Company: MTCH
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000891103-25-000124
Chunk: 35

Company: Match Group, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 adjustment upon the occurrence of specified events.As more specifically set forth in the applicable indentures, the Exchangeable Notes are exchangeable under the following circumstances:(1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the exchange price on each applicable trading day;(2) during the five-business day period after any five-consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the exchange rate on each such trading day;(3) if the issuer calls the notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or(4) upon the occurrence of specified corporate events as further described in the indentures governing the respective Exchangeable Notes.On or after the respective exchangeable dates noted in the table above, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may exchange all or any portion of their Exchangeable Notes regardless of the foregoing conditions. Upon exchange, the issuer, in its sole discretion, has the option to settle the Exchangeable Notes with cash, shares of the Company’s common stock, or a combination of cash and shares of the Company's common stock. Any shares issued in further settlement of the notes would be offset by shares received upon exercise of the Exchangeable Note Hedges (described below).No 2026 or 2030 Exchangeable Notes were presented for exchange during the six months ended June 30, 2025. Neither of the 2026 and 2030 Exchangeable Notes were exchangeable as of June 30, 2025. At both June 30, 2025 and December 31, 2024, there was no value in excess of the principal of each of the 2026 and 2030 Exchangeable Notes outstanding on an if-converted basis using the Company’s stock price on June 30, 2025 and December 31, 2024, respectively.Additionally, all or any portion of the 2026 Exchangeable Notes may be redeemed for cash