WestCap Management, LLC - 16 Sep 2025 Form 4 Insider Report for StubHub Holdings, Inc. (STUB)

Role
10%+ Owner
Signature
WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi
Issuer symbol
STUB
Transactions as of
16 Sep 2025
Net transactions value
+$29,326,907
Form type
4
Filing time
18 Sep 2025, 17:29:10 UTC
Next filing
21 Jan 2026
SEC
View on sec.gov

Reporting Owners (4)

Name Relationship Address Signature Signature date CIK
WestCap Management, LLC 10%+ Owner 590 PACIFIC AVENUE, SAN FRANCISCO WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi 18 Sep 2025 0001838470
Tosi Laurence A 10%+ Owner 590 PACIFIC AVE., SAN FRANCISCO Laurence A. Tosi /s/ Laurence A. Tosi 18 Sep 2025 0001307496
WestCap Stub Holdco 2024, LLC 10%+ Owner 590 PACIFIC AVENUE, SAN FRANCISCO WestCap Stub Holdco 2024, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi 18 Sep 2025 0002084496
WestCap StubHub Opportunity Fund Preferred, LLC WestCap StubHub holds shares of the issuer's Series O Preferred Stock. 590 PACIFIC AVE, SAN FRANCISCO WestCap StubHub Opportunity Fund Preferred, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi 18 Sep 2025 0002084123

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STUB Class A Common Stock Conversion of derivative security $29,326,907 +1,386,615 +4.6% $21.15 31,734,690 16 Sep 2025 See footnotes F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction STUB Series I Preferred Stock, par value $0.001 per share Conversion of derivative security $0 -20,000 -100% $0.000000 0 16 Sep 2025 Class A Common Stock 1,386,615 $21.15 See footnotes F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The securities reported on this line are held directly by WestCap Stub Holdco 2024, LLC ("WestCap Stub").
F2 WestCap Management, LLC ("WestCap") is the managing member of WestCap Stub and WestCap StubHub Opportunity Fund Preferred, LLC ("WestCap StubHub"). Laurence A. Tosi may be deemed to hold voting and investment control over the shares held by WestCap Stub and WestCap StubHub. Each Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any.
F3 The Series I Preferred Stock automatically converted into Class A Common Stock, par value $0.001 per share ("Class A Common Stock") on September 16, 2025, the date of pricing of the issuer's initial public offering.
F4 The Series I Preferred Stock had no stated maturity.

Remarks:

WestCap StubHub holds shares of the issuer's Series O Preferred Stock.