Starboard Value LP Reports 4.6% Stake in Match Group, Inc. with Derivative Exposure

Starboard Value LP and its affiliates filed an amendment to their Schedule 13D on May 6, 2026, reporting a 4.6% beneficial ownership stake in Match Group, Inc. (MTCH). The reporting group, led by Jeffrey C. Smith and Peter A. Feld, now beneficially owns 10,833,200 shares of Common Stock. This position includes 1,330,114 shares underlying forward purchase contracts exercisable within 60 days. Additionally, the group holds economic exposure to another 1,237,449 shares through cash-settled total return swaps, which do not carry voting or dispositive power. The filing details multiple open-market transactions over the preceding 60 days, including various sales of common stock across different Starboard entities between April 30 and May 5, 2026, at prices ranging approximately from $30.14 to $38.17 per share. The group utilized working capital for these acquisitions, with aggregate purchase prices detailed for each participating master fund and account. This filing marks a significant update to their initial July 2024 disclosure, establishing their current activist-related position in the dating app parent company.