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IAC Inc.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

PPLI$42.08+2.6%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

For the Fiscal Year Ended December 31, 2025

Or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from__________to__________

Commission File No.001-39356

IAC Inc.

(Exact name of registrant as specified in its charter)

Delaware84-3727412
(State or other jurisdictionof incorporation or organization)(I.R.S. Employer Identification No.)

555 West 18th Street, New York, New York 10011

(Address of registrant's principal executive offices)

(212)314-7300

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of exchange on which registered
Common Stock, par value $0.0001IACThe Nasdaq Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared or issues its audit report☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

As of February 2, 2026, the following shares of the registrant's Common Stock were outstanding:

Common Stock71,118,465
Class B Common Stock5,789,499
Total76,907,964

The aggregate market value of the voting common stock held by non-affiliates of the registrant as of June 30, 2025 was $2,712,201,206. For the purpose of the foregoing calculation only, all directors and executive officers of the registrant are assumed to be affiliates of the registrant.

Documents Incorporated By Reference:

Portions of the registrant's proxy statement for its 2026 Annual Meeting of Stockholders are incorporated by reference into Part III herein.

TABLE OF CONTENTS

PageNumber
PART I
Item 1.Business2
Item 1A.Risk Factors16
Item 1B.Unresolved Staff Comments31
Item 1C.Cybersecurity31
Item 2.Properties94
Item 3.Legal Proceedings33
Item 4.Mine Safety Disclosures33
PART II
Item 5.Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities34
Item 6.Reserved34
Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations35
Item 7A.Quantitative and Qualitative Disclosures About Market Risk62
Item 8.Financial Statements and Supplementary Data63
Note 1—Organization71
Note 2—Summary of Significant Accounting Policies72
Note 3—Financial Instruments and Fair Value Measurements87
Note 4—Goodwill and Intangible Assets90
Note 5—Leases92
Note 6—Long-Term Debt94
Note 7—Shareholders' Equity97
Note 8—Accumulated Other Comprehensive Loss98
Note 9—Segment Information99
Note 10—Stock-Based Compensation104
Note 11—Pension and Post-Retirement Benefit Plans107
Note 12—Income Taxes114
Note 13—(Loss) Earnings Per Share118
Note 14—Financial Statement Details122
Note 15—Contingencies124
Note 16—Related Party Transactions125
Note 17—Discontinued Operations126
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure129
Item 9A.Controls and Procedures129
Item 9B.Other Information131
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections131
PART III
Item 10.Directors, Executive Officers and Corporate Governance132
Item 11.Executive Compensation132
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters132
Item 13.Certain Relationships and Related Transactions, and Director Independence132
Item 14.Principal Accountant Fees and Services132
PART IV
Item 15.Exhibits and Financial Statement Schedules133
ContentsView on SEC.gov

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