SEC Form 4 · accession 0001335258-18-000131
Live Nation Entertainment, Inc. · LYV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joe Berchtold
Officer — President
Period of report
Aug 29, 2018
Accepted (ET)
Aug 31, 2018 · 5:19 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 29, 2018 | M | 20,000 | $11.44 | A | 163,409 | D | |
| Common StockF2 | Aug 29, 2018 | S | 20,000 | $49.38 | D | 143,409 | D | |
| Common Stock | Aug 30, 2018 | M | 6,100 | $11.44 | A | 149,509 | D | |
| Common Stock | Aug 30, 2018 | M | 13,900 | $11.69 | A | 163,409 | D | |
| Common StockF3 | Aug 30, 2018 | S | 20,000 | $49.35 | D | 143,409 | 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 | $11.44 | Aug 29, 2018 | M | 20,000 | D | — | Jul 15, 2021 | Common Stock | 20,000 | 6,100 | D |
| Stock Option (buy)F4 | $11.44 | Aug 30, 2018 | M | 6,100 | D | — | Jul 15, 2021 | Common Stock | 6,100 | 0 | D |
| Stock Option (buy)F5 | $11.69 | Aug 30, 2018 | M | 13,900 | D | — | Mar 13, 2023 | Common Stock | 13,900 | 117,300 | D |
Explanation of responses
- F1MR. BERCHTOLD HELD A TOTAL OF 1,428,530 SHARES AND STOCK OPTIONS, INCLUDING BOTH VESTED AND UNVESTED SHARES/STOCK OPTIONS, AS OF AUGUST 7, 2018. MR. BERCHTOLD CURRENTLY PLANS TO SYSTEMATICALLY SELL CERTAIN SHARES (INCLUDING SHARES ACQUIRED UPON EXERCISE OF STOCK OPTIONS) IN AUGUST 2018 IN ORDER TO DIVERSIFY HIS 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 MR. BERCHTOLD 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 $49.25 to $49.61. 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 $49.55. 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 July 15, 2011 pursuant to an award under the Amended and Restated Ticketmaster Entertainment, Inc. 2008 Stock and Annual Incentive Plan. These options vested in four equal installments on July 15, 2012, 2013, 2014 and 2015.
- F5The reporting person received the stock options on March 13, 2013 pursuant to an award under the Amended and Restated Ticketmaster Entertainment, Inc. 2008 Stock and Annual Incentive Plan. These options vested in two equal installments on March 31, 2014 and 2015.