SEC Form 4 · accession 0001335258-17-000018
Live Nation Entertainment, Inc. · LYV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Rapino
Officer — President & CEO · Director
Period of report
Feb 1, 2017
Accepted (ET)
Feb 3, 2017 · 6:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001335258
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 1, 2017 | M | 70,000 | $24.95 | A | 836,196 | D | |
| Common StockF3 | Feb 1, 2017 | S | 70,000 | $28.38 | D | 766,196 | D | |
| Common Stock | Feb 2, 2017 | M | 50,000 | $24.95 | A | 816,196 | D | |
| Common StockF4 | Feb 2, 2017 | S | 70,000 | $28.56 | D | 746,196 | D | |
| Common StockF5 | Feb 3, 2017 | S | 70,000 | $28.61 | D | 676,196 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (buy)F6 | $24.95 | Feb 1, 2017 | M | 70,000 | D | — | Feb 16, 2017 | Common Stock | 70,000 | 50,000 | D |
| Stock Option (buy)F6 | $24.95 | Feb 2, 2017 | M | 50,000 | D | — | Feb 16, 2017 | Common Stock | 50,000 | 0 | D |
Explanation of responses
- F1MR. RAPINO HAD 670,000 OPTIONS EXPIRING ON FEBRUARY 16, 2017. MR. RAPINO HELD A TOTAL OF 8,695,820 SHARES AND OPTIONS, INCLUDING BOTH VESTED AND UNVESTED SHARES/OPTIONS AS OF JANUARY 1, 2017. MR. RAPINO HAS PUT IN PLACE A TRADING PLAN UNDER RULE 10b5-1 IN ORDER TO SYSTEMATICALLY SELL CERTAIN SHARES ALONG WITH THESE EXPIRING OPTIONS OVER SEVERAL WEEKS.
- F2The exercises and sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2016 as further described above in Note 1.
- F3This transaction was executed in multiple trades at prices ranging from $28.10 to $28.85. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4This transaction was executed in multiple trades at prices ranging from $28.35 to $28.70. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F5This transaction was executed in multiple trades at prices ranging from $28.50 to $28.77. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F6The options vested 167,500 each on February 16, 2008 and 2009 and 335,000 on January 25, 2010, and were due to expire in February 2017.