Schwarzbach David A 4

What Happened
David A. Schwarzbach, Chief Financial Officer of Yelp Inc. (YELP), sold 7,500 shares on March 23, 2026 at $25.00 per share, generating $187,500. The Form 4 lists the transaction as an open-market or private sale and shows the disposition code "S" (sale).

Key Details

• Transaction date: 2026-03-23; reported on Form 4 filed 2026-03-25 (appears timely).
• Price: $25.00 per share; Total proceeds: $187,500.
• Shares disposed: 7,500.
• Shares owned after transaction: Not disclosed on the provided summary of the filing.
• Footnote: Sale was made pursuant to a pre-established 10b5-1 trading plan adopted August 14, 2025.
• Transaction type: Sale (routine disposition) — not a purchase or option exercise.

Context
Sales executed under a 10b5-1 plan are pre-arranged and typically scheduled in advance, so they don’t necessarily reflect the insider’s current view of the company. For retail investors, purchases are often more informative about insider confidence; this filing documents a routine, pre-planned sale.