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    SEC Form 11-K filed by IAC Inc.

    6/25/25 4:00:53 PM ET
    $IAC
    Computer Software: Programming Data Processing
    Technology
    Get the next $IAC alert in real time by email
    11-K 1 a202411-k.htm 11-K Document



    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
    FORM 11-K
    x
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED
    DECEMBER 31, 2024
    or
    o
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
    For the transition period from to
    Commission file number 0-20570
    A. FULL TITLE OF THE PLAN AND THE ADDRESS OF THE PLAN, IF DIFFERENT FROM THAT OF THE ISSUER NAMED BELOW:
    IAC Inc. Retirement Savings Plan
    B. NAME OF ISSUER OF THE SECURITIES HELD PURSUANT TO THE PLAN AND THE ADDRESS OF ITS PRINCIPAL EXECUTIVE OFFICE:
    IAC Inc.
    555 West 18th Street
    New York, New York 10011





    IAC Inc. Retirement Savings Plan
    Table of Contents

    Page Number
    Report of Independent Registered Public Accounting Firm
    3
    Financial Statements:
    Statement of Net Assets Available for Benefits as of December 31, 2024 and 2023
    4
    Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2024
    5
    Notes to Financial Statements:
    Note 1—Description of the Plan
    6
    Note 2—Summary of Significant Accounting Policies
    8
    Note 3—Fair Value Measurements
    8
    Note 4—Income Tax Status
    10
    Note 5—Transfers In
    10
    Note 6—Party-in-Interest Transactions
    10
    Note 7—Certain Risks and Uncertainties
    10
    Note 8—Reconciliation of Financial Statements to Form 5500
    10
    Note 9—Subsequent Event
    11
    Supplemental Schedule:
        Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2024
    12
    Exhibit:
         Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm




    Report of Independent Registered Public Accounting Firm
    To the Plan Participants and the Plan Administrator of IAC Inc. Retirement Savings Plan
    Opinion on the Financial Statements
    We have audited the accompanying statement of net assets available for benefits of IAC Inc. Retirement Savings Plan (the Plan) as of December 31, 2024 and 2023, and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2024 and 2023, and the changes in its net assets available for benefits for the year ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.

    Basis for Opinion
    These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

    We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

    Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

    Supplemental Schedule Required by ERISA
    The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2024 (referred to as the “supplemental schedule”), has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
    /s/ Ernst & Young LLP
    We have served as the Plan's auditor since 1998.
    New York, New York
    June 25, 2025
                    

    3

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Statement of Net Assets Available for Benefits


    December 31,
    20242023
    Assets
    Cash$4,338 $187 
    Investments, at fair value1,566,391,662 1,367,017,717 
    Receivables:
    Notes receivable from participants7,171,476 7,328,136 
    Participant contributions178 73,044 
    Employer contributions89 22,649 
    Total receivables
    7,171,743 7,423,829 
    Net assets available for benefits $1,573,567,743 $1,374,441,733 
    See accompanying Notes to Financial Statements.


    4

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Statement of Changes in Net Assets Available for Benefits

    Year Ended December 31, 2024
    Additions to net assets attributed to:
    Investment income:
    Net realized and unrealized appreciation in fair value of Plan investments
    $175,567,691 
    Dividend, interest and other income
    21,751,352 
    Total investment income
    197,319,043 
    Contributions:
    Participants
    75,484,534 
    Employer, net of forfeitures
    33,646,162 
    Participant rollovers
    18,612,943 
    Total contributions
    127,743,639 
    Total additions
    325,062,682 
    Deductions from net assets attributed to:
    Benefits paid to participants(141,141,263)
    Administrative expenses(763,927)
    Total deductions(141,905,190)
    Net increase183,157,492 
    Transfers in15,968,518 
    Net assets available for benefits—beginning of year 1,374,441,733 
    Net assets available for benefits—end of year $1,573,567,743 
    See accompanying Notes to Financial Statements.


    5

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements


    Note 1—Description of the Plan
    The following description of the IAC Inc. Retirement Savings Plan (the "Plan") provides only general information. Participants should refer to the Summary Plan Description for a more complete description of the Plan’s provisions.
    General
    The Plan is a defined contribution plan covering substantially all U.S. employees of IAC Inc. (referred to herein as "IAC" or the "Company") and its subsidiaries. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").
    Contributions
    Participants can make pre-tax contributions, after-tax contributions and/or Roth 401(k) contributions (including irrevocable In-Plan Roth rollovers) up to 50% of their eligible compensation (as defined in the Plan document) through payroll deductions. Participant contributions are subject to annual limitations established by the Internal Revenue Service ("IRS"). For 2024, the IRS limited the annual pre-tax and Roth 401(k) contributions to $23,000 for each participant. The Plan allows participants who are 50 years of age or older to make additional pre-tax and Roth 401(k) catch-up contributions (limited to $7,500 for each participant in 2024). Other IRS limits exist for certain highly compensated employees participating in the Plan. The Plan permits rollover contributions, including Roth rollovers, from other qualified plans; however, rollover contributions are not eligible for Company matching contribution. Participants can direct their contributions to any of the Plan’s investment options and may generally change their investment options on a daily basis. Employees who are 18 years of age or older are eligible to participate upon commencement of service (as defined in the Plan document).
    All newly hired (and rehired) employees are automatically enrolled in the Plan, with pre-tax contributions of 6% of their eligible compensation (as defined in the Plan document) through payroll deductions commencing approximately 90 days after the date of their first pay period. Such deductions are automatically directed into the T. Rowe Price Retirement Active B Fund based on the employee's expected year of retirement. In addition, employees who have: (i) previously been enrolled in the Plan, but have elected to contribute 0% of their eligible compensation, will be automatically increased annually to pre-tax contributions of 6% of their eligible compensation and (ii) elected to defer less than 10% of their eligible compensation will be automatically increased annually at a rate of 1% (up to a maximum of 10%), with annual increases being effected by way of pre-tax contributions for employees who have elected to make pre-tax and Roth 401(k) contributions and by way of post-tax contributions for employees who have elected to make Roth 401(k) contributions only. New and existing employees are notified of their automatic enrollment and/or automatic changes to their contributions percentage in advance and may elect to not participate in the Plan, change the default investment option and/or change the default contribution percentage.
    Depending upon the IAC subsidiary for which a given participant provides services, the Company either matches 100% of the first 5% or 10% of eligible compensation or 50% of the first 6% of eligible compensation (subject to IRS limits on Company matching contributions) that a participant contributes in each payroll period to the Plan. In addition, the Plan generally limits Company matching contributions to a maximum of $10,000 per participant on an annual basis. The Company may also make discretionary contributions of funds annually, which (if applicable) would be determined by the Company’s Board of Directors (or a committee thereof).
    Company matching contributions and discretionary contributions (if any) are directed to Plan investment options based upon the respective participant’s investment election(s).
    6

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements (Continued)

    Participant Accounts and Allocations
    Each participant account is credited with participant contributions, Company matching contributions and Company discretionary contributions (if any), as well as an allocation of Plan earnings (losses). Plan earnings (losses) are allocated by fund based on the ratio of a relevant participant's investment in a particular fund to all participants' investment in that same fund. Fees charged for participant loans and distributions are allocated directly to the relevant participant’s account. The Plan benefit to which each participant is entitled is the vested portion of each such participant’s account.
    Vesting
    Participant contributions are fully vested at the time of contribution. Company matching contributions (plus earnings thereon) vest after two years of credited service. In the event plans are merged into the Plan, Company matching contributions may vest over different periods based upon the terms of the merged plans. In these cases, participants would refer to the applicable Plan amendments for a complete description of applicable vesting provisions.
    Forfeitures
    Company matching contributions that do not vest are forfeited. Forfeitures are first made available to reinstate previously forfeited account balances of qualifying participants who have left the Company and have subsequently returned, in accordance with applicable law. Remaining amounts (if any) are used to reduce prospective Company matching contributions and discretionary contributions, as well as to pay Plan expenses. Cumulative forfeited non-vested accounts totaled approximately $1.8 million and $1.4 million at December 31, 2024 and 2023, respectively. The amount of forfeitures used to reduce Company matching contributions for the year ended December 31, 2024 totaled approximately $1.7 million.
    Notes Receivable from Participants
    Participants may borrow from their Plan accounts in an amount equal to at least $1,000 and up to a maximum amount equal to the lesser of $50,000 or 50% of their vested account balance. Except for loans used to purchase a primary residence, which can have terms of up to 15 years, loan terms are limited to a maximum of five years. Any loans that have been transferred into the Plan from a previous plan are subject to the terms of the initial loan. Loans are secured by the balance in the relevant participant’s account and bear interest at a rate commensurate with prevailing commercial rates at the time of the loan as determined by the recordkeeper. Principal and interest are paid ratably through regular payroll deductions. Upon a termination of employment, any outstanding loans are due and payable within 90 days following the termination date. At both December 31, 2024 and 2023, interest rates on outstanding loans ranged from 4.25% to 9.50%, with maturity dates through July 31, 2039 and November 29, 2038 at December 31, 2024 and 2023, respectively.
    Payment of Benefits
    Upon a termination of employment, death, disability, financial hardship or the attainment of age 591/2, vested participant accounts generally become distributable in the form of a lump sum payment or substantially equal installments of cash as previously elected by the relevant participant in accordance with applicable law and the Plan. Participant vested account balances of more than $7,000 may be left in the Plan as previously elected by the relevant participant in accordance with applicable law and the Plan; provided, however, that related distributions may not be deferred past April 1 of the calendar year following the year in which the participant attains age 72. Vested participant account balances of less than $7,000 but more than $1,000 will be automatically rolled over into an individual retirement account unless the relevant participant elects otherwise. Vested participant account balances of $1,000 or less will be automatically distributed in a lump sum. When participants reach the age of 591/2, they may elect to withdraw some or all of their vested account balance while still employed. In some cases, pre-tax contributions may be withdrawn earlier, subject to certain hardship withdrawal provisions set forth in the Plan. Participants who have made after-tax contributions may elect to withdraw some or all of their vested account balance with no limit on the number of withdrawals of this type.
    7

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements (Continued)

    Plan Termination
    Although the Company has expressed no intent to terminate the Plan, if the Plan is terminated by the Company, all employer contributions (including earnings thereon) credited to participant accounts would become 100% vested and the net assets would be distributed to participants.
    Administrative Expenses
    All administrative expenses of the Plan are borne by the Plan, unless the Company elects to pay such expenses.
    Note 2—Summary of Significant Accounting Policies
    Basis of Accounting
    The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP").
    Use of Estimates
    The preparation of financial statements in accordance with GAAP requires Plan management to make certain estimates, judgments and assumptions that affect the amounts reported in the financial statements and the disclosures in the accompanying notes. Actual results could differ from these estimates.
    Investment Valuation and Income Recognition
    Plan investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See "Note 3—Fair Value Measurements" for a discussion of fair value measurements.
    Purchases and sales of investments are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date and interest income is recorded when earned.
    Notes Receivable from Participants
    Notes receivable from participants are recorded at their unpaid principal balance, plus any accrued and unpaid interest. Delinquent participant loans are reclassified as distributions based on the terms of the Plan. No allowance for credit losses has been recorded as of December 31, 2024 and 2023.
    Benefit Payments
    Benefit payments are recorded when paid.
    Recent Accounting Pronouncements
    There are no recently issued accounting pronouncements that are expected to have a material effect on the Plan's financial statements.
    Note 3—Fair Value Measurements
    Plan management categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:
    •    Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.
    8

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements (Continued)

    •    Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data.
    •    Level 3: Unobservable inputs for which there is little or no market data and require the Plan to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.
    Shares of registered investment companies, investments in the IAC common stock fund and the self-directed brokerage account investment option (which is invested primarily in registered investment companies, common stocks and cash and cash equivalents), are valued at quoted market prices at year-end. The fair value of common collective trust funds is based on the Net Asset Value ("NAV") reported by the administrator of the respective common collective trust funds. The NAV is calculated daily and is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. While the underlying assets are actively traded, the funds, however, are not publicly traded and pricing information is accessible only to Plan participants. The funds are, therefore, classified as Level 2. There are no restrictions on redemptions related to the common collective trust funds. There have been no changes in the valuation methodologies used at December 31, 2024 and 2023.
    The preceding valuation methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While Plan management believes these valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
    The following tables set forth, by level within the fair value hierarchy, Plan assets that are measured at fair value as of December 31, 2024 and 2023. There are no Plan assets that are measured on a recurring basis using Level 3 inputs.
    December 31, 2024
    Level 1Level 2Total
    Fair Value
    Measurements
    Investments in registered investment companies$503,824,838 $— $503,824,838 
    Investment in self-directed brokerage account28,792,975 — 28,792,975 
    Investment in IAC common stock fund6,622,593 — 6,622,593 
    Investments in common collective trust funds— 1,027,151,256 1,027,151,256 
    Total investments, at fair value$539,240,406 $1,027,151,256 $1,566,391,662 
    December 31, 2023
    Level 1Level 2
    Total
    Fair Value
    Measurements
    Investments in registered investment companies$428,922,447 $— $428,922,447 
    Investment in self-directed brokerage account19,220,226 — 19,220,226 
    Investment in IAC common stock fund8,248,578 — 8,248,578 
    Investments in common collective trust funds— 910,626,466 910,626,466 
    Total investments, at fair value$456,391,251 $910,626,466 $1,367,017,717 
    9

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements (Continued)

    Note 4—Income Tax Status
    The Plan received a determination letter from the IRS, dated May 14, 2014, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the "Code") and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Administrator has indicated that it will take the necessary steps, if any, to bring the Plan’s operations into compliance with the Code. The Plan was amended and restated subsequent to the receipt of this determination letter. The Company, in its capacity as Plan Administrator, believes that the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified, and the related trust is tax-exempt. Accordingly, no provision for income taxes has been included in the Plan’s financial statements.
    The Company, in its capacity as Plan Administrator, has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024, there are no material uncertain tax positions taken by the Plan. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
    Note 5—Transfers In
    As of December 31, 2022, Dotdash Meredith Inc. (“DDM”), a subsidiary of the Company, froze and terminated its domestic funded pension plan. During 2024, this plan’s remaining assets of $16.0 million were transferred to a suspense account within the Plan. In accordance with IRS requirements, the assets in this suspense account are to be allocated to active DDM participants in the Plan no less than ratably over a period not to exceed seven years, which may be accelerated. During the third quarter of 2024, DDM made its first asset allocation under the IRS requirements, in the amount of $2.3 million, and expects to allocate the remaining funds in 2025.
    Note 6—Party-in-Interest Transactions
    One of the investment options in the Plan is a fund consisting primarily of publicly traded common stock of IAC, the sponsor of the Plan. This investment qualifies as a party-in-interest.
    Note 7—Certain Risks and Uncertainties
    The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the statement of net assets available for benefits.
    Note 8—Reconciliation of Financial Statements to Form 5500
    There is one adjustment to reconcile the Plan's financial statements to the Plan's Form 5500 for the year ended December 31, 2024.
    Deemed distributions of notes receivable from participants under the Plan
    In the case of participants who remain actively employed and do not repay their outstanding loan (or the interest thereon) within the time set forth in the related promissory note, the total amount of their related loans outstanding (and any interest owed) will be considered deemed distributions. Deemed distributions are excluded from the net assets available for benefits and are instead reported as an expense in the Plan's Form 5500. For the purposes of these financial statements, in conformity with GAAP, deemed distributions remain classified as "Notes receivable from participants" until a qualifying distributable event occurs.
    The following is a reconciliation of the statement of net assets available for benefits between the financial statements and Form 5500.
    10

    Table of Contents
    IAC Inc. Retirement Savings Plan
    Notes to Financial Statements (Continued)

    December 31,
    20242023
    Net assets available for benefits per the financial statements$1,573,567,743 $1,374,441,733 
    Deemed distributions of Notes receivable from participants under the Plan(36,328)(6,869)
    Net assets available for benefits per Form 5500$1,573,531,415 $1,374,434,864 

    December 31,
    20242023
    Notes receivable from participants per the financial statements$7,171,476 $7,328,136 
    Deemed distributions of Notes receivable from participants under the Plan(36,328)(6,869)
    Participant loans per Form 5500$7,135,148 $7,321,267 
    The following is a reconciliation of the statement of changes in net assets available for benefits between the financial statements and Form 5500.
     Year Ended December 31, 2024
    Net increase in plan assets per the financial statements$183,157,492 
    Net impact of deemed distributions of Notes receivable from participants under the Plan(29,459)
    Net income per Form 5500$183,128,033 
    Note 9—Subsequent Event
    On March 31, 2025, IAC completed the spin-off of Angi Inc. (“Angi”), a former subsidiary of the Company. Following this transaction and pursuant to the services agreement between IAC and Angi, Angi’s employees will continue to participate in the Plan through December 31, 2025. However, prior to December 31, 2025, Angi plans to establish a separate plan that will be maintained by Angi and the net assets available for benefits for the employees of Angi will be transferred into such plan. As of May 31, 2025, the estimated net assets available for benefits for the employees of Angi were $250.2 million.

    11

    Table of Contents

    IAC Inc. Retirement Savings Plan
    Supplemental Schedule
    EIN: 84-3727412 Plan Number: 001
    Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year)
    December 31, 2024
    (a)
    (b)
    Identity of Issuer, Borrower, Lessor, or
    Similar Party
    (c)
    Description of Investment Including
    Maturity Date, Rate of Interest,
    Collateral, Par or
    Maturity Value
    (d)
    Cost **
    (e)
    Current Value
    Vanguard Instl Index Instl Pl Registered Investment Company $188,265,832 
    T. Rowe Price Retirement 2050 Active BCommon Collective Trust Fund154,223,200 
    T. Rowe Price Retirement 2040 Active BCommon Collective Trust Fund150,584,302 
    T. Rowe Price Retirement 2045 Active BCommon Collective Trust Fund150,304,070 
    T. Rowe Price Retirement 2055 Active BCommon Collective Trust Fund138,263,825 
    T. Rowe Price Retirement 2035 Active BCommon Collective Trust Fund126,081,308 
    T. Rowe Price Retirement 2030 Active BCommon Collective Trust Fund103,850,440 
    T. Rowe Price Large Cap Growth I Registered Investment Company 66,365,929 
    T. Rowe Price Retirement 2060 Active BCommon Collective Trust Fund62,373,240 
    Vanguard Extended Market Index Institutional Fund Registered Investment Company 53,290,289 
    T. Rowe Price Retirement 2025 Active BCommon Collective Trust Fund51,199,635 
    Reliance Trust Company Stable Value FundCommon Collective Trust Fund45,683,703 
    Fidelity Small Cap Growth K6 Registered Investment Company 42,136,822 
    JP Morgan Equity Income R6 Registered Investment Company 37,792,215 
    Vanguard Total International Stock Index Fund Institutional Shares Registered Investment Company 29,838,290 
    Personal Choice Retirement Account Self-directed brokerage account 28,785,170 
    T. Rowe Price Retirement 2020 Active BCommon Collective Trust Fund25,214,009 
    MFS International Nal Growth R6 Registered Investment Company 20,542,464 
    Vanguard Total Bond Market Index Fund Institutional Shares Registered Investment Company 20,411,078 
    PIMCO Total Return Fund Registered Investment Company 16,185,514 
    T. Rowe Price Retirement 2065 Active BCommon Collective Trust Fund9,384,497 
    DFA U.S. Targeted Value CL I Registered Investment Company 8,347,943 
    T. Rowe Price Retirement Balanced Active BCommon Collective Trust Fund7,556,490 
    *IAC Inc. Common Stock FundStock Fund6,421,651 
    Loomis Sayles Investment Grade Bond Y Fund Registered Investment Company 5,905,168 
    Fidelity Emerging Markets Fund Class K Registered Investment Company 4,251,924 
    DFA Global Real Estate Securities Portfolio Registered Investment Company 3,423,554 
    T. Rowe Price International Discovery Fund Registered Investment Company 3,159,846 
    Pear Tree Polaris Foreign Value R6 Registered Investment Company 2,819,830 
    T. Rowe Price Retirement 2015 Active BCommon Collective Trust Fund1,526,963 
    PMCO Commodity Real Return Strategy Fund Institutional Class Registered Investment Company 1,088,140 
    T. Rowe Price Retirement 2010 Active BCommon Collective Trust Fund532,954 
    T. Rowe Price Retirement 2005 Active BCommon Collective Trust Fund372,620 
    State Street Institutional U.S. Government Money Market Fund (1)
    Money Market Fund200,942 
    Limited Partnership (2)
    Limited Partnership7,805 
    Total Investments, at fair value1,566,391,662 
    *Notes receivable from participantsInterest rates ranging from 4.25% to 9.50%, with maturity dates through July 31, 20397,171,476 
    Total$1,573,563,138 
    ____________________________________________
    *    Party-in-interest to the Plan as defined by ERISA.
    **    These investments are participant-directed and, therefore, cost information is not required.
    (1)    The State Street Institutional U.S. Government Money Market Fund has been broken out from the IAC Inc. Common Stock Fund for the purposes of this schedule. They are included together in the "Investment in IAC common stock fund" balance in the fair value table in "Note 3—Fair Value Measurements."
    (2)     The Limited Partnership investment has been broken out from the Personal Choice Retirement Account for purposes of this schedule. They are included together in the "Investment in self-directed brokerage account" balance in the fair value table in "Note 3—Fair Value Measurements."
    12


    SIGNATURES
    Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

    Date: June 25, 2025
    IAC Inc. Retirement Savings Plan
    By:/s/ MICHAEL H. SCHWERDTMAN
    Senior Vice President and Controller (Chief Accounting Officer)
    IAC Inc.

    13
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    $IAC
    SEC Filings

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    • SEC Form 11-K filed by IAC Inc.

      11-K - IAC Inc. (0001800227) (Filer)

      6/25/25 4:00:53 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - IAC Inc. (0001800227) (Filer)

      6/23/25 4:15:59 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

      8-K - IAC Inc. (0001800227) (Filer)

      6/17/25 4:30:19 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology

    $IAC
    Analyst Ratings

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    • Analyst resumed coverage on IAC Inc. with a new price target

      Analyst resumed coverage of IAC Inc. with a rating of Overweight and set a new price target of $60.00

      3/21/25 8:11:05 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC Inc. downgraded by Piper Sandler with a new price target

      Piper Sandler downgraded IAC Inc. from Overweight to Neutral and set a new price target of $54.00 from $68.00 previously

      12/10/24 6:53:26 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • JMP Securities initiated coverage on IAC Inc. with a new price target

      JMP Securities initiated coverage of IAC Inc. with a rating of Mkt Outperform and set a new price target of $78.00

      7/9/24 7:47:35 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology

    $IAC
    Insider Trading

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    • Director Von Furstenberg Alexander converted options into 1,257 shares, increasing direct ownership by 1% to 103,710 units (SEC Form 4)

      4 - IAC Inc. (0001800227) (Issuer)

      6/25/25 4:46:35 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • Director Spoon Alan G was granted 1,257 shares, increasing direct ownership by 0.52% to 242,429 units (SEC Form 4)

      4 - IAC Inc. (0001800227) (Issuer)

      6/25/25 4:40:22 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • Director Zannino Richard F was granted 1,257 shares, increasing direct ownership by 2% to 58,487 units (SEC Form 4)

      4 - IAC Inc. (0001800227) (Issuer)

      6/25/25 4:32:29 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology

    $IAC
    Press Releases

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    • IAC Inc. Announces Pricing of Offering of Senior Secured Notes of Dotdash Meredith

      NEW YORK, June 5, 2025 /PRNewswire/ -- IAC Inc. (NASDAQ:IAC) ("IAC") announced today that its wholly owned subsidiary, Dotdash Meredith Inc. ("DDM"), has agreed to sell $400 million aggregate principal amount of 7.625% senior secured notes due 2032 (the "Notes") in a private offering (the "Offering").  The Notes will bear interest at an interest rate of 7.625% per annum and will be issued at 100.00% of their face value.  DDM's obligations under the Notes will be guaranteed on a senior secured basis by certain of DDM's subsidiaries. DDM intends to use the proceeds of the offeri

      6/5/25 5:00:00 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • Care.com Debuts Bold New Look and Enhanced Product Experience, Unlocking the Brand's Next Chapter

      Today, Care.com, one of the largest online marketplaces to find family care and care jobs, announced a robust rebrand, unveiling a new visual identity and an improved user experience to usher the company into its next phase of growth. This transformation marks the most significant brand evolution in the company's 18-year history and reflects a deepened commitment to meeting the evolving needs of a new generation of families and caregivers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250602094521/en/ This comes on the heels of Care.com's 2025 Cost of Care Report uncovering significant mental strain on parents. Released today,

      6/2/25 9:00:00 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC to Participate in the 53rd Annual TD Cowen Technology, Media and Telecom Conference

      NEW YORK, May 21, 2025 /PRNewswire/ -- IAC (NASDAQ:IAC) will participate in the 53rd Annual TD Cowen Technology, Media and Telecom Conference on Thursday, May 29, 2025. Christopher Halpin, Executive Vice President, CFO and COO of IAC will participate in a fireside chat at 9:05 a.m. ET. Both a live audio webcast and replay of the fireside chat will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations.  About IAC IAC (NASDAQ:IAC) builds companies.  We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands.  From the single seed that started as IAC over two decades ago have emer

      5/21/25 4:10:00 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology

    $IAC
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    • IAC Nominates Tor R. Braham to Board of Directors

      Implements Corporate Governance Enhancements Follows Constructive Engagement with Arkhouse NEW YORK, April 29, 2025 /PRNewswire/ -- IAC (NASDAQ:IAC) today announced that it intends to add Tor R. Braham to its Board of Directors in connection with the Company's 2025 Annual Meeting of Stockholders. "We look forward to welcoming Tor Braham to the Board," said Bonnie Hammer, Chair of the Board's Nominating Committee. "We believe Mr. Braham's background in technology and capital markets as well as his board service experience will be valuable as IAC continues to execute its strategy." Upon his addition to the Board, Mr. Braham is expected to join the Nominating Committee, which will be renamed t

      4/29/25 7:30:00 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • Cava Group Set to Join S&P MidCap 400 and Angi to Join S&P SmallCap 600

      NEW YORK, March 26, 2025 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, and S&P SmallCap 600: Cava Group Inc. (NYSE:CAVA) will replace Altair Engineering Inc. (NASD: ALTR) in the S&P MidCap 400 effective prior to the opening of trading on Monday, March 31. Siemens AG (XETR: SIE) acquired Altair Engineering in a deal completed today.Angi Inc. (NASD: ANGI) will replace The ODP Corp. (NASD: ODP) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, April 2. S&P SmallCap 600 constituent IAC Inc. (NASD: IAC) is spinning off its ownership interest in ANGI in a transaction expected to be completed on Tuesday, April 1. Post spi

      3/26/25 5:40:00 PM ET
      $ALTR
      $ANGI
      $CAVA
      $IAC
      Computer Software: Prepackaged Software
      Technology
      Advertising
      Consumer Discretionary
    • Dotdash Meredith Appoints Jim Lawson as President of D/Cipher

      Former AdTheorent CEO to lead D/Cipher's evolution as the premier cookie-less ad targeting and buying solution for the open Internet NEW YORK, March 17, 2025 /PRNewswire/ -- Today Dotdash Meredith (DDM), the largest digital and print publisher in America, announced the appointment of Jim Lawson as President of D/Cipher, reporting directly to DDM CEO Neil Vogel, to accelerate the growth and development of its D/Cipher contextual ad-targeting solution across the open web. Jim was a co-founder of AdTheorent, a machine-learning powered DSP (media buying platform) not reliant on individual identifiers, and served as CEO from 2019 to 2024. Jim oversaw AdTheorent's growth from a startup in 2012 to

      3/17/25 10:22:00 AM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology

    $IAC
    Financials

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    • IAC Earnings Release Available on Company's Website

      NEW YORK, May 5, 2025 /PRNewswire/ -- IAC (NASDAQ:IAC) posted its first quarter financial results on the investor relations section of its website at https://ir.iac.com/quarterly-results. As announced previously, IAC will host a conference call to discuss the company's first quarter results and to answer questions. The call will be held on Tuesday, May 6, 2025, at 8:30 a.m. ET. Christopher Halpin, Executive Vice President, CFO and COO of IAC and Neil Vogel, CEO of Dotdash Meredith will participate. The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results. About IAC IAC (NASDAQ:IAC) builds companie

      5/5/25 4:10:00 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC TO ANNOUNCE Q1 2025 EARNINGS ON MAY 5th AND HOST EARNINGS CONFERENCE CALL ON MAY 6th

      NEW YORK, April 9, 2025 /PRNewswire/ -- After the close of market trading on Monday, May 5, 2025, IAC (NASDAQ:IAC) will post its first quarter results at https://ir.iac.com/quarterly-results. On Tuesday, May 6, 2025, at 8:30 a.m. ET, IAC will host a conference call to answer questions regarding the company's first quarter results. The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results.  About IAC IAC (NASDAQ:IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC 30 yea

      4/9/25 4:10:00 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • IAC COMPLETES SPIN-OFF OF ANGI, NOW AN INDEPENDENT COMPANY

      NEW YORK and DENVER, April 1, 2025 /PRNewswire/ -- IAC (NASDAQ:IAC) and Angi (NASDAQ:ANGI), a leading platform for home services, announced today the successful completion of the spin-off of IAC's full ownership stake in Angi. As a result of the spin-off, IAC's former interest in Angi is now held directly by IAC's shareholders, and Angi is an independent, publicly traded company. Today also marks Joey Levin's transition from IAC CEO.  Effective on the spin-off, Mr. Levin became Executive Chairman of Angi, where, as senior executive, he will work in partnership with Angi CEO Jeff Kip and the Angi senior management team to accomplish the company's strategic objectives. Mr. Levin will remain a

      4/1/25 8:30:00 AM ET
      $ANGI
      $IAC
      Advertising
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      Computer Software: Programming Data Processing
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    $IAC
    Large Ownership Changes

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    • Amendment: SEC Form SC 13G/A filed by IAC Inc.

      SC 13G/A - IAC Inc. (0001800227) (Subject)

      11/14/24 4:20:29 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • SEC Form SC 13G filed by IAC Inc.

      SC 13G - IAC Inc. (0001800227) (Subject)

      6/7/24 1:30:02 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology
    • SEC Form SC 13G/A filed by IAC Inc. (Amendment)

      SC 13G/A - IAC Inc. (0001800227) (Subject)

      2/13/24 5:06:19 PM ET
      $IAC
      Computer Software: Programming Data Processing
      Technology