[Form 4] Dolphin Entertainment, Inc. Insider Trading Activity

Rhea-AI Filing Summary

William O'Dowd IV, Dolphin Entertainment CEO and director, purchased 4,400 shares of DLPN common stock on 08/25/2025 at a weighted-average price of $1.126 per share. After the purchases, his direct ownership increased to 358,124 shares. He also reports indirect holdings of 54,535 shares through Dolphin Entertainment, LLC and 62,106 shares through Dolphin Digital Media Holdings, LLC; both entities are described as wholly owned by him. The Form 4 indicates the transaction was made pursuant to a written plan intended to satisfy the Rule 10b5-1 affirmative defense, and the reported purchase prices ranged from $1.07 to $1.16.

Positive

• CEO and director made a direct purchase of 4,400 DLPN shares, signaling personal financial commitment to the company
• Transaction reported under a 10b5-1 plan, indicating the purchase followed a pre-established written trading program
• Clear disclosure of indirect holdings via Dolphin Entertainment, LLC and Dolphin Digital Media Holdings, LLC, both stated as wholly owned

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases by the CEO show alignment with shareholders but the size is modest relative to total holdings.

The acquisition of 4,400 shares at an average of $1.126 is a disclosure of insider buying that can signal confidence in the company. Materiality is limited: the incremental purchase is small versus the reported direct holding of 358,124 shares and the combined indirect holdings. The use of a Rule 10b5-1 plan reduces timing-related interpretation but confirms an intent to follow a pre-established trading program. Overall, this is a neutral-to-slightly-positive corporate governance signal rather than a material value driver.

Corporate Governance Expert

TL;DR: CEO's purchase under a 10b5-1 plan demonstrates procedural compliance and modest insider reinvestment.

Reporting the transaction and identifying wholly owned entities for indirect ownership provides transparency. The checked 10b5-1 box indicates the trades were made pursuant to a written plan, which mitigates concerns about opportunistic timing. The filing clearly states the ownership structure and weighted average purchase price range, supporting clean disclosure practices. The transaction does not indicate leadership change or governance risk.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

O'Dowd William IV

(Last) (First) (Middle)

C/O DOLPHIN ENTERTAINMENT, INC.

150 ALHAMBRA CIRCLE, SUITE 1200

(Street)

CORAL GABLES FL 33134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dolphin Entertainment, Inc. [ DLPN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/25/2025		P		4,400	A	$1.126(1)	358,124	D
Common Stock								54,535	I	By Dolphin Entertainment, LLC(2)
Common Stock								62,106	I	By Dolphin Digital Media Holdings, LLC(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.07 to $1.16, inclusive. The reporting person undertakes to provide to Dolphin Entertainment, Inc., any security holder of Dolphin Entertainment, Inc or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price with the ranges set forth in this footnote (1) to this Form 4.

2. Dolphin Entertainment, LLC is an entity wholly owned by William O'Dowd IV.

3. Dolphin Digital Media Holdings LLC is an entity wholly owned by William O'Dowd IV.

	/s/ William O'Dowd IV	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did DLPN insider William O'Dowd IV report?

He reported a purchase of 4,400 shares of Dolphin Entertainment (DLPN) common stock on 08/25/2025.

At what price did the DLPN insider buy shares?

The filing shows a weighted-average price of $1.126 per share, with purchases ranging from $1.07 to $1.16.

How many shares does William O'Dowd IV own after the reported purchase?

The filing reports 358,124 shares owned directly after the transaction, plus 54,535 and 62,106 shares indirectly through his entities.

Were the DLPN trades made under a trading plan?

Yes. The Form 4 indicates the transactions were made pursuant to a written plan intended to satisfy Rule 10b5-1.

Who owns the entities that hold indirect DLPN shares?

The Form 4 states both Dolphin Entertainment, LLC and Dolphin Digital Media Holdings, LLC are wholly owned by William O'Dowd IV.