Angi Inc. Reports Q2 Results; Board Appointment and CEO PSU Amendment

What Happened

• Angi Inc. (ANGI) filed an 8-K on August 4, 2026 reporting its results for the quarter ended June 30, 2026 and posted a related press release on its Investor Relations site. The company also reported a board change: director Jeremy Philips resigned effective August 4, 2026 (he had served since November 2021), and the Board appointed Michael Steib as a Class III director effective August 4, 2026. Separately, on August 3, 2026 the Compensation Committee approved an amendment and restatement of CEO Jeffrey W. Kip’s Performance Stock Unit (PSU) award.

Key Details

• Quarter results: press release posted and furnished as Exhibit 99.1 to the 8-K (quarter ended June 30, 2026).
• Board change: Jeremy Philips resigned (no disagreement with the company); Michael Steib (age 50) appointed as director, term expiring at the 2027 Annual Meeting. Mr. Steib’s background includes recent CEO roles at TEGNA, Artsy, and XO Group and prior board service at Ally Financial.
• Director pay for Steib: eligible for standard non-employee director pay — $50,000 annual cash retainer plus an RSU grant with a grant-date fair value of $250,000.
• Audit Committee: Thomas C. Pickett Jr. (director since Aug 2023) was added to the Audit Committee and will receive an additional $10,000 annual cash retainer for that role.
• CEO PSU amendment: the original award covered 280,000 PSUs with four tranches tied to stock-price goals ($45, $60, $75, $100). The A&R PSU Agreement (dated Aug 3, 2026) removes the stock-price goals for the 3rd and 4th tranches so they vest based on continued service; the 1st and 2nd tranches remain subject to the earlier of time-based vesting dates or achieving the stock-price goals. The amendment also changes vesting treatment on certain terminations and provides for pro rata vesting on a Qualifying Termination (12 months’ scheduled vesting) and full vesting if a Qualifying Termination occurs within two years of a change in control.

Why It Matters

• The earnings release is the immediate source for the company’s recent financial performance and will be the primary driver of near-term investor reaction. The board appointment adds a director with digital-product and marketplace experience, potentially relevant to Angi’s strategy. The CEO PSU amendment reduces some performance hurdles (time-based vesting for later tranches) and strengthens vesting on certain terminations and change-in-control events, which affects executive retention incentives and could influence long-term share-based compensation dilution and management alignment.