Form 4: Todd Boehly Converts Vivid Seats RSUs to Common Stock

Todd Boehly, a Director and 10% owner of Vivid Seats Inc., converted 245 Restricted Stock Units into Class A Common Stock on October 19, 2025, under a Rule 10b5-1 plan.

Summary

• Todd L. Boehly, a Director and 10% Owner of Vivid Seats Inc. (SEAT), reported a transaction on October 19, 2025.
• The transaction involved the conversion of 245 Restricted Stock Units (RSUs) into 245 shares of Class A Common Stock.
• This conversion was executed under a pre-arranged Rule 10b5-1(c) plan.
• Following the transaction, Mr. Boehly directly beneficially owns 4,831 shares of Class A Common Stock.
• The reported share numbers have been adjusted to reflect a 1-for-20 reverse stock split of the Issuer's Class A and Class B common stock, which was effective on August 5, 2025.
• Each RSU represents a contingent right to receive one share of Class A common stock.
• The RSUs began vesting in five equal annual installments on October 19, 2022, and will be fully vested on October 19, 2026.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it reflects a routine conversion of equity compensation by a key insider (Director and 10% owner) under a pre-arranged plan, indicating continued ownership and commitment. It is not highly impactful but generally viewed as a neutral to slightly positive signal.

Positives

• The conversion of Restricted Stock Units into common stock indicates continued ownership and alignment of interests between the insider and shareholders.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, suggesting a pre-planned, non-discretionary action.

Future Outlook

The Restricted Stock Units held by Todd Boehly are scheduled to be fully vested on October 19, 2026, indicating a future milestone for his equity compensation.

Industry Context

This Form 4 filing details a routine insider transaction related to equity compensation, which is common across publicly traded companies. It does not provide information on broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: The transaction increases direct ownership of Class A Common Stock by a significant insider, potentially aligning his interests more closely with other shareholders.

Next Steps

• The remaining Restricted Stock Units held by Todd Boehly will continue to vest, with full vesting expected by October 19, 2026.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction (conversion of RSUs to common stock under a 10b5-1 plan) and does not contain information significant enough to warrant a change in investment recommendation. It primarily confirms a pre-scheduled equity event for a director and 10% owner, which is generally neutral to slightly positive but lacks the fundamental or strategic insights needed for a 'buy' or 'sell' recommendation. Investors should 'hold' and look to broader financial reports for investment decisions.

Keywords

Vivid Seats, SEAT, Todd Boehly, Insider Transaction, Form 4, Restricted Stock Units, RSU Conversion, Class A Common Stock, 10b5-1 Plan, Director Ownership, 10% Owner