StubHub (STUB) officer converts Series M preferred into 5,504 Class A common shares

Rhea-AI Filing Summary

StubHub Holdings, Inc. officer Islam Nayaab converted preferred stock into common shares. On March 17, 100 shares of Series M Redeemable Preferred Stock were automatically converted into 5,504 shares of Class A Common Stock pursuant to the issuer’s Certificate of Designation. Following this derivative conversion, Nayaab directly holds 8,109,973 shares of Class A Common Stock and no remaining Series M preferred shares, reflecting a change in the form of his equity, not an open‑market trade.

Insights

Equity compensation analyst

Routine preferred-to-common conversion increases direct common holdings without market buying or selling.

This filing shows Islam Nayaab converting 100 shares of Series M redeemable preferred stock into 5,504 Class A common shares. The transaction is recorded at a conversion price of $0.0000, indicating an internal capital structure event rather than a cash purchase.

After the conversion, Nayaab’s direct holdings rise to 8,109,973 Class A common shares, while his Series M preferred position falls to zero. With no remaining derivative position reported and no open‑market sales or purchases, the economic impact is mainly a shift from preferred to common equity, a neutral development for outside investors.

Insider Trade Summary

100 shares exercised/converted

Mixed 2 txns

Insider Islam Nayaab

Role See Remarks

Type	Security	Shares	Price	Value
Conversion	Series M Redeemable Preferred Stock	100	$0.00	--
Conversion	Class A Common Stock	5,504	$0.00	--

Holdings After Transaction: Series M Redeemable Preferred Stock — 0 shares (Direct); Class A Common Stock — 8,109,973 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Islam Nayaab

(Last) (First) (Middle)

C/O STUBHUB HOLDINGS, INC.

175 GREENWICH STREET, 59TH FLOOR

(Street)

NEW YORK NEW YORK 10007

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
StubHub Holdings, Inc. [ STUB ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/17/2026		C		5,504	A	(1)	8,109,973	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series M Redeemable Preferred Stock	(1)	03/17/2026		C			100	(1)	(1)	Class A Common Stock	5,504	$0	0	D

Explanation of Responses:

1. Each share of Series M redeemable preferred stock automatically converted into shares of Class A common stock of the Issuer, pursuant to the terms as specified in the Issuer's Certificate of Designation.

Remarks:

President and Chief Product Officer

	/s/ Elizabeth Lynch, as Attorney-in-Fact for Nayaab Islam	03/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did StubHub (STUB) report for Islam Nayaab?

StubHub reported that officer Islam Nayaab converted 100 shares of Series M redeemable preferred stock into 5,504 shares of Class A common stock. This was a derivative conversion, not an open‑market buy or sell, and followed terms in the Certificate of Designation.

How many StubHub (STUB) common shares does Islam Nayaab hold after this Form 4?

After the conversion, Islam Nayaab directly holds 8,109,973 shares of StubHub Class A common stock. These shares reflect his post‑transaction equity position following the automatic conversion of Series M redeemable preferred stock into common shares on March 17.

Was the StubHub (STUB) insider transaction an open-market trade?

No, the transaction was not an open‑market trade. It was a derivative conversion where 100 Series M redeemable preferred shares automatically converted into 5,504 Class A common shares at $0.0000 per share, pursuant to StubHub’s Certificate of Designation terms.

What type of security did StubHub (STUB) convert into common stock for Islam Nayaab?

The company converted Series M Redeemable Preferred Stock into common stock. Specifically, 100 preferred shares automatically converted into 5,504 shares of Class A common stock, as specified in StubHub’s Certificate of Designation governing the Series M preferred stock terms.

Does Islam Nayaab still hold Series M Redeemable Preferred Stock of StubHub (STUB)?

After this transaction, Islam Nayaab holds no Series M redeemable preferred shares. The Form 4 shows his preferred holdings fell to zero, while his direct Class A common stock position increased to 8,109,973 shares following the automatic conversion.

How is the transaction in StubHub (STUB) Form 4 classified?

The transaction is classified as a conversion of derivative security with code “C”. It reflects an automatic conversion of 100 Series M redeemable preferred shares into 5,504 Class A common shares, increasing common holdings without recording any market purchase or sale activity.