Dolphin Entertainment CEO Reports Insider Purchase; Ownership Rises

Rhea-AI Filing Summary

Insider purchase increases CEO's stake in Dolphin Entertainment. The company's Chief Executive Officer and director, William O'Dowd IV, reported acquiring 3,700 shares of Dolphin Entertainment, Inc. common stock on 09/22/2025 at a weighted average price of $1.33 per share. After the purchase, Mr. O'Dowd directly beneficially owns 374,174 shares and holds additional indirect interests of 54,535 shares through Dolphin Entertainment, LLC and 62,106 shares through Dolphin Digital Media Holdings, LLC, both entities wholly owned by him. The filing notes the shares were bought in multiple transactions at prices ranging from $1.32 to $1.39 and that full allocation by price is available upon request.

Positive

• Insider purchase reported: CEO acquired additional shares, which can signal management confidence.
• Transparency: Filing discloses weighted average price and price range ($1.32–$1.39) and offers to provide per-trade allocations on request.
• Proper indirect ownership disclosure: Indirect holdings through wholly owned entities are clearly identified.

Negative

• None.

Insights

Financial Analyst

TL;DR: CEO purchased additional shares at a low price, modestly increasing direct ownership.

The 3,700-share purchase at a $1.33 weighted average is a small but constructive insider buy, signaling confidence without materially changing ownership percentages. Direct ownership of 374,174 shares plus indirect holdings through two wholly owned entities increases the alignment between management and shareholders. Transaction size relative to total shares outstanding is not provided in the filing, so the market impact is likely limited. Disclosure of the purchase price range and willingness to provide per-trade allocation adds transparency.

Corporate Governance Expert

TL;DR: Proper Section 16 disclosure; indirect holdings appropriately disclosed.

The Form 4 clearly identifies the reporting person as CEO and director and discloses indirect ownership via two wholly owned entities, which meets common governance disclosure expectations. The filing also indicates the transaction was made pursuant to a written plan under Rule 10b5-1(c), which, if accurate, provides an affirmative defense against insider trading claims. No departures from standard disclosure form requirements are evident in the provided content.

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)
09/22/2025

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	09/22/2025		P		3,700	A	$1.33(1)	374,174	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 $1.32 to $1.39, 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	09/22/2025
	** 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 the Dolphin Entertainment (DLPN) insider report?

The CEO and director, William O'Dowd IV, reported purchasing 3,700 shares of common stock on 09/22/2025 at a weighted average price of $1.33 per share.

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

He directly beneficially owns 374,174 shares and indirectly holds 54,535 shares via Dolphin Entertainment, LLC and 62,106 shares via Dolphin Digital Media Holdings, LLC.

At what prices were the shares purchased in the DLPN Form 4?

The shares were purchased in multiple transactions at prices ranging from $1.32 to $1.39, with a weighted average of $1.33 per share.

Was the transaction made under an insider trading plan?

Yes. The filing indicates the transaction was made pursuant to a contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Who indirectly owns shares on behalf of William O'Dowd IV?

Indirect ownership is held through Dolphin Entertainment, LLC and Dolphin Digital Media Holdings, LLC, both stated as wholly owned by William O'Dowd IV.