Form 4: Endeavor Group Holdings CEO Emanuel Ariel Reports Changes in Beneficial Ownership

CEO Emanuel Ariel reports transactions involving Endeavor Group Holdings' Class A, X, and Y Common Stock, including acquisitions, dispositions, and conversions related to Endeavor Operating Company Units.

Summary

• On October 8, 2024, Emanuel Ariel, CEO of Endeavor Group Holdings, reported changes in beneficial ownership.
• These changes involve transactions in Class A, Class X, and Class Y Common Stock.
• The transactions include the disposition of 48,176 shares of both Class X and Class Y Common Stock at $0, and the acquisition of 48,176 shares of Class A Common Stock at $0.
• Additionally, 48,176 shares of Class A Common Stock were sold at a weighted average price of $29.04, with prices ranging from $28.99 to $29.13.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on August 31, 2023.
• The transactions also involved the conversion of Endeavor Operating Company Units into Class A Common Stock.
• Following these transactions, Ariel directly owns 1,831,247 shares of Class A Common Stock and indirectly owns 27,498,450 shares of Class A, X, and Y Common Stock through Endeavor Executive Holdco, LLC, Endeavor Executive PIU Holdco, LLC and Endeavor Executive II Holdco, LLC.
• Ariel also indirectly owns 24,224,949 Endeavor Operating Company Units and directly owns 4,193,328 Endeavor Operating Company Units.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about stock transactions.

Industry Context

This filing is a routine disclosure related to insider trading activities, which are common in publicly traded companies. The use of a 10b5-1 trading plan suggests a pre-arranged strategy for managing equity positions.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives and major shareholders in publicly traded companies like Endeavor, similar to filings made by insiders at companies like Live Nation Entertainment and Madison Square Garden Entertainment.
• The use of a 10b5-1 trading plan is a common strategy employed by executives to avoid accusations of insider trading, aligning with practices seen at companies such as Disney and Comcast.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-arranged nature of the trading plan mitigates concerns about insider information being used for personal gain.

Key Dates