ZipRecruiter insiders report 1.64M-share disposition via repurchase deal at $4.27
Rhea-AI Filing Summary
Institutional Venture Partners entities reported sales of ZipRecruiter, Inc. (ZIP) Class A common stock under a Share Repurchase Agreement dated August 21, 2025. The filing shows a disposition of 1,630,670 shares by Institutional Venture Partners XV, L.P. at $4.27 per share and a disposition of 8,675 shares by Institutional Venture Partners XV Executive Fund, L.P. at the same price. The report lists total beneficial holdings following the transactions for various related funds and trusts, with multiple record holders and indirect ownership through management entities and family trusts. The Form 4 is the second of two filings covering more than ten reporting persons.
Positive
- Share Repurchase Agreement execution is disclosed, showing contractual handling of large share dispositions
- Detailed ownership disclosure provided: record holders, general partners, managing directors, and trusts are explicitly identified
Negative
- Material disposition of 1,630,670 Class A shares (plus 8,675 shares) reduces reported holdings for the selling IVP entities
- Multiple related-party holdings and indirect ownership could complicate clarity of voting and dispositive power among managers and trusts
Insights
TL;DR: Large block sales via a repurchase agreement reduced reported Class A holdings; transaction appears contractual rather than open-market selling.
The filing documents material dispositions totaling 1,639,345 Class A shares sold at $4.27 per share under a Share Repurchase Agreement dated August 21, 2025. Ownership schedules show continued indirect holdings across multiple IVP funds and related management entities and trusts. As a disclosure, the Form clarifies record holders and disclaims by individual managers limited to pecuniary interests. This is a routine Section 16 filing that provides transparency on ownership changes without additional operational or financial details.
TL;DR: Reporting is thorough and identifies record holders, general partners, and trustees; multiple indirect ownership claims and disclaimers are documented.
The Form 4 delineates the chain of record and beneficial ownership among IVP entities, management LLCs, and family trusts, and includes standard disclaimers of beneficial ownership by individual managing directors except for pecuniary interests. The filing is split into two reports due to the number of reporting persons, and it cites the Share Repurchase Agreement as the basis for the dispositions. No governance actions, director changes, or exemptions are disclosed beyond these ownership transfers.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,630,670 | $4.27 | $6.96M |
| Sale | Class A Common Stock | 8,675 | $4.27 | $37K |
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| holding | Class A Common Stock | -- | -- | -- |
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Footnotes (1)
- The sale reported in this Form 4 was effected pursuant to a Share Repurchase Agreement by and among the Issuer, Institutional Venture Partners XV, L.P. ("IVP XV") and Institutional Venture Partners XV Executive Fund, L.P. ("IVP XV EF") dated as of August 21, 2025. The shares are held of record by IVP XV. Institutional Venture Management XV, LLC ("IVM XV") is the general partner of IVP XV. Todd C. Chaffee, Somesh Dash, Norman A. Fogelsong, Stephen J. Harrick, Eric Liaw, Jules A. Maltz, J. Sanford Miller and Dennis B. Phelps, Jr. are managing directors of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVP XV. Each of IVM XV and Messrs. Chaffee, Dash, Fogelsong, Harrick, Liaw, Maltz, Miller and Phelps disclaims beneficial ownership of the shares held by IVP XV except to the extent of its or his respective pecuniary interest therein. The shares are held of record by IVP XV EF. IVM XV is the general partner of IVP XV EF. Todd C. Chaffee, Somesh Dash, Norman A. Fogelsong, Stephen J. Harrick, Eric Liaw, Jules A. Maltz, J. Sanford Miller and Dennis B. Phelps, Jr. are managing directors of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVP XV EF. Each of IVM XV and Messrs. Chaffee, Dash, Fogelsong, Harrick, Liaw, Maltz, Miller and Phelps disclaims beneficial ownership of the shares held by IVP XV except to the extent of its or his respective pecuniary interest therein. The shares are held of record by Institutional Venture Partners XIV, L.P. ("IVP XIV"). Institutional Venture Management XIV LLC ("IVM XIV") is the general partner of IVP XIV. Todd C. Chaffee, Norman A. Fogelsong, Stephen J. Harrick, Jules A. Maltz, J. Sanford Miller and Dennis B. Phelps, Jr. are the managing directors of IVM XIV and may be deemed to share voting and dispositive power over the shares held by IVP XIV. Each of IVM XIV and Messrs. Chaffee,Fogelsong, Harrick, Maltz, Miller and Phelps disclaims beneficial ownership of the shares held by IVP XIV except to the extent of its or his respective pecuniary interest therein. The shares are held of record or beneficially by IVM XIV. Todd C. Chaffee, Norman A. Fogelsong, Stephen J. Harrick, Jules A. Maltz, J. Sanford Miller and Dennis B. Phelps, Jr. are the managing directors of IVM XIV and may be deemed to share voting and dispositive power over the shares held by IVM XIV. Each of Messrs. Chaffee, Fogelsong, Harrick, Maltz, Miller and Phelps disclaims beneficial ownership of the shares held by IVM XIV except to the extent of his respective pecuniary interest therein. The shares are held of record or beneficially by IVM XV. Todd C. Chaffee, Somesh Dash, Norman A. Fogelsong, Stephen J. Harrick, Eric Liaw, Jules A. Maltz, J. Sanford Miller and Dennis B.Phelps, Jr. are managing directors of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVM XV. Each of Messrs. Chaffee, Dash, Fogelsong, Harrick, Liaw, Maltz, Miller and Phelps disclaims beneficial ownership of the shares held by IVM XV except to the extent of his respective pecuniary interest therein. The shares are held of record by Somesh Dash. The shares are held by a family trust, of which Mr. Fogelsong is the trustee. Mr. Fogelsong disclaims beneficial ownership of these shares except to the extent of his proportionate pecuniary interest therein. The shares are held by a family trust, of which Mr. Liaw is the trustee. Mr. Liaw disclaims beneficial ownership of these shares except to the extent of his proportionate pecuniary interest therein. The shares are held by a family trust, of which Mr. Maltz is the trustee. Mr. Maltz disclaims beneficial ownership of these shares except to the extent of his proportionate pecuniary interest therein. The shares are held by a family trust, of which Mr. Phelps is the trustee. Mr. Phelps disclaims beneficial ownership of these shares except to the extent of his proportionate pecuniary interest therein.
