Michael Rapino - 31 Mar 2023 Form 4 Insider Report for Live Nation Entertainment, Inc. (LYV)

Signature
Brian Capo, Attorney-in-Fact for Michael Rapino
Issuer symbol
LYV
Transactions as of
31 Mar 2023
Net transactions value
-$1,554,280
Form type
4
Filing time
04 Apr 2023, 20:24:50 UTC
Previous filing
27 Feb 2023
Next filing
25 May 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LYV Common Stock Tax liability $1,554,280 -22,204 -0.64% $70.00 3,464,442 31 Mar 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld for tax purposes upon vesting of restricted stock grants. Mr. Rapino additionally used $1,000,000 of his own cash funds to pay the remaining amount of tax withholdings due, thereby retaining ownership of 14,285 shares of common stock of the Company that would have otherwise been surrendered to the Company to pay taxes. Mr. Rapino chose to use his own funds to pay this portion of the tax withholdings rather than surrendering the 14,285 shares to the Company, as is the default under the Company's equity incentive plan, in order to maintain his strong level of stock ownership in the Company. A portion of the vesting shares were shares of restricted common stock originally issued to Mr. Rapino under the Company's equity incentive plan and had performance conditions to their vesting, which performance conditions were previously satisfied. (Continued in footnote 2 below)
F2 (Continued from footnote 1 above) Mr. Rapino's current equity interests in the Company totals 5,209,081 shares, consisting of 3,464,442 shares of common stock (inclusive of vested and unvested shares), 627,602 options to purchase common stock, and a performance share award targeted at 1,117,037 shares of common stock.