Liberty Media Corp - May 28, 2025 Form 4 Insider Report for Live Nation Entertainment, Inc. (LYV)

Role: Director, 10%+ Owner
Signature: Liberty Media Corporation By: /s/ Brittany A. Uthoff Name: Brittany A. Uthoff Title: Vice President and Assistant Secretary
Stock symbol: LYV
Transactions as of: May 28, 2025
Transactions value $: $0
Form type: 4
Date filed: 5/30/2025, 05:22 PM
Previous filing: Sep 9, 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Liberty Media Corp	Director, 10%+ Owner	12300 LIBERTY BOULEVARD, ENGLEWOOD	Liberty Media Corporation By: /s/ Brittany A. Uthoff Name: Brittany A. Uthoff Title: Vice President and Assistant Secretary	2025-05-30	0001560385

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LYV	Forward sale contract (obligation to sell)	Other		+10.5M			10.5M	May 28, 2025	Common Stock	10.5M		Held through Wholly- Owned Subsidiary	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 28, 2025, LN Holdings 1, LLC, an indirect wholly owned subsidiary of the Reporting Person ("Counterparty"), entered into agreements establishing the terms and conditions of variable forward transactions (the "Forward Contracts") with four unaffiliated third party buyers (the "Buyers"). On May 28, 2025, the aggregate number of shares of common stock of the Issuer subject to the Forward Contracts was set at 10,488,960 (the "Number of Shares") and the initial share price was set at $137.4500, pursuant to the terms of the Forward Contracts, as further described in the Remarks section.

Content

On May 28, 2025, LN Holdings 1, LLC, an indirect wholly owned subsidiary of the Reporting Person ("Counterparty"), entered into agreements establishing the terms and conditions of variable forward transactions (the "Forward Contracts") with four unaffiliated third party buyers (the "Buyers"). On May 28, 2025, the aggregate number of shares of common stock of the Issuer subject to the Forward Contracts was set at 10,488,960 (the "Number of Shares") and the initial share price was set at $137.4500, pursuant to the terms of the Forward Contracts, as further described in the Remarks section.

Remarks:

The Forward Contracts obligate Counterparty to deliver to the Buyers, in the aggregate, up to the Number of Shares over a specified period ending in the first quarter of 2027 (the "Valuation Period"). Alternatively, Counterparty may choose to deliver an equivalent amount of cash based on a measure of the average share price over the Valuation Period. In exchange for assuming this obligation, Counterparty is entitled to elect to receive prepayment amounts of up to the present value at such time or times of approximately $1.15 billion, in the aggregate. Counterparty has agreed to pledge a number of shares of common stock of the Issuer equal to the Number of Shares (the "Pledge Shares") to secure its obligations under the Forward Contracts, and will retain voting rights in the Pledge Shares during the term of the pledge. If Counterparty elects to receive prepayment amounts and elects share settlement, Counterparty will be obligated to deliver fewer than the Number of Shares if (and to the extent that) on trading days during the Valuation Period the average per share price is above $109.9600. As noted above, alternatively Counterparty may choose to deliver a cash amount in lieu of such shares.