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On December 21, 2023, ZipRecruiter Inc. (the “Company”) entered into a Cancellation of Restricted Stock Unit letter agreement (the “Cancellation Agreement”) with Ian Siegel, the Company’s Chief Executive Officer, the form of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. The Cancellation Agreement provides for the cancellation of the 1,398,000 market-based restricted stock units granted to Mr. Siegel on April 19, 2021 (the “RSUs”) under the Company’s 2014 Equity Incentive Plan. As of the date of the Cancellation Agreement, none of the performance milestones set forth in the RSU award agreement had been met so that all of the RSUs were unvested. Under applicable accounting rules, the cancellation will result in an acceleration of unrecognized stock compensation expense from future periods into the fourth quarter of 2023. The one-time non-cash expense is estimated to be approximately $7.5 million, even though no portion of the RSUs will vest or become outstanding shares. The cancellation of the RSUs will reduce the potential dilution associated with these awards and the Company will no longer be required to recognize the expense associated with these awards over future fiscal quarters. The Board of Directors continuously evaluates compensation for the Company’s executives and may consider new equity compensation for Mr. Siegel in the future.

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.