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

Reporting relationship: 10%+ Owner
Issuer ticker: STUB
Reported as of: 16 Sep 2025
Net transaction value: +$29,326,907
SEC form: 4
Accepted by SEC: 18 Sep 2025, 17:29:10 UTC
Next SEC filing: 21 Jan 2026
Source filing: View source filing
Reporting owner signature: WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi

Key filing fact

WestCap Management, LLC filed Form 4 for StubHub Holdings, Inc. (STUB) on 18 Sep 2025.

Key facts

This page summarizes WestCap Management, LLC's Form 4 filing for StubHub Holdings, Inc. (STUB).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 18 Sep 2025, 17:29.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: +$29,326,907.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (4)

CIK 0001838470 Primary reporting owner

WestCap Management, LLC

Relationship: 10%+ Owner
Address: 590 PACIFIC AVENUE, SAN FRANCISCO
Signature: WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi
Signature date: 18 Sep 2025

CIK 0001307496

Tosi Laurence A

Relationship: 10%+ Owner
Address: 590 PACIFIC AVE., SAN FRANCISCO
Signature: Laurence A. Tosi /s/ Laurence A. Tosi
Signature date: 18 Sep 2025

CIK 0002084496

WestCap Stub Holdco 2024, LLC

Relationship: 10%+ Owner
Address: 590 PACIFIC AVENUE, SAN FRANCISCO
Signature: WestCap Stub Holdco 2024, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi
Signature date: 18 Sep 2025

CIK 0002084123

WestCap StubHub Opportunity Fund Preferred, LLC

Relationship: WestCap StubHub holds shares of the issuer's Series O Preferred Stock.
Address: 590 PACIFIC AVE, SAN FRANCISCO
Signature: WestCap StubHub Opportunity Fund Preferred, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi
Signature date: 18 Sep 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

STUB transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $29,326,907
Shares: +1,386,615
Change %: +4.6%
Price: $21.15
Shares after: 31,734,690
Date: 16 Sep 2025
Ownership: See footnotes
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

STUB transaction Derivative

Series I Preferred Stock, par value $0.001 per share

Conversion of derivative security

Transaction value: $0
Shares: -20,000
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 16 Sep 2025
Ownership: See footnotes
Underlying class: Class A Common Stock
Underlying amount: 1,386,615
Exercise price: $21.15
Footnotes: F1, F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

The securities reported on this line are held directly by WestCap Stub Holdco 2024, LLC ("WestCap Stub").

Footnote 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.

Footnote 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.

Footnote F4

The Series I Preferred Stock had no stated maturity.

SEC remarks

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