SEC Form 4 · accession 0001335258-18-000127
Live Nation Entertainment, Inc. · LYV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Elizabeth Kathleen Willard
Officer — EVP & Chief Financial Officer
Period of report
Aug 22, 2018
Accepted (ET)
Aug 24, 2018 · 5:34 pm EDT
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 | Aug 22, 2018 | M | 20,000 | $11.01 | A | 259,338 | D | |
| Common StockF2 | Aug 22, 2018 | S | 20,000 | $49.22 | D | 239,338 | D | |
| Common Stock | Aug 23, 2018 | M | 20,000 | $11.01 | A | 259,338 | D | |
| Common StockF3 | Aug 23, 2018 | S | 20,000 | $49.44 | D | 239,338 | 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)F4 | $11.01 | Aug 22, 2018 | M | 20,000 | D | — | Jun 23, 2020 | Common Stock | 20,000 | 128,040 | D |
| Stock Option (buy)F4 | $11.01 | Aug 23, 2018 | M | 20,000 | D | — | Jun 23, 2020 | Common Stock | 20,000 | 108,040 | D |
Explanation of responses
- F1MS. WILLARD HELD A TOTAL OF 1,271,124 SHARES AND STOCK OPTIONS, INCLUDING BOTH VESTED AND UNVESTED SHARES/STOCK OPTIONS, AS OF AUGUST 7, 2018. MS. WILLARD CURRENTLY PLANS TO SYSTEMATICALLY SELL CERTAIN SHARES (INCLUDING SHARES ACQUIRED UPON EXERCISE OF STOCK OPTIONS) IN AUGUST 2018 IN ORDER TO DIVERSIFY HER PORTFOLIO AND FOR TAX PLANNING PURPOSES. THE SECURITIES REPORTED AS SOLD ON THIS FORM 4 REPRESENT APPROXIMATELY 3% OF THE SHARES AND STOCK OPTIONS HELD BY MS. WILLARD ON AUGUST 7, 2018, IMMEDIATELY PRIOR TO THE COMMENCEMENT OF THE PLANNED SELLING ACTIVITY.
- F2This transaction was executed in multiple trades at prices ranging from $49.07 to $49.38. 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.
- F3This transaction was executed in multiple trades at prices ranging from $49.25 to $49.64. 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.
- F4The reporting person received the stock options on June 23, 2010 pursuant to an award under the Live Nation Entertainment, Inc. 2005 Stock Incentive Plan, as amended and restated as of March 19, 2015. These options vested in four equal installments on June 23, 2011, 2012, 2013 and 2014.