Live Nation Entertainment (NYSE: LYV) CFO reports major option exercise

Q: How many LYV shares did the CFO sell or have withheld in this Form 4?

On 12/15/2025, 81,141 shares were withheld to satisfy the stock option exercise price and tax withholdings at $141.66 per share, and 53,740 shares of common stock were disposed of at $141.66 per share.

Q: How many Live Nation (LYV) shares does the CFO own after the reported transactions?

After the 12/15/2025 transactions, Joe Berchtold beneficially owns 967,035 shares of Live Nation Entertainment common stock directly, as shown in Table I.

Q: Why did the Live Nation (LYV) CFO exercise stock options in December 2025?

The filing states that the options were granted in 2016 and would have expired in February 2026 , and 12/15/2025 was the issuer's final open trading window for insiders before the scheduled expiration, so another opportunity to exercise before expiration would not have been available.

Q: What is the CFO's overall Live Nation (LYV) equity position after these transactions?

The explanation notes that, following these transactions, the reporting person holds approximately 1.1 million shares of the issuer's common stock and equity awards , consisting of common stock and restricted stock holdings, and also holds options to acquire additional shares of common stock.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Live Nation Entertainment's President & CFO, Joe Berchtold, reported multiple stock transactions on 12/15/2025. He exercised stock options for 134,881 shares of common stock at an exercise price of $19.36 per share. To cover the stock option exercise price and tax withholdings, 81,141 of the resulting shares were withheld at a price of $141.66 per share. He also disposed of 53,740 shares of common stock in a separate transaction at $141.66 per share on the same day.

After these transactions, Berchtold beneficially owned 967,035 shares of Live Nation common stock directly. The options exercised were granted in 2016 and would have expired in February 2026, and 12/15/2025 was the issuer's final open trading window before that expiration. Following these transactions, he holds approximately 1.1 million shares of common stock and equity awards, along with options to acquire additional shares of common stock.

Insider Trade Summary

134,881 shares exercised/converted

Mixed 4 txns

Insider Berchtold Joe

Role President & CFO

Type	Security	Shares	Price	Value
Exercise	Stock Option (buy)	134,881	$0.00	--
Exercise	Common Stock	134,881	$19.36	$2.61M
Tax Withholding	Common Stock	81,141	$141.66	$11.49M
Disposition	Common Stock	53,740	$141.66	$7.61M

Holdings After Transaction: Stock Option (buy) — 0 shares (Direct); Common Stock — 1,101,916 shares (Direct)

Footnotes (1)

These shares underlying the stock options reflected in Table II were withheld to satisfy payment of the stock option exercise price and tax withholdings. The Reporting Person exercised stock options granted in 2016 that would otherwise have expired in February 2026 if not exercised during the Issuer's final open trading window for insiders (the "window") prior to such scheduled expiration of the 10-year term of the stock options. The window closed at the conclusion of the date on which these transactions were effectuated and will not reopen, and thus the Reporting Person would not have another opportunity to exercise the stock options, prior to the scheduled expiration of the stock options in February 2026. Following these transactions, the Reporting Person holds approximately 1.1 million shares of the Issuer's common stock and equity awards, consisting of both common stock and restricted stock holdings (as reflected in Table I above), and options to acquire additional shares of common stock.

Form 4 Insider Transactions: What Each Field Means →

12/17/2025 - 04:22 PM

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).

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^*

Berchtold Joe

(Last)

(First)

(Middle)

C/O LIVE NATION ENTERTAINMENT, INC.

9348 CIVIC CENTER DRIVE

(Street)

BEVERLY HILLS

90210

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Live Nation Entertainment, Inc. [ LYV ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President & CFO

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/15/2025		M		134,881	A	$19.36	1,101,916	D
Common Stock	12/15/2025		F		81,141⁽¹⁾	D	$141.66	1,020,775	D
Common Stock	12/15/2025		D		53,740	D	$141.66	967,035	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (buy)	$19.36	12/15/2025		M			134,881	⁽²⁾	02/09/2026	Common Stock	134,881	$0	0	D

Explanation of Responses:

1. These shares underlying the stock options reflected in Table II were withheld to satisfy payment of the stock option exercise price and tax withholdings.

2. The Reporting Person exercised stock options granted in 2016 that would otherwise have expired in February 2026 if not exercised during the Issuer's final open trading window for insiders (the "window") prior to such scheduled expiration of the 10-year term of the stock options. The window closed at the conclusion of the date on which these transactions were effectuated and will not reopen, and thus the Reporting Person would not have another opportunity to exercise the stock options, prior to the scheduled expiration of the stock options in February 2026. Following these transactions, the Reporting Person holds approximately 1.1 million shares of the Issuer's common stock and equity awards, consisting of both common stock and restricted stock holdings (as reflected in Table I above), and options to acquire additional shares of common stock.

Remarks:

	Brian Capo, Attorney-in-Fact for Joe Berchtold	12/17/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Live Nation (LYV) report for its President & CFO?

Joe Berchtold, Live Nation Entertainment's President & CFO, exercised stock options for 134,881 shares of common stock on 12/15/2025 at an exercise price of $19.36 per share. He then had shares withheld and sold additional shares of common stock on the same date.

How many LYV shares did the CFO sell or have withheld in this Form 4?

On 12/15/2025, 81,141 shares were withheld to satisfy the stock option exercise price and tax withholdings at $141.66 per share, and 53,740 shares of common stock were disposed of at $141.66 per share.

How many Live Nation (LYV) shares does the CFO own after the reported transactions?

After the 12/15/2025 transactions, Joe Berchtold beneficially owns 967,035 shares of Live Nation Entertainment common stock directly, as shown in Table I.

Why did the Live Nation (LYV) CFO exercise stock options in December 2025?

The filing states that the options were granted in 2016 and would have expired in February 2026, and 12/15/2025 was the issuer's final open trading window for insiders before the scheduled expiration, so another opportunity to exercise before expiration would not have been available.

What happened to the stock options after the Live Nation (LYV) CFO exercised them?

After exercising the stock options for 134,881 shares at $19.36 per share, the number of those derivative securities beneficially owned became 0, as reflected in Table II, while the underlying common shares flowed into his holdings and related withholdings and dispositions.

What is the CFO's overall Live Nation (LYV) equity position after these transactions?

The explanation notes that, following these transactions, the reporting person holds approximately 1.1 million shares of the issuer's common stock and equity awards, consisting of common stock and restricted stock holdings, and also holds options to acquire additional shares of common stock.