Live Nation legal chief sells 63,776 shares
Live Nation Entertainment EVP & General Counsel Michael Rowles exercised stock options and sold shares of common stock.
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Form Type
4
Rhea-AI Filing Summary
Live Nation Entertainment EVP & General Counsel Michael Rowles exercised stock options and sold shares of common stock. On May 8, he exercised 63,776 stock options at a strike price of $29.03 per share and acquired the same number of common shares.
That day, he executed open-market sales totaling 63,776 common shares at weighted average prices ranging from about $163.07 to $166.47, according to the reported transaction prices and footnotes. The options were originally granted in March 2017 and were due to expire in March 2027 if not exercised.
Insider Trade Summary
Exercise and Sale: 63,776 shares ($8.62M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
Rowles Michael
Role
EVP & General Counsel
Sold
63,776 shs ($10.47M)
Approx. gross sale proceeds
$10.47M
Approx. exercise cost
$1.85M
Approx. pre-tax spread
$8.62M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (buy) | 63,776 | $0.00 | $0.00 |
| Exercise | Common Stock | 63,776 | $29.03 | $1.85M |
| Sale | Common Stock | 37,658 | $163.07 | $6.14M |
| Sale | Common Stock | 3,648 | $164.96 | $602K |
| Sale | Common Stock | 16,757 | $165.98 | $2.78M |
| Sale | Common Stock | 5,713 | $166.36 | $950K |
Holdings After Transaction:
Stock Option (buy) — 0 contracts (Direct);
Common Stock — 204,716 shares (Direct)
Footnotes (5)
- F1. This transaction was executed in multiple trades at prices ranging from $162.55 to $163.50. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F2. This transaction was executed in multiple trades at prices ranging from $164.16 to $165.12. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3. This transaction was executed in multiple trades at prices ranging from $165.27 to $166.26. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4. This transaction was executed in multiple trades at prices ranging from $166.27 to $166.47. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F5. The exercise of employee stock options by the reporting person that were granted approximately 9 years ago would expire in March 2027 if not exercised during an open trading window prior to such expiration. The reporting person received the stock options on March 16, 2017 under the Live Nation Entertainment, Inc. 2005 Stock Incentive Plan, as amended and restated as of March 19, 2015. The stock options vested in two equal annual installments on March 31, 2018 and March 31, 2019.
Key Figures
Shares sold: 63,776 shares
Sale prices: $163.07–$166.47 per share
Options exercised: 63,776 options
+3 more
6 metrics
Shares sold
63,776 shares
Open-market sales of Live Nation common stock on May 8
Sale prices
$163.07–$166.47 per share
Weighted average prices for reported share sales
Options exercised
63,776 options
Employee stock options converted into common stock on May 8
Option exercise price
$29.03 per share
Strike price of employee stock options granted March 16, 2017
Option expiration
March 2027
Expiration date if options were not exercised earlier
Vesting dates
March 31, 2018 & March 31, 2019
Two equal annual vesting installments for the option grant
Key Terms
open-market sale, derivative exercise/conversion, weighted average sale price, employee stock options, +1 more
5 terms
open-market sale financial
"transaction_action: "open-market sale" for common stock transactions"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative exercise/conversion financial
"transaction_action: "derivative exercise/conversion" for option exercise"
weighted average sale price financial
"The price reported reflects the weighted average sale price."
employee stock options financial
"The exercise of employee stock options by the reporting person"
Employee stock options are contracts that give workers the right to buy a company's shares at a set price sometime in the future, like a coupon that lets you purchase stock at today’s price later on. Investors care because they align employees’ incentives with company performance and create a potential future claim on shares that can reduce existing owners’ percentage and add to a company’s reported compensation costs.
Stock Incentive Plan financial
"under the Live Nation Entertainment, Inc. 2005 Stock Incentive Plan"
A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Live Nation (LYV) executive Michael Rowles do in this Form 4 filing?
Michael Rowles, EVP & General Counsel of Live Nation, reported exercising 63,776 stock options at $29.03 and selling 63,776 common shares in open-market trades on May 8. The filing details the share counts, prices and option history.
What stock options did Michael Rowles exercise in Live Nation (LYV)?
He exercised 63,776 employee stock options with a $29.03 exercise price. The options were granted on March 16, 2017 under Live Nation’s 2005 Stock Incentive Plan and vested in equal installments on March 31, 2018 and March 31, 2019.
Why were Michael Rowles’s Live Nation (LYV) options exercised now?
Footnotes explain the employee stock options, granted in March 2017, would expire in March 2027 if not exercised during an open trading window beforehand. Rowles exercised them on May 8 to avoid expiration while a trading window was available.
Does this Live Nation (LYV) Form 4 show any remaining options for Michael Rowles?
The filing shows an exercise of 63,776 stock options into common shares and indicates zero remaining shares for that specific option grant after the transaction. The derivative summary does not list other option positions in this particular filing excerpt.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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