Dolphin Entertainment CEO reports 3,700-share purchase; weighted avg $1.322

Rhea-AI Filing Summary

William O'Dowd IV, Chief Executive Officer and a director of Dolphin Entertainment, Inc. (DLPN), reported an open-market purchase on 09/29/2025 of 3,700 shares of Common Stock at a weighted average price of $1.322 per share (purchases ranged from $1.31 to $1.33). After the transaction he reports 377,874 shares owned directly and additional indirect holdings of 54,535 shares via Dolphin Entertainment, LLC and 62,106 shares via Dolphin Digital Media Holdings, LLC. The filing includes a footnote offering to provide a breakdown of the number of shares purchased at each price within the stated range.

Positive

• CEO and director purchased shares, showing insider alignment with the company by acquiring Common Stock on the open market.
• Transparent pricing disclosure: the filing reports a weighted average price of $1.322 and discloses the $1.31–$1.33 purchase range with an offer to provide a full breakdown on request.
• Clear ownership disclosure: the Form 4 specifies direct ownership of 377,874 shares and indirect holdings of 54,535 and 62,106 shares via wholly owned entities.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: CEO purchased company shares, signaling alignment with shareholders but transaction size appears routine for an insider.

The Form 4 shows the CEO and director made a modest open-market purchase of 3,700 shares at a weighted average price of $1.322. Insider purchases by senior executives typically indicate confidence or alignment with shareholder interests; however, the filing does not disclose any change in compensation, planned grants, or other governance actions. Ownership disclosure includes both direct and indirect holdings through two wholly owned entities, which is customary for structuring insider holdings. The filing is informational and routine rather than transformative.

Securities Analyst

TL;DR: A small open-market buy by the CEO; not material to capital structure but worth noting for short-term insider activity tracking.

The reported 3,700-share purchase at a weighted average of $1.322 is a limited-volume transaction relative to the CEO's total disclosed holdings (direct plus indirect). The disclosure clarifies the purchase price range and offers detailed reporting upon request, meeting SEC Form 4 transparency expectations. There are no derivative transactions or other securities changes reported. From a market-impact perspective, this filing is unlikely to move valuation metrics but is relevant for monitoring insider buying patterns.

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

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

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)
09/29/2025

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	09/29/2025		P		3,700	A	$1.322(1)	377,874	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 $1.31 to $1.33, 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	09/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did William O'Dowd IV report for Dolphin Entertainment (DLPN)?

He reported an open-market purchase of 3,700 shares of Common Stock on 09/29/2025 at a weighted average price of $1.322 per share.

How many shares does the CEO directly and indirectly own after the Form 4 filing?

The filing reports 377,874 shares owned directly, plus indirect holdings of 54,535 shares via Dolphin Entertainment, LLC and 62,106 shares via Dolphin Digital Media Holdings, LLC.

What price range did the CEO pay for the DLPN shares purchased on 09/29/2025?

The reported purchases were executed at prices ranging from $1.31 to $1.33, with a weighted average of $1.322.

Does the Form 4 show any derivative transactions by the reporting person?

No. Table II for derivative securities contains no reported transactions; only non-derivative Common Stock purchases are disclosed.

Are the indirect holdings held through entities owned by William O'Dowd IV?

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