LYV Form 4: John Hopmans receives 39,005 restricted shares; 9,904 withheld
Rhea-AI Filing Summary
John Hopmans, EVP, M&A and Strategic Finance at Live Nation Entertainment (LYV), had 39,005 performance shares convert into restricted common stock on 08/06/2025 after a stock price target was met. Fifty percent of those shares vested on the attainment date; the remaining 50% vest in scheduled increments of 20%, 20% and 10% on the first, second and third anniversaries of the attainment date (with final vesting no later than December 31, 2028), subject to continued employment.
Of the shares issued, 9,904 were withheld for tax withholding at a price of $149.29 per share, leaving the reporting person with 212,486 shares beneficially owned following the reported transactions. The Form 4 was filed by one reporting person and documents these awards and withholdings.
Positive
- Performance target attained, triggering conversion of 39,005 performance shares into restricted common stock
- Clear vesting schedule disclosed: 50% vested on attainment, remaining 20%/20%/10% over three anniversaries (or by 12/31/2028)
- Detailed tax withholding reported (9,904 shares withheld at $149.29), showing administrative transparency
Negative
- Tax withholding reduced net issuance by 9,904 shares, lowering immediate incremental ownership
- Future vesting is conditional on continued employment, so a portion of the converted shares remains subject to forfeiture if employment ends
- Filing does not disclose the broader dilutive impact or the size of the award relative to outstanding shares
Insights
TL;DR: A performance target was met, converting 39,005 awards; 9,904 shares withheld for taxes, leaving 212,486 shares beneficially owned.
The filing documents the conversion of performance share awards into restricted stock following attainment of a stock-price-based performance target. The conversion generated 39,005 shares, of which 50% vested immediately and the balance vests over the next three years subject to continued employment. Tax withholding reduced the net issuance by 9,904 shares at $149.29 per share. For investors, this is a routine executive compensation vesting event confirming a performance milestone was achieved, but the filing itself does not provide information on total dilution, company financials, or material impact on market capitalization.
TL;DR: Vesting terms are explicit and time‑based after attainment; remaining shares subject to employment condition and final 2028 catch‑up provision.
The disclosure clearly describes the award mechanics: performance shares convert upon meeting specified stock-price targets over a multi-year performance period, settlement occurred for 39,005 shares, and the issued restricted stock follows a 50%/20%/20%/10% vesting schedule with a backstop vesting date of December 31, 2028. The report also shows routine tax withholding of 9,904 shares. From a governance perspective, the filing provides transparent vesting conditions and demonstrates administration of tax withholding; it does not, however, include board deliberations or changes to plan terms.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Award | 39,005 | $0.00 | -- |
| Exercise | Common Stock | 39,005 | $0.00 | -- |
| Tax Withholding | Common Stock | 9,904 | $149.29 | $1.48M |
Footnotes (1)
- Reporting person received this restricted stock award under the Live Nation Entertainment, Inc. 2005 Stock Incentive Plan, as amended and restated as of March 21, 2024, in connection with the vesting of a portion of a previously-issued performance share award upon the attainment of a stock price target, as further set forth in footnotes 3-5 below. 50% of these shares vested on August 6, 2025. The remaining shares will vest 20% on August 6, 2026, 20% on August 6, 2027 and 10% on August 6, 2028, as explained in footnote 5 below. Represents shares withheld for tax purposes upon vesting of restricted stock grants. Each performance share award represents the right to receive a share restricted stock upon attainment by Issuer, from time to time, of stock price targets (based on the closing price of Issuer's common stock on the NYSE) over sixty days (which days to not have to be consecutive; the "Performance Targets") during a performance period beginning on January 1, 2024 and ending on December 31, 2028. Settlement will occur, and shares of restricted stock will be issued, if and when a particular Performance Target is met. The attainment of a stock price target resulted in the vesting and conversion of 39,005 performance shares into an equal number of shares of restricted stock reflected in Table 1. The shares of restricted stock issued in respect of performance share awards upon attainment of a particular Performance Target will vest, and the restrictions thereon will lapse, as follows: (i) 50% will vest on the date of attainment of the corresponding Performance Target, (ii) 20% will vest on the first anniversary of such attainment date, (iii) 20% will vest on the second anniversary of such attainment date, and (iv) the remaining 10% will vest on the third anniversary of such attainment date (to the extent such anniversary occurs before December 31, 2028). To the extent any earned Performance Target share awards remain unvested as of December 31, 2028, such shares will vest on December 31, 2028. Vesting of performance share awards and shares of restricted stock issued in respect thereof is subject to the reporting person's continued employment with Issuer through the applicable vesting date.
