Match Group Shuffles Leadership, Adjusts Compensation
Ticker: MTCH · Form: 8-K · Filed: Feb 4, 2025 · CIK: 891103
Sentiment: neutral
Topics: leadership-change, executive-compensation, board-of-directors
Related Tickers: MTCH
TL;DR
Match Group's CLO is out, new directors in, and exec pay is changing.
AI Summary
Match Group, Inc. announced on February 2, 2025, the departure of its Chief Legal Officer, Thomas McInerney. The company also reported on the election of new directors and changes to its executive compensation arrangements. Specific details regarding the new compensation plans were filed as exhibits.
Why It Matters
Changes in key executive roles and compensation structures can signal shifts in company strategy and future financial performance.
Risk Assessment
Risk Level: medium — Leadership changes and adjustments to compensation can indicate internal shifts that may impact future performance or strategy.
Key Players & Entities
- Match Group, Inc. (company) — Registrant
- Thomas McInerney (person) — Chief Legal Officer (departing)
- February 2, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Dallas, TX (location) — Principal business address
FAQ
Who has departed from Match Group, Inc.?
Thomas McInerney, the Chief Legal Officer, has departed from Match Group, Inc.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported is dated February 2, 2025.
In which state is Match Group, Inc. incorporated?
Match Group, Inc. is incorporated in Delaware.
What is the principal business address of Match Group, Inc.?
The principal business address is 8750 North Central Expressway, Suite 1400, Dallas, TX 75231.
What are the main topics covered in this 8-K filing?
This filing covers the departure of certain officers, election of directors, and compensatory arrangements of certain officers.
Filing Stats: 1,728 words · 7 min read · ~6 pages · Grade level 12 · Accepted 2025-02-04 17:06:54
Key Financial Figures
- $0.001 M — ich registered Common Stock, par value $0.001 MTCH NASDAQ (Nasdaq Global Select Mar
- $800,000 — to receive (i) an annual base salary of $800,000, (ii) discretionary annual cash bonuses
- $7,200,000 — the Company, with a grant date value of $7,200,000, vesting 1/3 on the first anniversary o
- $10,800,000 — pany, with a target grant date value of $10,800,000, vesting on the third anniversary of th
- $30,000,000 — the Company with a grant date value of $30,000,000 (the "Value Creation Award") as describ
- $12,000,000 — arget grant date value of not less than $12,000,000, 40% of which will be in the form of RS
- $40 — of the Company's stock price hurdles of $40, $50 and $60, each applicable to one th
- $50 — e Company's stock price hurdles of $40, $50 and $60, each applicable to one third o
- $60 — y's stock price hurdles of $40, $50 and $60, each applicable to one third of the aw
Filing Documents
- mtch8k020325.htm (8-K) — 38KB
- mtch8k020325ex10-1.htm (EX-10.1) — 181KB
- 0000898822-25-000002.txt ( ) — 396KB
- mtch-20250202.xsd (EX-101.SCH) — 4KB
- mtch-20250202_lab.xml (EX-101.LAB) — 21KB
- mtch-20250202_pre.xml (EX-101.PRE) — 16KB
- mtch8k020325_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 2, 2025, the Board of Directors (the "Board") of Match Group, Inc. (the "Company") appointed Spencer Rascoff as the Company's Chief Executive Officer, effective February 4, 2025 (the "Effective Date"). Mr. Rascoff succeeds Bernard Kim, who by mutual agreement with the Board has resigned his positions as Chief Executive Officer and a director of the Company, effective on the Effective Date. Mr. Rascoff, age 49, has been a director of the Company since March 2024. Prior to taking on the Chief Executive Officer role with the Company, Mr. Rascoff served as CEO and Founder since May 2021 of 75 & Sunny Ventures, a startup studio and family office, through which he invested in and mentored early-stage companies. Mr. Rascoff also co-founded Pacaso, a marketplace for vacation home ownership, where he has served as Chair of the Board since September 2020, as well as founder of several early-stage startups. Mr. Rascoff co-founded Zillow, a technology real estate marketplace company, in 2005 and served as its CEO for ten years. Prior to Zillow, Mr. Rascoff co-founded and was VP, Corporate Development of Hotwire, a travel website, which was sold to Expedia in 2003. Mr. Rascoff previously served as a member of the boards of directors of Zillow Group, Inc. from July 2011 through April 2020, Palantir Technologies Inc. from July 2020 through June 2022, TripAdvisor, Inc. from 2013 through June 2020, Supernova Partners Acquisition Company, Inc. from August 2020 through September 2021, Supernova Partners Acquisition Company II, Ltd. from December 2020 through March 2022, and Supernova Partners Acquisition Company III, Ltd. from March 2021 through April 2023. Mr. Rascoff is also a visiting professor at Harvard University where he teaches classes on entrepreneurship and startups. Mr. Rascoff graduated from Harvard Univ
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Employment Agreement between Match Group, Inc. and Spencer Rascoff, effective February 4, 2025 104 Inline XBRL for the cover page of this Current Report on Form 8-K SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATCH GROUP, INC. By: /s/ Sean Edgett Sean Edgett Chief Legal Officer and Secretary Date: February 4, 2025