[Form 4] Vivid Seats Inc. Warrant Insider Trading Activity

Rhea-AI Filing Summary

CryoPort, Inc. (CYRX) filed a Form 144 disclosing a proposed sale of 40,728 common shares—valued at $273,284.88—through Morgan Stanley Smith Barney on or about 22 Jul 2025. The shares were obtained the same day via a cash exercise of stock options.

The insider has already completed five open-market sales during the past three months, disposing of 29,655 shares for total proceeds of $167,467.67. Including the new notice, cumulative planned and completed sales reach 70,383 shares. CryoPort reports 50,137,218 shares outstanding, so the new sale equals roughly 0.08 % of shares outstanding.

Form 144 serves only as advance notice; the transaction may or may not occur depending on market conditions and the filer’s 10b5-1 plan. The filing contains no operating, earnings, or guidance information.

Insights

Financial Analyst

TL;DR – Minor insider sale; immaterial to float, modest negative sentiment.

The filing signals an additional 40.7 k-share sale by an executive who has already sold 29.7 k shares this quarter. While insider selling can raise eyebrows, the proposed sale equals just 0.08 % of CryoPort’s 50.1 mm shares outstanding and under 1 day of average trading volume for many small-cap names. No operational data accompany the notice, so the event is not financially material; however, persistent sales may pressure sentiment if the trend continues.

Corporate Governance Expert

TL;DR – Routine Rule 144 filing tied to option exercise; low governance concern.

The shares were acquired and sold under a same-day option exercise, suggesting liquidity rather than strategic exit. The filer attests to no undisclosed adverse information and references a 10b5-1 plan, aligning with best-practice trading safeguards. Absent larger volumes or pattern escalation, the filing appears routine and not impactful to governance risk assessments.

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).

1. Name and Address of Reporting Person^*

Chia Stanley

(Last) (First) (Middle)

C/O VIVID SEATS INC.

24 E. WASHINGTON ST., STE. 900

(Street)

CHICAGO IL 60602

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Vivid Seats Inc. [ SEAT ]

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)
07/19/2025

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
Class A Common Stock	07/19/2025		M		15,625	A	(1)	2,217,546	I	By trust(2)

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
Restricted Stock Units	(1)	07/19/2025		M			15,625	(3)	(3)	Class A Common Stock	15,625	$0	15,625	I	By trust(2)

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock.

2. Held by a trust, of which the reporting person is co-trustee, for the benefit of his immediate family members. The reporting person is the beneficial owner of the securities held by the trust.

3. The RSUs began vesting in 16 equal quarterly installments on January 19, 2022, such that they will be fully vested on October 19, 2025. The RSUs do not have an expiration date.

	/s/ Stanley Chia	07/22/2025
	** 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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