IAC Inc. 8-K

What Happened

• IAC Inc. (in the process of being renamed "People Incorporated") announced it received a notice of non‑renewal from Google on December 10, 2025 for a services agreement originally dated October 26, 2015. The agreement was extended through April 30, 2026 and then expired; as a result, IAC ceased operations of its Search segment.
• On June 2, 2026 IAC posted supplemental financial information on its investor website to reclassify the Search segment as discontinued operations for all prior periods in accordance with ASC 205 ("Presentation of Financial Statements").

Key Details

• Notice of non‑renewal from Google received: December 10, 2025.
• Services Agreement date: October 26, 2015; originally set to expire March 31, 2026, extended to April 30, 2026 then expired.
• IAC posted supplemental financials on June 2, 2026 to reflect the Search segment as discontinued operations (see http://ir.iac.com/quarterly-results).
• The supplemental information reflects no other changes to IAC’s reportable segments; the filing and Exhibit 99.1 are furnished (not “filed” under Section 18).

Why It Matters

• Reclassifying Search as discontinued operations will change how past and future financial results are presented and may affect comparability of IAC’s revenue and operating results in prior periods and going forward.
• The filing provides the company’s official accounting treatment of the Search business closure but does not quantify the financial impact in this 8‑K; investors should review the supplemental financial information on the company’s IR site and monitor upcoming reports for disclosed revenue, cash flow, or impairment effects.