01—Abstract
Summary
Summary of the 8-K filed November 27, 2024. Cited figures are marked; the original filing is the authoritative source.
On November 25, 2024, VeriSign, Inc. entered into a renewed .com Registry Agreement with the Internet Corporation for Assigned Names and Numbers (ICANN).
The agreement amends and restates in its entirety the prior .com Registry Agreement dated December 1, 2012, as amended, and becomes effective December 1, 2024, the day after the current term of the prior agreement expires on November 30, 2024. The renewal adds provisions to better align with ICANN's Base Registry Agreement, including permissible increases based on the U.S. Consumer Price Index in domain name transaction fees the Company pays to ICANN, obligations related to mitigation of DNS abuse, and service level requirements for the Registration Data Access Protocol. It also adds commitments to enhance the security, stability and resiliency of the .com top-level domain, including new security incident reporting commitments and obligations to discuss business continuity.
The filing states that there are no changes to the provision governing the price the Company charges for .com domain names. Separately, the Company and ICANN entered into a second amendment to a binding Letter of Intent dated March 27, 2020, as amended July 1, 2023. The LOI, as amended, formalizes a framework for working together to enhance the security, stability and resiliency of the .com and .net TLDs and the DNS.
Under the new amendment, the parties will discuss issues related to Internationalized Domain Names and the renewal of the LOI on substantially similar terms before its December 31, 2025 expiration date. For investors, the filing's main points are the continuity of the .com registry relationship beyond the November 30, 2024 expiration and the unchanged .com pricing provision, alongside new compliance, security and fee-adjustment obligations.
02—Key points
Key Highlights
- VeriSign and ICANN signed a renewed .com Registry Agreement on November 25, 2024, effective December 1, 2024, replacing the prior agreement whose term expired November 30, 2024.
- The renewal allows permissible increases, based on the U.S. Consumer Price Index, in domain name transaction fees the Company pays to ICANN.
- The new agreement adds obligations related to mitigation of DNS abuse and service level requirements for the Registration Data Access Protocol.
- New commitments enhance security, stability and resiliency of the .com TLD, including security incident reporting and business continuity discussions.
- The filing states there are no changes to the provision governing the price the Company charges for .com domain names.
- A second amendment to the binding Letter of Intent with ICANN addresses Internationalized Domain Names and renewal of the LOI before its December 31, 2025 expiration.
- The full Registry Agreement is filed as Exhibit 10.01.
03—Questions
Frequently Asked Questions
Does the renewed agreement change what VeriSign can charge for .com domain names?
No. The filing states there are no changes to the provision governing the price that the Company charges for .com domain names.
When does the renewed .com Registry Agreement take effect?
The agreement is effective as of December 1, 2024. The prior agreement's current term expires on November 30, 2024.
What new cost exposure does the renewal create?
The agreement permits increases, based on the U.S. Consumer Price Index, in the domain name transaction fees the Company pays to ICANN. The filing does not state specific amounts.
What new operational obligations does the Company take on?
The agreement adds obligations related to DNS abuse mitigation, service level requirements for the Registration Data Access Protocol, new security incident reporting commitments, and obligations for the parties to discuss business continuity.
What is the status of the related Letter of Intent with ICANN?
The Company and ICANN entered into a second amendment to the LOI dated March 27, 2020. The parties will discuss Internationalized Domain Names and renewal of the LOI on substantially similar terms before the December 31, 2025 expiration date.
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