Angi Replaces CEO Jeff Kip with Board Member Michael Steib in Major Leadership Overhaul
ANGI sits 27% above its 52-week low of $4.26.
Summary
Angi replaced CEO Jeff Kip with board member Michael Steib effective September 22, 2026. Steib's compensation is almost entirely performance-based equity tied to stock price hurdles up to $20, versus the current $5.40 price.
Key Events · Executive and Board Changes · ANGI
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CEO Transition
Jeffrey W. Kip ceased serving as CEO and board member effective September 22, 2026. Michael Steib, a board member since August 2026, was appointed CEO the same day.
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Executive Chairman Steps Back
Joseph Levin stepped down as Executive Chairman and executive officer, remaining as Chairman of the Board and an employee. Board size was reduced from ten to nine members.
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Steib's Equity-Heavy Compensation
Steib receives a $1.00 annual base salary with no cash incentive. He was granted 1,000,000 time-based RSUs vesting over four years and 1,000,000 performance-based RSUs with stock price hurdles of $10, $12, $14, and $20 — versus the current $5.40 share price.
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Kip's Severance Package
Kip receives $325,000 in cash severance, COBRA premiums for up to 18 months, and consulting through March 22, 2027. He will vest in 55,000 RSUs (Nov 2023 grant) and 166,667 RSUs (Apr 2026 grant) at the end of the consulting period.
Analysis · ANGI · Trade & Services
A single day brought sweeping changes to Angi's top ranks. Jeff Kip is out as CEO and board member, Michael Steib—who joined the board just last month—takes over as CEO, and Executive Chairman Joey Levin steps back to non-executive Chairman. The new CEO's compensation is almost entirely equity-based: a $1.00 salary with 2 million RSUs tied to stock price hurdles of $10, $12, $14, and $20, well above the current $5.40 share price. This structure aligns Steib's payout with a near-doubling of the stock price, but it also signals the board is betting on a dramatic turnaround after the $230.7 million Q2 loss and 11% revenue decline reported last month.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.4% of the 1070 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ANGI was trading at $5.40 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $224.7M. The 52-week trading range was $4.26 to $17.99. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.