Vector Capital Amends LivePerson Stake Filing

TL;DR

Vector Capital updated their LivePerson filing - ownership changes incoming?

AI Summary

On October 22, 2024, Vector Capital Management, L.P., along with Alexander R. Slusky and Vector Capital VI, L.P., filed an amendment (Amendment No. 1) to their Schedule 13D for LivePerson, Inc. This filing indicates a change in their beneficial ownership of LivePerson's common stock.

Why It Matters

This amendment signals a potential shift in significant ownership or strategy concerning LivePerson, Inc., which could influence the company's stock performance and future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty.

Key Numbers

• 1 — Amendment Number (Indicates this is not the initial filing, but a modification.)

Key Players & Entities

• Vector Capital Management, L.P. (company) — Filing entity
• Alexander R. Slusky (person) — Group member
• Vector Capital VI, L.P. (company) — Group member
• LivePerson, Inc. (company) — Subject company
• Paul Hastings LLP (company) — Legal counsel

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 par value per share (Title of Class o

Filing Documents

• d756715dsc13da.htm (SC 13D/A) — 75KB
• d756715dex991.htm (EX-99.1) — 82KB
• 0001193125-24-241313.txt ( ) — 158KB

is hereby amended to add the following

Item 4 is hereby amended to add the following: On October 20, 2024, the Reporting Persons entered into a cooperation agreement (the Cooperation Agreement) with the Issuer pursuant to which the parties agreed to collaborate regarding, among other things, board refreshment, including that (i) the Issuer will take all necessary steps to nominate Dan Fletcher for election to the Issuers Board of Directors (the Board) at the Issuers 2024 annual meeting of stockholders (the 2024 Annual Meeting), as one of the Issuers two nominees for Class III directors, and (ii) immediately following the conclusion of the 2024 Annual Meeting, the Board will take all necessary steps to appoint to the Board one mutually agreed candidate selected from a previously mutually agreed pool of 2 potential candidates (the Mutual Candidates) or pursuant to the terms of the Cooperation Agreement, a mutually agreed alternate candidate, which candidate shall be an Independent Director pursuant to the Nasdaq Stock Market LLCs listing standards (or the applicable requirement of such other national securities exchange designated as the primary market on which the Issuers Common Stock is listed for trading). Pursuant to the Cooperation Agreement, the Reporting Persons are subject to certain customary standstill restrictions (including, but not limited to, acquiring any securities, assets or indebtedness of the Issuer, nominating, seeking or encouraging any person to submit nominees in furtherance of a contested solicitation for the election or removal of directors, submitting or seeking any stockholder proposal for consideration before any stockholder meeting, or soliciting any proxy, consent or other authority to vote from stockholders), effective as of the date of the Cooperation Agreement and terminating on the earliest of (i) December 31, 2025, (ii) upon a consummation of an Extraordinary Transaction (as defined in the Cooperation Agreement) and (iii) the Reporting Persons electing to terminate th

is hereby amended to add the following

Item 6 is hereby amended to add the following: On October 20, 2024, the Reporting Persons and the Issuer entered into the Cooperation Agreement, as defined and described in Item 4 above and attached as Exhibit 99.1 hereto. ITEM7. Material to Be Filed as Exhibits.

is hereby amended to add the following exhibit

Item 7 is hereby amended to add the following exhibit: Exhibit Number Description Exhibit 99.1 Cooperation Agreement, dated October 20, 2024, by and among LivePerson, Inc., Vector Capital VI, L.P., Vector Capital Management, L.P. and Vector Capital, L.L.C. - 7 - SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: October 22, 2024 VECTOR CAPITAL VI, L.P. By: Vector Capital Partners VI, L.P., its General Partner By: Vector Capital Partners VI, Ltd., its General Partner /s/ David Baylor David Baylor, Director VECTOR CAPITAL MANAGEMENT, L.P. By: Vector Capital, L.L.C., its General Partner /s/ Alexander R. Slusky Alexander R. Slusky, Managing Member VECTOR CAPITAL, L.L.C. /s/ Alexander R. Slusky Alexander R. Slusky, Managing Member /s/ Alexander R. Slusky Alexander R. Slusky

View Full Filing

View this SC 13D/A filing on SEC EDGAR