People Incorporated Revises 2025 10‑K: Name Change, Discontinued Search

What Happened

• People Incorporated (formerly IAC Inc.) filed an 8-K on Sept. 11, 2026 to revise portions of its 2025 Form 10‑K (MD&A, market risk and financial statements). The filing updates the report to reflect the company’s name change (IAC Inc. → People Incorporated, effective June 4, 2026), a subsidiary renaming (Dotdash Meredith Inc. → People Inc. Group, effective June 30, 2026), and several accounting and reporting changes. The Search segment was classified as discontinued following the expiration of the Google Services Agreement on April 30, 2026, and Care.com was classified as discontinued after its sale on March 16, 2026. The company also revised its definition of Adjusted EBITDA beginning in Q2 2026 and reclassified the digital portion of a legacy agency from Print to Digital effective Jan. 1, 2026.

Key Details

• Name changes: IAC Inc. → People Incorporated (effective June 4, 2026); Dotdash Meredith Inc. → People Inc. Group (effective June 30, 2026).
• Search segment: Google Services Agreement expired April 30, 2026 (notice of non‑renewal received Dec. 10, 2025); Search operations ceased and are presented as discontinued operations for all periods.
• Care.com: Sold March 16, 2026 and presented as discontinued operations for all periods.
• Adjusted EBITDA: Company revised its Adjusted EBITDA definition beginning in Q2 2026 to exclude certain items management views as non‑core or affecting comparability.
• Reporting change: Digital portion of a legacy agency moved from Print to Digital reporting (effective Jan. 1, 2026) to align with D/Cipher advertising capabilities.

Why It Matters

• For investors, the reclassifications and the Adjusted EBITDA definition change will affect comparability of historical results and non‑GAAP metrics; revenue, margins and segment results may shift between continuing and discontinued operations and between Print and Digital segments. The updated MD&A and financial statements (included as Exhibit 99.1) replace the corresponding sections of the 2025 Form 10‑K only and do not otherwise update the 10‑K. Review the revised disclosures to understand how operating results and non‑GAAP measures have been restated before comparing past and future performance.