Yelp Form 4: Chief Product Officer Disposes of 1,000 Shares Under 10b5-1

Rhea-AI Filing Summary

Craig Saldanha, Chief Product Officer of Yelp Inc. (YELP), reported a sale of 1,000 shares of Yelp common stock on 08/25/2025 at a price of $32.33 per share. The filing shows 204,900 shares beneficially owned by the reporting person after the transaction, held directly. The sale is reported with transaction code S and the filer indicates the shares were sold pursuant to a 10b5-1 trading plan adopted on 08/30/2024. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Sale executed under a 10b5-1 trading plan, indicating the transaction was pre-scheduled
• Filing discloses post-transaction beneficial ownership of 204,900 shares, providing transparency
• Form filed by one reporting person and signed by attorney-in-fact, meeting procedural requirements

Negative

• Reporting person reduced direct holdings by 1,000 shares from prior level to 204,900 shares
• Insider sale reported, which may be interpreted by some investors as a reduction in insider ownership

Insights

Securities Analyst

TL;DR: Routine insider sale under a pre-established 10b5-1 plan; ownership remains material at 204,900 shares.

The reported sale of 1,000 shares at $32.33 was executed under a 10b5-1 plan, which provides an affirmative defense for planned trades. The transaction code 'S' confirms a sale and the Form 4 shows direct beneficial ownership of 204,900 shares following the trade. As a single-line disclosure by one reporting person, this filing is a standard insider disclosure rather than an event indicating an operational or financial shift.

Corporate Governance Expert

TL;DR: Governance disclosure is complete and uses an established trading plan; no red flags in form's contents.

The filer disclosed the use of a 10b5-1 trading plan adopted on 08/30/2024, which is a common governance practice to avoid concerns about trading on material nonpublic information. The Form 4 is signed via attorney-in-fact and lists the reporting person as an officer (Chief Product Officer). The filing is procedurally sound and contains the necessary details for investor transparency.

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
08/25/2025

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	08/25/2025		S		1,000(1)	D	$32.33	204,900	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	08/25/2025
	** 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

What did the YELP insider file on Form 4 report?

The Form 4 reports that Craig Saldanha, Yelp's Chief Product Officer, sold 1,000 shares on 08/25/2025 at $32.33 per share.

Was the YELP sale part of a trading plan?

Yes. The sale was executed pursuant to a 10b5-1 trading plan adopted on 08/30/2024, as stated in the filing.

How many Yelp shares does the reporting person own after the transaction?

The filing shows 204,900 shares beneficially owned following the reported transaction.

Who signed the Form 4 for the YELP filing?

The Form 4 was signed by Vanessa J. Oh, Attorney-in-Fact on 08/25/2025.

What transaction code was used for the Yelp trade?

The Form 4 lists transaction code S, indicating a sale of securities.