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

Rhea-AI Filing Summary

Insider transaction overview: Dolphin Entertainment, Inc. (DLPN) filed a Form 4 showing that Chief Executive Officer and Director William O’Dowd IV purchased 4,400 shares of common stock on 06/30/2025. The transaction was coded “P,” indicating an open-market purchase.

The weighted-average purchase price was $1.132 per share, with individual trades executed between $1.12 and $1.15. Following the trade, O’Dowd’s direct holdings rose to 240,379 shares. He also reports indirect ownership of 54,535 shares through Dolphin Entertainment, LLC and 62,106 shares through Dolphin Digital Media Holdings, LLC. The filing states that both entities are wholly owned by O’Dowd.

• Transaction type: Purchase (Code “P”)
• Transaction date: 06/30/2025
• Shares purchased: 4,400
• Price range: $1.12 – $1.15 (weighted average $1.132)
• Direct shares after transaction: 240,379
• Indirect shares after transaction: 54,535 (via Dolphin Entertainment, LLC); 62,106 (via Dolphin Digital Media Holdings, LLC)
• 10b5-1 plan box: not checked

The Form 4 contains no additional derivative transactions or amendments.

Positive

• CEO purchased 4,400 shares on the open market, increasing direct ownership to 240,379 shares.
• Purchase price of $1.132 suggests CEO sees value at current trading levels.
• Timely Form 4 filing with detailed footnote indicates transparent insider disclosure.

Negative

• Small transaction size relative to existing holdings limits financial impact.
• No information is provided on broader company performance or strategic developments, so investor insight is limited to a minor insider trade.

Insights

Securities Analyst

TL;DR: CEO bought 4,400 DLPN shares at $1.132; modest but positive insider signal.

The filing reports a small open-market purchase by the company’s most senior insider. While 4,400 shares is minor compared with his existing 240 k direct stake, any non-10b5-1 purchase by the CEO generally aligns management with shareholders. The weighted average price establishes a recent trading range of roughly $1.13, useful as a reference for liquidity analysis. Because no sales were reported, the transaction marginally improves the insider ownership profile but is unlikely to materially affect the share-count or valuation.

Corporate Governance Expert

TL;DR: Filing shows transparent insider buy, no governance red flags detected.

The CEO’s purchase, disclosed promptly, adheres to Section 16 reporting requirements. The absence of a 10b5-1 designation implies discretionary buying, suggesting confidence, but the small size limits governance impact. Both indirect holding vehicles are wholly owned, so beneficial ownership is clearly attributed. No derivative positions or complex instruments appear, reducing potential conflicts. Overall, the governance reading is neutral-to-positive, with full compliance and straightforward disclosure.

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)
06/30/2025

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	06/30/2025		P		4,400	A	$1.132(1)	240,379	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 $1.12 to $1.15, 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	06/30/2025
	** 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

How many DLPN shares did CEO William O'Dowd IV buy?

He purchased 4,400 shares of Dolphin Entertainment common stock.

What was the purchase price disclosed in the Form 4 filing?

The weighted-average price was $1.132 per share, with individual trades between $1.12 and $1.15.

How many shares does the CEO own after the transaction?

Direct ownership is 240,379 shares; he also indirectly owns 54,535 and 62,106 shares through two wholly owned entities.

Was the transaction part of a Rule 10b5-1 trading plan?

No. The 10b5-1 checkbox was not marked, indicating the purchase was discretionary.

What type of insider transaction code was used?

The Form 4 lists transaction code “P”, denoting an open-market purchase.