[Form 4] YELP INC. Insider Trading Activity

Rhea-AI Filing Summary

Yelp Inc. (YELP) – Form 4 Insider Transaction

Chief Product Officer Craig Saldanha disclosed a sale of 1,000 common shares on 07/23/2025. The transaction, coded “S,” was executed at $35.23 per share under a Rule 10b5-1 trading plan adopted 08/30/2024, generating proceeds of roughly $35k. After the sale, Saldanha still directly owns 212,720 shares, meaning he reduced his holding by less than 0.5 %. No derivative securities were involved, and no other insiders are listed on the filing.

Insights

Securities Analyst

TL;DR: 1,000‐share 10b5-1 sale is immaterial; neutral signal.

The dollar value (~$35k) and fractional size (<0.5 % of holdings) make the trade statistically insignificant for valuation or sentiment. Execution under a pre-planned 10b5-1 program further reduces informational content, suggesting routine liquidity rather than opportunistic timing. I view the impact on YELP’s investment thesis as neutral.

Corporate Governance Expert

TL;DR: Routine compliance filing; no governance red flags detected.

The Form 4 is properly signed by an attorney-in-fact and references a duly adopted 10b5-1 plan, aligning with best-practice disclosure standards. Share retention of over 212k indicates the executive remains substantially aligned with shareholders. Overall governance impact is 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^*

Saldanha Craig

(Last) (First) (Middle)

C/O YELP INC.

350 MISSION STREET, 10TH FLOOR

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
YELP INC [ YELP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

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
Common Stock	07/23/2025		S		1,000(1)	D	$35.23	212,720	D

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

Explanation of Responses:

1. Shares were sold pursuant to a duly adopted 10b5-1 trading plan, adopted by the reporting person on August 30, 2024.

Remarks:

	/s/ Vanessa J. Oh, Attorney-in-Fact	07/23/2025
	** 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.

FAQ

How many YELP shares did Craig Saldanha sell on 07/23/2025?

He sold 1,000 common shares.

At what price were the YELP shares sold?

The shares were sold at $35.23 per share.

How many shares does the insider still hold after the sale?

Saldanha directly owns 212,720 YELP shares following the transaction.

Was the sale executed under a 10b5-1 trading plan?

Yes. The filing states the sale was made pursuant to a 10b5-1 plan adopted on 08/30/2024.

Did the filing report any derivative security activity?

No. No derivative transactions were reported in Table II.