s prospects.

Negative

• None.

Insights

Equity Analyst

TL;DR – FAF still owns 16.8 % of OPAD; no new buying or selling disclosed.

FAF’s reaffirmed 5.1 M-share stake keeps it one of OPAD’s largest shareholders. Because the amendment merely updates the denominator (share count) without describing additional share accumulation or divestiture, the filing is information-only. Investors gain clarity on current ownership concentration but there is no immediate implication for earnings, liquidity, or near-term valuation. A 17 % position can influence voting outcomes; however, FAF makes no governance demands, suggesting a passive strategic investment. Impact on OPAD’s share price should be limited absent further action.

Corporate Governance Specialist

TL;DR – Large single holder confirmed; governance influence possible but unstated.

At 16.84 %, FAF sits well above the 10 % threshold that triggers heightened reporting and potential insider status. The company maintains sole voting/dispositive power, giving it unilateral control over this block. While the filing lacks activism language, such a concentrated stake warrants investor monitoring during proxy seasons, especially if management proposals become contentious. For now, the amendment is administrative, and governance risk remains neutral.

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^*

FLASCHEN DAVID J S

(Last) (First) (Middle)

C/O TECHTARGET, INC.

275 GROVE STREET

(Street)

NEWTON MA 02466

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TechTarget, Inc. [ TTGT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

4. 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 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

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
Stock Option (Right to Buy)	$8.7	07/24/2025		A		5,000		07/24/2026(1)	07/23/2035	Common Stock	5,000	$0	5,000	D

Explanation of Responses:

1. The stock option was granted in accordance with the TechTarget, Inc. 2025 Non-Employee Director Compensation Plan and the 2024 Incentive Plan and represents a right to purchase 5,000 shares of TechTarget's Common Stock.

	/s/ Charles D. Rennick, Attorney-in-Fact	07/28/2025
	** 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.
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FAQ

How many Offerpad (OPAD) shares does First American Financial own?

The filing lists 5,119,314 Class A shares beneficially owned.

What percentage of OPAD's outstanding shares does this represent?

FAF’s holdings equal 16.84 % of the 27,710,358 shares outstanding as of 06/30/2025.

Did First American buy or sell OPAD shares recently?

Item 5(c) states no reportable transactions; the amendment only updates ownership percentage.

Does First American share voting power over these shares?

No. The corporation has sole voting and dispositive power over all 5.1 M shares.

What funds did First American use to acquire the OPAD stake?

Item 3 discloses the source of funds as working capital.

Is First American facing any legal proceedings related to this investment?

The company reports no new legal proceedings beyond matters previously disclosed in March 2023.