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    SEC Form SC 13G/A filed by Yelp Inc. (Amendment)

    2/14/23 4:06:52 PM ET
    $YELP
    Other Consumer Services
    Consumer Discretionary
    Get the next $YELP alert in real time by email
    SC 13G/A 1 tm236350d2_sc13ga.htm SC 13G/A

     

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13G

     

    Under the Securities Exchange Act of 1934

    (Amendment No.  6)*

     

    Yelp Inc.

    (Name of Issuer)

     

    Common Stock, par value $0.000001

    (Title of Class of Securities)

     

    985817105

    (CUSIP Number)

     

    December 30, 2022

    (Date of Event which Requires filing of this Statement)

     

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

     

    ¨Rule 13d-1(b)
    xRule 13d-1(c)
    ¨Rule 13d-1(d)

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

     

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

     

     

    CUSIP No.  985817105

     

    1

    NAMES OF REPORTING PERSONS

    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

     

    Prescott General Partners LLC

       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

    (a) ¨

    (b) x

       
    3

    SEC USE ONLY

     

     

    4

    CITIZEN OR PLACE OF ORGANIZATION

     

    Delaware

     

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON
    WITH
    5

    SOLE VOTING POWER

     

    0

     

    6

    SHARED VOTING POWER

     

    2,524,750

     

    7

    SOLE DISPOSITIVE POWER

     

    0

     

    8

    SHARED DISPOSITIVE POWER

     

    2,524,750

     

    9

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    2,524,750

     

    10

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

    Not Applicable

     

    11

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

    3.6%

     

    12

    TYPE OF REPORTING PERSON

     

    OO

     

     

    - 2 - 

     

     

    CUSIP No.  985817105

     

    1

    NAMES OF REPORTING PERSONS

    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

     

    Prescott Investors Profit Sharing Trust

       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

    (a) ¨

    (b) x

       
    3

    SEC USE ONLY

     

     

    4

    CITIZEN OR PLACE OF ORGANIZATION

     

    Delaware

     

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON
    WITH
    5

    SOLE VOTING POWER

     

    43,131

     

    6

    SHARED VOTING POWER

     

    0

     

    7

    SOLE DISPOSITIVE POWER

     

    43,131

     

    8

    SHARED DISPOSITIVE POWER

     

    0

     

    9

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    43,131

     

    10

    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

     

    Not Applicable

     

    11

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    0.0%

     

    12

    TYPE OF REPORTING PERSON

     

    EP

     

     

    - 3 - 

     

     

    CUSIP No.  985817105

     

    1

    NAMES OF REPORTING PERSONS

    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

     

    Thomas W. Smith

       
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 

    (a) ¨

    (b) x

       
    3

    SEC USE ONLY

     

     

    4

    CITIZEN OR PLACE OF ORGANIZATION

     

    United States

     

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON
    WITH
    5

    SOLE VOTING POWER

     

    774,000

     

    6

    SHARED VOTING POWER

     

    154,380

     

    7

    SOLE DISPOSITIVE POWER

     

    774,000

     

    8

    SHARED DISPOSITIVE POWER

     

    154,380

     

    9

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    928,380

     

    10

    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

     

    Not Applicable

     

    11

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     

    1.3%

     

    12

    TYPE OF REPORTING PERSON

     

    IN

     

     

    - 4 - 

     

     

    Explanatory Note:

     

    The following constitutes Amendment No. 6 to the joint filing on Schedule 13G by Prescott General Partners LLC (“PGP”), Prescott Investors Profit Sharing Trust (“PIPS”) and Thomas W. Smith originally filed with the Securities and Exchange Commission (the “SEC”) on July 1, 2017, as amended by Amendment No. 1 filed with the SEC on February 14, 2018, Amendment No. 2 filed with the SEC on February 14, 2019, Amendment No. 3 filed with the SEC on February 14, 2020, Amendment No. 4 filed with the SEC on February 16, 2021, and Amendment No. 5 filed with the SEC on February 14, 2022 (as amended, the “Schedule 13G”). Unless otherwise indicated, all capitalized terms used herein shall have the meanings given to them in the Schedule 13G.

     

    ITEM 1.(a) Name of Issuer:

     

    Yelp Inc.

     

    (b)Address of Issuer's Principal Executive Offices:

     

    350 Mission Street, 10th Floor

    San Francisco, CA 94105

     

    ITEM 2.(a) Name of Person Filing:

     

    (i) PGP

     

    (ii) PIPS

     

    (iii) Thomas W. Smith

     

    The joint filing of this statement shall not be deemed to be an admission that the reporting persons (the “Reporting Persons”) comprise a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. The Reporting Persons each disclaim beneficial ownership of the shares reported in this statement in excess of those shares as to which they have or share voting or investment authority.

     

    (b)Address of Principal Business Office:

     

    The following is the address of the principal business office of each of the Reporting Persons:

     

    2200 Butts Road, Suite 320

    Boca Raton, FL 33431

     

    - 5 - 

     

     

    (c)Citizenship:

     

    PGP is a Delaware limited liability company. PIPS is an employee profit-sharing plan organized under the laws of the State of Delaware. Thomas W. Smith is a United States citizen.

     

    (d)Title of Class of Securities:

     

    Common Stock, par value $0.000001 (the “Shares”).

     

    (e)CUSIP Number:

     

    985817105

     

    ITEM 3.If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:

     

    Not applicable.

     

    If this Statement is filed pursuant to Rule 13d-1(c), check this box x

     

    ITEM 4.Ownership

     

    (a)

    PGP – 2,524,750 Shares; PIPS – 43,131 Shares; Thomas W. Smith – 928,380 Shares.

     

    (b)

    PGP – 3.6%; PIPS – 0.0%; Thomas W. Smith – 1.3%.

     

    (c)

    PGP, as the general partner of three private investment limited partnerships (the “Partnerships”), may be deemed to share the power to vote or to direct the vote and to dispose or to direct the disposition of 2,524,750 Shares held by the Partnerships.

     

    PIPS has the sole power to vote or to direct the vote of and to dispose or to direct the disposition of 43,131 Shares.

     

    Mr. Smith has the sole power to vote or to direct the vote of and to dispose or to direct the disposition of 774,000 Shares held by Ridgeview Smith Investments LLC, a limited liability company established by Mr. Smith, the sole member of which is a revocable trust established by Mr. Smith for the benefit of his family.

     

    In his capacity as investment manager for certain managed accounts, Mr. Smith may be deemed to have the shared power to vote or to direct the vote of and to dispose or to direct the disposition of 154,380 Shares. Voting and investment authority over managed accounts established for the benefit of certain family members and friends of Mr. Smith is subject to each beneficiary’s right, if so provided, to terminate or otherwise direct the disposition of the managed account.

     

    - 6 - 

     

     

    ITEM 5.Ownership of Five Percent or Less of a Class

     

    Not applicable.

     

    ITEM 6.Ownership of More than Five Percent on Behalf of Another Person

     

    Not applicable.

     

    ITEM 7.Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

     

    Not applicable.

     

    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.

     

    - 7 - 

     

     

    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.

     

    Date:February 14, 2023

     

      PRESCOTT General partners LLC
       
      /s/ Scott J. Vassalluzzo
      Name: Scott J. Vassalluzzo
      Title: Managing Member
       
       
      PRESCOTT INVESTORS PROFIT SHARING TRUST
       
      /s/ Scott J. Vassalluzzo
      Name: Scott J. Vassalluzzo
      Title: Trustee
       
       
      /s/ Thomas W. Smith 
      Thomas W. Smith

     

    - 8 - 

     

     

    JOINT FILING AGREEMENT

     

    The undersigned agree that the foregoing Amendment No. 6 to Schedule 13G, dated February 14, 2023, is being filed with the Securities and Exchange Commission on behalf of each of the undersigned pursuant to Rule 13d-1(k).

     

    Date:February 14, 2023

     

      PRESCOTT General partners LLC
       
      /s/ Scott J. Vassalluzzo
      Name: Scott J. Vassalluzzo
      Title: Managing Member
       
       
      PRESCOTT INVESTORS PROFIT SHARING TRUST
       
      /s/ Scott J. Vassalluzzo
      Name: Scott J. Vassalluzzo
      Title: Trustee
       
       
      /s/ Thomas W. Smith 
      Thomas W. Smith

     

    - 9 - 

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