EverQuote Announces $21 Million Repurchase of Shares from Link Ventures and Affiliated Entities Controlled by Chairman and Co-Founder, David Blundin

Core Viewpoint - EverQuote, Inc. has announced a share repurchase of 900,000 shares for a total of $21 million, part of a $50 million buyback program, reflecting confidence in long-term growth and cash flow generation [1][2][4]. Group 1: Share Repurchase Details - The repurchase price per share is $23.33, which is a 1.75% discount to the closing price and a 3.96% discount to the 10-day volume-weighted average price [1]. - Following the repurchase, EverQuote will have approximately 35.7 million shares outstanding, down from 36.6 million [4]. - The transaction is expected to close by August 12, 2025 [4]. Group 2: Shareholder Impact - After the repurchase, Link Ventures and affiliated entities will own 18.8% of EverQuote's total common shares and 56.8% of its voting power, a decrease from 20.8% and 57.4% respectively [4]. - David Blundin, Chairman and Co-Founder of EverQuote, remains the largest shareholder and has expressed commitment to the company's AI strategy [2][4]. Group 3: Governance and Approval - The repurchase was approved by the Audit Committee of EverQuote's Board of Directors, which consists solely of independent directors [5]. - A 180-day lock-up agreement has been established for Mr. Blundin and Link Ventures, restricting the sale or transfer of shares [3].