EverQuote announces $21M repurchase of shares from Link Ventures

EverQuote (EVER) agreed to repurchase an aggregate of 900,000 shares of its Class A common stock, resulting in an aggregate repurchase price of $21M from Link Ventures, which is an entity affiliated with funds advised by David Blundin, EverQuote’s Chairman and Co-Founder, and other affiliated entities of Mr. Blundin. The transaction was executed on a price per share of $23.33, which represents a 1.75% discount to Friday’s closing price and a 3.96% discount on the Company’s 10-day volume-weight average price on August 8, 2025, and comes in part of the $50 million share repurchase program announced on August 4, 2025. In connection with the Repurchase, Mr. Blundin and Link Ventures entered into a 180-day lock-up agreement with EverQuote which restricts the sale or transfer of any of EverQuote’s shares of capital stock beneficially owned by Mr. Blundin, subject to customary exceptions, including sales pursuant to his previously adopted 10b5-1 trading plan. After 90 days following the closing of the Repurchase, Mr. Blundin may adopt a new 10b5-1 trading plan, so long as such plan does not permit sales during the 180-day lock-up period, and may sell shares in private placements to long-only investors reasonably acceptable to EverQuote. Following the Repurchase, Link Ventures and affiliated entities of Mr. Blundin will remain EverQuote’s largest shareholder, owning 18.8% of EverQuote’s total common shares outstanding and 56.8% of EverQuote’s voting power, down from 20.8% of EverQuote’s shares outstanding and 57.4% of EverQuote’s voting power prior to the Repurchase. Prior to the Repurchase, EverQuote had approximately 36.6 million shares of Class A common stock and Class B common stock outstanding. Following the Repurchase, EverQuote will have approximately 35.7 million shares of Class A common stock and Class B common stock outstanding. The Repurchase is expected to close by August 12, 2025.