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Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Prescott General Partners | 0 | 3,851,774 | 0 | 3,851,774 | 3,851,774 | 0.2% |
| Prescott Investors Profit Sharing Trust | 122,408 | 0 | 122,408 | 0 | 122,408 | 0.9% |
| Thomas W. Smith | 5 | 208,480 | 5 | 208,480 | 708,480 |
Page 1 of 9 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of
1934
(Amendment No. )*
Yelp Inc.
(Name of Issuer)
Common Stock, par value $0.000001
(Title of Class of Securities)
985817105
(CUSIP Number)
June 1, 2017
(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) |
| [ x ] | Rule 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).
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Page 2 of 9 – SEC Filing
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 3,851,774 | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 3,851,774
| |||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,851,774
| |||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES Not Applicable | |||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.8% | |||
| 12 | TYPE OF REPORTING PERSON OO | |||
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Page 3 of 9 – SEC Filing
CUSIP No. 985817105
| 1 | NAMES OF REPORTING PERSONS Prescott | ||
| 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
122,408
| |
| 6 | SHARED VOTING POWER 0
| ||
| 7 | SOLE DISPOSITIVE POWER 122,408 | ||
| 8 | SHARED DISPOSITIVE POWER 0 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
122,408
| ||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not
| ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.2%
| ||
| 12 | TYPE OF REPORTING PERSON EP | ||
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Page 4 of 9 – SEC Filing
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 500,000 | |
| 6 | SHARED VOTING POWER 208,480 | ||
| 7 | SOLE DISPOSITIVE POWER 500,000 | ||
| 8 | SHARED DISPOSITIVE POWER
208,480 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,480 | ||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.9% | ||
| 12 | TYPE OF REPORTING PERSON
IN | ||
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Page 5 of 9 – SEC Filing
| ITEM 1. | (a) | Name of Issuer: |
Yelp Inc.
| (b) | Address of Issuer’s Principal Executive Offices: |
140 New Montgomery Street, 9th Floor
San Francisco, CA
| ITEM 2. | (a) | Name of Person Filing: |
| (i) | Prescott General Partners LLC (“PGP”) |
| (iii) | Prescott Investors Profit Sharing Trust (“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
| (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
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Page 6 of 9 – SEC Filing
| ITEM 3 | 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. | 4. Ownership |
| (a) | PGP – 3,851,774 Shares; PIPS – 122,408 Shares; Thomas W. Smith – 708,480 Shares. |
| (b) | PGP – 4.8%; PIPS – 0.2%; Thomas W. Smith – 0.9%. |
| (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 3,851,774 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 122,408 Shares.
Mr.
Smith has the sole power to vote or to direct the vote of and to dispose or to direct the disposition of 500,000 Shares held by
Ridgeview Smith Investments LLC, a limited liability company established by Mr. Smith and of which he is the sole member.
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 208,480 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.
| ITEM 5. | 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 |
PGP, as the general partner of the Partnerships, may
be deemed to beneficially own 3,851,774 Shares held by the Partnerships. Mr. Smith may be deemed to beneficially own 208,480 Shares
in his capacity as an investment manager for certain managed accounts. The Partnerships and the managed accounts have the right
to receive dividends from, and the proceeds from the sale of, the Shares held by the Partnerships and the managed accounts, respectively.
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.
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Page 7 of 9 – SEC Filing
| 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.
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Page 8 of 9 – SEC Filing
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: June 12, 2017
PRESCOTT General
partners LLC
/s/ Thomas W. Smith
Name: Thomas W. Smith
Title: Managing Member
PRESCOTT INVESTORS
PROFIT SHARING TRUST
/s/ Thomas W. Smith
Name: Thomas W. Smith
Title: Trustee
/s/ Thomas W. Smith
Thomas W. Smith
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Page 9 of 9 – SEC Filing
JOINT FILING AGREEMENT
The undersigned agree that the foregoing
statement on Schedule 13G, dated June 12, 2017, is being filed with the Securities and Exchange Commission on behalf of each of
the undersigned pursuant to Rule 13d-1(k).
Date: June 12, 2017
PRESCOTT General
partners LLC
/s/ Thomas W. Smith
Name: Thomas W. Smith
Title: Managing Member
PRESCOTT INVESTORS
PROFIT SHARING TRUST
/s/ Thomas W. Smith
Name: Thomas W. Smith
Title: Trustee
/s/ Thomas W. Smith
Thomas W. Smith
