Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tim Quinn was appointed as Chief Financial Officer at IAC Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Tim Quinn, who currently serves as the Chief Financial Officer of People, will become Chief Financial Officer of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kendall Handler departed as Executive Vice President and Chief Legal Officer at IAC Inc..
- Action
- ceased
- Role
- Executive Vice President and Chief Legal Officer
Exact text from the filing
Kendall Handler will cease to serve as Executive Vice President and Chief Legal Officer of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Neil Vogel was appointed as Chief Executive Officer at IAC Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Neil Vogel, who currently serves as Chief Executive Officer of People, will become Chief Executive Officer of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christopher Halpin departed as Executive Vice President, Chief Operating Officer and Chief Financial Officer at IAC Inc..
- Action
- ceased
- Role
- Executive Vice President, Chief Operating Officer and Chief Financial Officer
Exact text from the filing
Christopher Halpin will cease to serve as Executive Vice President, Chief Operating Officer and Chief Financial Officer of the Company
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
IAC Inc. announced a restructuring with charges of approximately $14 million in severance and related expenses, $48 million in non-cash stock-based compensation expense and $0.5 million to $1 million in other co affecting corporate functions consolidation with People Inc. (reduction in workforce).
- Type
- restructuring
- Charge
- approximately $14 million in severance and related expenses, $48 million in non-cash stock-based compensation expense and $0.5 million to $1 million in other co
- Affected area
- corporate functions consolidation with People Inc.
- Headcount
- reduction in workforce
Exact text from the filing
Ahead of its name change to "People Incorporated" which is expected to occur with the release of Q2 2026 earnings in August, the Company has initiated a plan to consolidate its corporate functions with those of its People Inc. business (" People "), through a reduction in workforce, technology integrations, and other cost-saving measures over the coming quarters (the " Plan "). The Plan is expected to generate annual run-rate cost savings of approximately $40 million. The Plan is expected to be completed by Q1 of 2027. The Company expects to incur approximately $14 million in severance and related expenses, $48 million in non-cash stock-based compensation expense and $0.5 million to $1 million in other costs related to the Plan.
View on SEC.gov