ZIP — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• In the quarter ended June 30, 2026, Quarterly Paid Employers increased 12% when compared to the quarter ended March 31, 2026. We saw strong growth in both new and returning customers as our products continue to improve.

• In the quarter ended June 30, 2026, Revenue per Paid Employer decreased when compared to the quarter ended March 31, 2026. We experienced an influx of new and returning Paid Employers, some of which only contributed revenue for a portion of the quarter, driving down Revenue per Paid Employer in the …

• The labor market remains subdued, with lower hiring demand from employers, at least in part due to effects of a variety of global business and macroeconomic factors, including inflationary pressures, elevated borrowing costs, cybersecurity incidents, changes in laws, regulations and administrative p…

• Total other income (expense), net is comprised of interest expense, gain on debt extinguishment, and other income (expense), net, as detailed below.

• Interest expense consists of interest costs associated with our outstanding borrowings, undrawn fees associated with our expired credit facility, and amortization of issuance costs for our expired credit facility and senior unsecured notes.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• In the quarter ended March 31, 2026, Quarterly Paid Employers increased 7% when compared to the quarter ended December 31, 2025. Despite the continued uncertainty in the labor market, our marketing and advertising investments and our continued product improvements drove more new and returning paid e…

• In the quarter ended March 31, 2026, Revenue per Paid Employer decreased when compared to the quarter ended December 31, 2025. While we believe our products and services continued to improve and offered more value for employers of all sizes, we saw a sequential decline in Revenue per Paid Employer c…

• The labor market remains subdued, with employers reducing their demand for hiring, at least in part due to effects of a variety of global business and macroeconomic factors, including inflationary pressures, elevated borrowing costs, cybersecurity incidents, changes in laws, regulations and administ…

• Interest expense consists of interest costs associated with our outstanding borrowings, undrawn fees associated with our credit facility, and amortization of issuance costs for our credit facility and senior unsecured notes.

• Revenue decreased by $2.5 million, or 2%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. With those currently employed continuing to leave their jobs at a low rate during the three months ended March 31, 2026, hiring levels remained lower compared to the…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We were subject to interest rate risk in connection with our credit facility, which had a floating interest rate. We have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates. A hypothetical 10% change in interest rates during any of the periods…

Text added vs the prior filing · source: 10-Q · 2026-08-05

• We had $255.4 million of indebtedness (excluding intercompany indebtedness) as of June 30, 2026. Our indebtedness could have important consequences, including:

• In addition, the indenture governing the remaining $255.4 million aggregate principal amount of our outstanding senior unsecured notes that we issued in January 2022 contains restrictive covenants that

• limit our ability to engage in activities that may be in our long-term best interest. Our failure to comply with those covenants could result in an event of default under the indenture governing the senior unsecured notes which, if not cured or waived, could result in the acceleration of substantial…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We had $550.0 million of indebtedness (excluding intercompany indebtedness) and $287.7 million available under our credit facility as of March 31, 2026. Our credit facility expired on its maturity date of April 30, 2026, and we elected not to renew it. Our indebtedness could have important consequen…

• In addition, the indenture governing the $550.0 million aggregate principal amount of our senior unsecured notes that we issued in January 2022 contains restrictive covenants that limit our ability to engage in activities that may be in our long-term best interest. Our failure to comply with those c…

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Amended and Restated Change in Control and Severance Agreements

• On July 30, 2026, we entered into amended and restated change in control and severance agreements with certain of our executive officers, including: Ian Siegel, Chief Executive Officer; David Travers, President and interim Chief Financial Officer; Amy Garefis, Executive Vice President, Chief People …

• The change in control and severance agreements provide for the following benefits if the executive is terminated by us without cause (as such term is defined in the change in control and severance agreement) outside of a change in control (as such term is defined in the change in control and severan…

• If the executive officer’s employment is terminated by us without cause or by the executive for good reason within the three months preceding a change in control or within the 12 months following a change in control, the change in control and severance agreements provide the following benefits in ex…

• The foregoing description of the amended and restated change in control and severance agreements are qualified in their entirety by reference to the full agreement, a form of which is filed as Exhibit 10.2 and incorporated herein by reference.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• •On March 2, 2026, The Yarbrough Family Trust, affiliated with Timothy Yarbrough, our former Executive Vice President, Chief Financial Officer, terminated a Rule 10b5-1 Plan for the potential sale of up to 292,027 shares of common stock. The plan’s expiration date was March 31, 2026.

• •On March 13, 2026, Boris Shimanovsky, our Executive Vice President, Chief Technology Officer, adopted a Rule 10b5-1 Plan for the potential sale of up to 283,982 shares of common stock. The plan’s expiration date is June 30, 2027.

• •On March 14, 2026, Amy Garefis, our Chief People Officer, adopted a Rule 10b5-1 Plan for the potential sale of up to 191,038 shares of common stock. The plan’s expiration date is August 20, 2027.

• Each of the Rule 10b5-1 Plans included a representation from the officer to the broker administering the plan that they were not in possession of any material nonpublic information regarding our company or the securities subject to the plan. A similar representation was made to us in connection with…