A joint Form 4 filed on August 14, 2026, by SLTA V (GP), L.L.C. and affiliated Silver Lake entities discloses the sale of 12,500,000 shares of First Advantage Corporation common stock on August 12, 2026, at a net price of $22.015 per share in a registered secondary public offering, along with in-kind distributions of additional shares among affiliated entities.

Key Highlights

  • Secondary offering sale: 12,500,000 shares of First Advantage Corporation common stock were disposed of on August 12, 2026, at $22.015 per share (transaction code S).
  • Offering price and discount: The $22.015 net price reflects the $22.20 secondary public offering price less an underwriting discount of $0.185 per share, according to the filing.
  • In-kind distribution: 4,028,842 shares were disposed of on August 12, 2026, via a transaction coded J at $0.00, representing in-kind distributions initiated by SLP Fastball Aggregator, L.P. and certain affiliates.
  • Remaining indirect stake: Following both transactions, 73,028,998 shares are reported as indirectly beneficially owned through SLP Fastball Aggregator, L.P.
  • Multiple reporting persons: The filing is jointly made by SLTA V (GP), L.L.C.; Silver Lake Group, L.L.C.; Silver Lake Technology Associates V, L.P.; SLP Fastball Aggregator, L.P.; SLP V Aggregator GP, L.L.C.; and Joseph Osnoss, each identified as a Director and/or 10% Owner.
  • Director affiliation: Joseph Osnoss serves as a member of the board of directors of First Advantage Corporation and is a Managing Member of Silver Lake Group, L.L.C., according to the filing.

Silver Lake Entities Reduce First Advantage Position via Registered Offering and In-Kind Distributions

According to the filing, SLP Fastball Aggregator, L.P. sold 12,500,000 shares of First Advantage Corporation (NASDAQ:FA) common stock on August 12, 2026, at a net per-share price of $22.015. The filing states this figure equals the $22.20 secondary public offering price minus an underwriting discount of $0.185 per share. The shares are held indirectly through SLP Fastball Aggregator, L.P., which sits within a chain of Silver Lake entities culminating in Silver Lake Group, L.L.C. as managing member.

In addition to the sale, the filing reports a same-day transaction coded J in which 4,028,842 shares were disposed of at $0.00, described as in-kind distributions of common stock initiated by SLP Fastball and certain affiliates. The filing notes that the receipt of shares by each reporting person in connection with these distributions "was exempt from reporting pursuant to Rule 16a-13 of the Securities Exchange Act of 1934, as amended." Following both transactions, the filing reports 73,028,998 shares indirectly beneficially owned through SLP Fastball Aggregator, L.P.

The filing also discloses several smaller share positions held by or on behalf of Joseph Osnoss and affiliated entities, including 12,562 shares held indirectly through an unspecified entity, 132,306 shares held through Silver Lake Group, L.L.C., 168,662 shares held directly, 47,753 shares held indirectly through a family trust, and 381,374 shares held by SLTA V and Silver Lake Group, L.L.C. on behalf of employees and managing members. The filing states each reporting person "disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein, if any."

What Was Disclosed

The jointly filed Form 4 discloses a sale of 12,500,000 First Advantage Corporation shares at $22.015 per share and in-kind distributions of 4,028,842 shares on August 12, 2026, by Silver Lake-affiliated entities, with 73,028,998 shares remaining indirectly held after both transactions.