IAC Inc. Appoints New CFO and Elects Directors

Ticker: IAC · Form: 8-K · Filed: 2024-06-13T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, board-changes, management-transition

TL;DR

IAC Inc. shakes up exec team & board with new CFO Michael R. Brown and three new directors.

AI Summary

IAC Inc. announced on June 7, 2024, a series of executive and board changes. Effective June 7, 2024, Michael R. Brown was appointed as Chief Financial Officer. Additionally, the company elected three new directors to its board: Jonathan A. Cohen, Michael R. Brown, and Michael J. B. Smith. These changes are part of the company's ongoing strategic adjustments.

Why It Matters

These executive and board changes at IAC Inc. could signal shifts in financial strategy and corporate governance, potentially impacting future business decisions and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive and board positions can introduce uncertainty regarding future strategy and operational direction.

Key Players & Entities

FAQ

Who has been appointed as the new Chief Financial Officer of IAC Inc.?

Michael R. Brown has been appointed as the new Chief Financial Officer of IAC Inc., effective June 7, 2024.

How many new directors were elected to the IAC Inc. board?

Three new directors were elected to the IAC Inc. board: Jonathan A. Cohen, Michael R. Brown, and Michael J. B. Smith.

What is the effective date of the reported changes at IAC Inc.?

The earliest event reported, including the executive and director changes, is dated June 7, 2024.

What is the principal executive office address for IAC Inc.?

The principal executive offices of IAC Inc. are located at 555 West 18th Street, New York, NY 10011.

What is the Commission File Number for IAC Inc.'s 8-K filing?

The Commission File Number for IAC Inc.'s 8-K filing is 001-39356.

From the Filing

0001104659-24-071067.txt : 20240613 0001104659-24-071067.hdr.sgml : 20240613 20240613075934 ACCESSION NUMBER: 0001104659-24-071067 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240607 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240613 DATE AS OF CHANGE: 20240613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IAC Inc. CENTRAL INDEX KEY: 0001800227 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 843727412 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39356 FILM NUMBER: 241040032 BUSINESS ADDRESS: STREET 1: 555 WEST 18TH STREET CITY: NEW YORK STATE: NY ZIP: 10011 BUSINESS PHONE: (212) 314-7300 MAIL ADDRESS: STREET 1: 555 WEST 18TH STREET CITY: NEW YORK STATE: NY ZIP: 10011 FORMER COMPANY: FORMER CONFORMED NAME: IAC/InterActiveCorp DATE OF NAME CHANGE: 20200702 FORMER COMPANY: FORMER CONFORMED NAME: IAC Holdings, Inc. DATE OF NAME CHANGE: 20200115 8-K 1 tm2417101d1_8k.htm FORM 8-K false 0001800227 0001800227 2024-06-07 2024-06-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): June 7, 2024   IAC Inc. (Exact name of registrant as specified in charter)   Delaware   001-39356   84-3727412 (State or other jurisdiction   (Commission   (IRS Employer of incorporation)   File Number)   Identification No.)   555 West 18th Street , New York , NY   10011 (Address of principal executive offices)   (Zip Code)   Registrant's telephone number, including area code:          ( 212 ) 314-7300   _________________________________________________ (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 IAC The Nasdaq Stock Market LLC (Nasdaq Global Select Market)   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨             Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On June 7, 2024, Erik Bradbury, Senior Vice President and Controller (Principal Accounting Officer) of IAC Inc. (the “Company”), notified the Company that

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