IAC to spin off Angi to shareholders; CEO Joseph Levin steps down, becomes Angi Executive Chairman

IAC Inc.

Joseph Levin to step down as IAC CEO upon completion of Angi spin-off (expected H1 2025, no sooner than March 31, 2025); will become Executive Chairman of Angi.
IAC Board approves plan to spin off all Angi shares to IAC shareholders via tax-free dividend; eliminates Angi dual-class structure.
Levin receives 5,008,600 ANGI Class B shares, $9.35M cash, and $3M/yr consulting fee for 6 years; forfeits 3,000,000 IAC restricted shares.
IAC will not appoint new CEO; CFO/COO Christopher Halpin and CLO Kendall Handler will report to Chairman Barry Diller.
Both IAC and Angi affirm prior Q4 2024 financial expectations; Q4 results to be posted Feb 11, 2025, call Feb 12.

item 1.01 item 5.02 item 1.02 item 8.01 item 9.01

Executive movements

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Departed

Joseph Levin

Chief Executive Officer

IAC · IAC Inc.

Effective: 2025-05-31
Filed: January 13, 2025, 6:59 PM ET

On January 13, 2025, IAC Inc. (the “ Company ”) announced that Joseph Levin will cease to serve as Chief Executive Officer of the Company and as a member of the board of directors (the “ Board ”) of the Company, in each case, effective upon the first to occur of the completion of the separation of Angi Inc. (“ ANGI ”) from the Company and May 31, 2025 (the “ Separation Effective Date ”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph Levin resigned as Chief Executive Officer at IAC Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On January 13, 2025, IAC Inc. (the “ Company ”) announced that Joseph Levin will cease to serve as Chief Executive Officer of the Company and as a member of the board of directors (the “ Board ”) of the Company, in each case, effective upon the first to occur of the completion of the separation of Angi Inc. (“ ANGI ”) from the Company and May 31, 2025 (the “ Separation Effective Date ”).

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IAC Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-003096

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