# EDGAR Filing Document

**Accession Number:** 0001880817
**File Stem:** 0000919574-25-007063
**Filing Date:** 2025-11
**Character Count:** 15934
**Document Hash:** 5c5b3ea1f9fb30a7b8e80e56243b14be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-007063.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0000919574-25-007063

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Groupon, Inc.
- **CENTRAL INDEX KEY:** 0001490281
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ADVERTISING AGENCIES [7311]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 270903295
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-86655
- **FILM NUMBER:** 251488825

**BUSINESS ADDRESS:**
- **STREET 1:** 35 W. WACKER, FLOOR 25
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60601
- **BUSINESS PHONE:** 3128728670

**MAIL ADDRESS:**
- **STREET 1:** 35 W. WACKER, FLOOR 25
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60601
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Windward Management LP
- **CENTRAL INDEX KEY:** 0001880817

**ORGANIZATION NAME:**
- **EIN:** 872023623
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WINDWARD MANAGEMENT LLC
- **STREET 2:** 1691 MICHIGAN AVENUE, SUITE 510
- **CITY:** MIAMI BEACH
- **STATE:** FL
- **ZIP:** 33139
- **BUSINESS PHONE:** (917) 975-8455

**MAIL ADDRESS:**
- **STREET 1:** C/O WINDWARD MANAGEMENT LLC
- **STREET 2:** 1691 MICHIGAN AVENUE, SUITE 510
- **CITY:** MIAMI BEACH
- **STATE:** FL
- **ZIP:** 33139

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G Amendment No. 1 dated November 14, 2025 relating to the Common Stock, par value $0.0001 per share, of Groupon, Inc. shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; WINDWARD MANAGEMENT LP<br> By: Windward Management LLC, its general partner<br>By: /s/ Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Member |

---

---

| |
|:---|
| &nbsp;&nbsp; WINDWARD MANAGEMENT LLC<br>By: /s/ Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Member |

---

&nbsp;&nbsp; MARC CHALFIN<br>By: /s/ Marc Chalfin<br>

---

| |
|:---|
| &nbsp;&nbsp; WINDWARD MANAGEMENT PARTNERS MASTER FUND, LTD.<br>By: /s/ Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Marc Chalfin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Authorized Signatory |

---

## Ex-99

<u>Exhibit B</u>

<u>CONTROL PERSON IDENTIFICATION</u>

Windward Management LP is the relevant entity for which each of Marc Chalfin and Windward Management LLC may be considered a control person.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** Groupon, Inc.

**Title of Class of Securities:** Common Stock, par value $0.0001 per share

**CUSIP Number:** 399473206

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Windward Management LP | Names of Reporting Persons<br>Windward Management LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2644700.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2644700.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.5% | Percent of Class Represented by Amount in Row (9)<br>6.5% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, PN | Type of Reporting Person (See Instructions)<br>IA, PN |

---

| 1. | Names of Reporting Persons<br>Windward Management LLC | Names of Reporting Persons<br>Windward Management LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2644700.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2644700.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.5% | Percent of Class Represented by Amount in Row (9)<br>6.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>Marc Chalfin | Names of Reporting Persons<br>Marc Chalfin |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2644700.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2644700.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2644700.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>6.5% | Percent of Class Represented by Amount in Row (9)<br>6.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

| 1. | Names of Reporting Persons<br>Windward Management Partners Master Fund, Ltd. | Names of Reporting Persons<br>Windward Management Partners Master Fund, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2369700.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2369700.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2369700.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2369700.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.8% | Percent of Class Represented by Amount in Row (9)<br>5.8% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

---

**Item 1(a). Name of Issuer:**
Groupon, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
35 W. Wacker Drive, Floor 25, Chicago, Illinois 60601

**Item 2(a). Name of Person Filing:**
Windward Management LP
Windward Management LLC
Marc Chalfin
Windward Management Partners Master Fund, Ltd.

**Item 2(b). Address of Principal Business Office:**
Windward Management LP
C/O WINDWARD MANAGEMENT LLC
1691 MICHIGAN AVENUE, SUITE 510
MIAMI BEACH, FL 33139

Windward Management LLC
1691 MICHIGAN AVENUE, SUITE 510
MIAMI BEACH, FL 33139

Marc Chalfin
C/O WINDWARD MANAGEMENT LLC
1691 MICHIGAN AVENUE, SUITE 510
MIAMI BEACH, FL 33139

Windward Management Partners Master Fund, Ltd.
C/O WINDWARD MANAGEMENT LLC
1691 MICHIGAN AVENUE, SUITE 510
MIAMI BEACH, FL 33139

**Item 2(c). Citizenship:**
Windward Management LP - Delaware
Windward Management LLC - Delaware
Marc Chalfin - United States
Windward Management Partners Master Fund, Ltd. - Cayman Islands

**Item 2(d). Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
399473206

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Windward Management LP - 2,644,700
Windward Management LLC - 2,644,700
Marc Chalfin - 2,644,700
Windward Management Partners Master Fund, Ltd. - 2,369,700
As of September 30, 2025, the reporting persons beneficially owned 1,642,000 shares of the issuer's Common Stock, par value $0.0001 per share. The amount of Common Stock, par value $0.0001 per share of the issuer beneficially owned by the reporting persons reported in this filing is current as of the date of this filing.

**(b) Percent of class:**

Windward Management LP -6.5%
Windward Management LLC - 6.5%
Marc Chalfin - 6.5%
Windward Management Partners Master Fund, Ltd. - 5.8%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

Windward Management LP - 0
Windward Management LLC - 0
Marc Chalfin - 0
Windward Management Partners Master Fund, Ltd. - 0

**(ii) Shared power to vote or to direct the vote:**

Windward Management LP - 2,644,700
Windward Management LLC - 2,644,700
Marc Chalfin - 2,644,700
Windward Management Partners Master Fund, Ltd. - 2,369,700

**(iii) Sole power to dispose or to direct the disposition of:**

Windward Management LP - 0
Windward Management LLC - 0
Marc Chalfin - 0
Windward Management Partners Master Fund, Ltd. - 0

**(iv) Shared power to dispose or to direct the disposition of:**

Windward Management LP - 2,644,700
Windward Management LLC - 2,644,700
Marc Chalfin - 2,644,700
Windward Management Partners Master Fund, Ltd. - 2,369,700

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

All of the securities reported in this Schedule 13G are directly owned by advisory clients of Windward Management LP. None of those advisory clients, other than Windward Management Partners Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.

**Item 7. Identification and Classification of the Subsidiary**

Please see Exhibit B attached hereto.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Windward Management LP**

**Date:** 11/14/2025

**By:** By: Windward Management LLC, its general partner, By: /s/ Marc Chalfin

**Name & Title:** Marc Chalfin / Managing Member

**Windward Management LLC**

**Date:** 11/14/2025

**By:** /s/ Marc Chalfin

**Name & Title:** Marc Chalfin / Managing Member

**Marc Chalfin**

**Date:** 11/14/2025

**By:** /s/ Marc Chalfin

**Name & Title:** Marc Chalfin

**Windward Management Partners Master Fund, Ltd.**

**Date:** 11/14/2025

**By:** /s/ Marc Chalfin

**Name & Title:** Marc Chalfin / Authorized Signatory