ZipRecruiter Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
$ZIP
Computer Software: Programming Data Processing
Technology
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): October 15, 2024
(Exact name of registrant as specified in its charter)
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Item 1.01 Entry into a Material Definitive Agreement.
Lease Agreement
On October 15, 2024, ZipRecruiter, Inc. (the “Company”) entered into a lease agreement (the “Office Lease”) with SMBP LLC (the “Landlord”), with a commencement date of the later to occur of (i) sixty (60) days after the date of possession, as such date is defined in the Office Lease, and (ii) the date on which certain tenant improvements are substantially completed, as fully described in the Tenant Work Letter between the Company and the Landlord, provided that in no event shall the commencement date be deemed to occur prior to June 1, 2025 (the “Commencement Date”). The Office Lease premises consists of 24,936 square feet, located at 3000 Ocean Park Blvd. Suite 3000, Santa Monica, California 90405 (the “Premises”). The Company intends to use the Premises for its new corporate headquarters, as the lease for its current corporate headquarters is expected to expire in May 2025. The Office Lease has an initial term of 65 months with one five-year extension option. The aggregate estimated rent payments due over the initial term of the Office Lease is approximately $8.0 million. The Company paid approximately $123,000 as the first monthly installment of base rent upon the execution of the Office Lease and provided a letter of credit of $1.0 million.
The foregoing description of the Office Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Office Lease, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| ZIPRECRUITER, INC. | ||||||||
| Date: October 21, 2024 | By: | /s/ Timothy Yarbrough | ||||||
| Timothy Yarbrough | ||||||||
| Executive Vice President, Chief Financial Officer | ||||||||