[Form 4] Mediaco Holding Inc. Insider Trading Activity
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC reports that on 09/05/2025 SLF LBI Aggregator, LLC exercised a warrant to purchase 28,206,152 shares of Class A common stock at an exercise price of $0.00001 per share, paid on a cashless basis so the issuer withheld 214 shares to cover the exercise price. After the transaction, the reporting group is shown as beneficially owning 35,257,690 Class A shares. The filing notes that HPS Group GP, LLC and Scott Kapnick are related parties to the aggregator and that each disclaims beneficial ownership except to the extent of pecuniary interest.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC comunica che il 05/09/2025 SLF LBI Aggregator, LLC ha esercitato un warrant per acquistare 28.206.152 azioni di Classe A al prezzo di esercizio di $0,00001 per azione, con regolamento senza esborso di cassa; pertanto l'emittente ha trattenuto 214 azioni per coprire il prezzo di esercizio. Dopo la transazione, il gruppo dichiarato risulta beneficiare di 35.257.690 azioni di Classe A. Nel deposito si specifica che HPS Group GP, LLC e Scott Kapnick sono parti correlate dell'aggregator e che ciascuno rinuncia alla propriet脿 beneficiaria se non nella misura dell'interesse pecuniario.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC informa que el 05/09/2025 SLF LBI Aggregator, LLC ejerci贸 un warrant para adquirir 28.206.152 acciones Clase A a un precio de ejercicio de $0,00001 por acci贸n, pagado en efectivo neto (cashless); por ello, el emisor retuvo 214 acciones para cubrir el precio de ejercicio. Tras la operaci贸n, el grupo informante figura como propietario beneficiario de 35.257.690 acciones Clase A. La presentaci贸n indica que HPS Group GP, LLC y Scott Kapnick son partes relacionadas con el agregador y que cada uno renuncia a la propiedad beneficiaria salvo en la medida de su inter茅s pecuniario.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC電� 2025雲� 9鞗� 5鞚� SLF LBI Aggregator, LLC臧� 鞗岆煱韸鸽ゼ 頄夓偓頃橃棳 韥措灅鞀� A 氤错喌欤� 28,206,152欤茧ゼ 欤茧嫻 頄夓偓臧� $0.00001鞐� 旆摑頄堨溂氅�, 順勱笀 雽�鞁� 欤检嫕鞙茧 鞝曥偘霅橃柎 氚滍枆靷姅 頄夓偓臧�毳� 於╇嫻頃橁赴 鞙勴暣 214欤茧ゼ 鞗愳矞歆曥垬頄堧嫟瓿� 氤搓碃頄堨姷雼堧嫟. 瓯半灅 頉� 鞁犼碃 攴鸽９鞚� 韥措灅鞀� A 欤检嫕 35,257,690欤检棎 雽�頃� 鞁れ鞝� 靻岇湢甓岇潉 氤挫湢頃� 瓴冹溂搿� 雮橅儉雮姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 HPS Group GP, LLC鞕� Scott Kapnick鞚� 頃措嫻 鞎犼犯毽矊鞚错劙鞚� 甏�霠� 雼轨偓鞛愳澊氅�, 臧侅瀽電� 旮堨爠鞝� 鞚挫澋鞚� 氩旍渼 雮挫棎靹滊 鞁れ鞝� 靻岇湢甓岇潉 欤检灔頃滊嫟瓿� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Mediaco Holding Inc. (MDIA) : BlackRock Portfolio Management LLC rapporte que le 05/09/2025 SLF LBI Aggregator, LLC a exerc茅 un warrant pour acheter 28鈥�206鈥�152 actions de classe A au prix d'exercice de 0,00001 $ par action, r茅gl茅 sans versement en esp猫ces (cashless) ; l'茅metteur a donc retenu 214 actions pour couvrir le prix d'exercice. Apr猫s la transaction, le groupe d茅clarant d茅tient b茅n茅ficiairement 35鈥�257鈥�690 actions de classe A. Le d茅p么t pr茅cise que HPS Group GP, LLC et Scott Kapnick sont des parties li茅es 脿 l'aggregator et que chacun d茅cline la qualit茅 de propri茅taire b茅n茅ficiaire sauf dans la mesure de son int茅r锚t p茅cuniaire.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC berichtet, dass am 05.09.2025 SLF LBI Aggregator, LLC eine Warrant ausge眉bt hat, um 28.206.152 Class-A-Aktien zum Aus眉bungspreis von $0,00001 je Aktie zu erwerben. Die Aus眉bung erfolgte cashless, weshalb der Emittent 214 Aktien einbehielt, um den Aus眉bungspreis zu decken. Nach der Transaktion h盲lt die meldende Gruppe wirtschaftlich 35.257.690 Class-A-Aktien. Die Meldung weist darauf hin, dass HPS Group GP, LLC und Scott Kapnick als verbundene Parteien des Aggregators gelten und jeder eine wirtschaftliche Eigent眉merschaft nur insoweit bestreitet, wie sie sein pecuni盲res Interesse betrifft.
- Timely disclosure of a material insider transaction showing transparency in insider reporting
- Large warrant exercise documented, clarifying the mechanism (cashless exercise) and resulting share count
- Significant issuance of 28,206,152 Class A shares may dilute existing holders' percentages
- Complex ownership structure with multiple entities disclaiming beneficial ownership makes control and economic exposure harder to interpret
Insights
TL;DR: Large warrant exercise increased outstanding Class A shares; disclosure clarifies complex ownership links but limits direct beneficial claims.
The Form 4 documents a substantial warrant exercise converting 28.2 million warrants into common shares at a nominal per-share price, with only 214 shares withheld for cashless payment. For investors, the key takeaways are the scale of newly issued shares and the reporting structure: BlackRock Portfolio Management LLC is reporting on behalf of internal business units while disclaiming direct beneficial ownership beyond pecuniary interest. The transaction itself is financing-neutral for the issuer given the cashless exercise, but materially increases the pool of Class A shares recorded as beneficially owned by the reporting group.
TL;DR: Governance note: several entities are interlinked, and the filing clearly disclaims full beneficial ownership despite the large exercised position.
The filing underscores layered ownership and management relationships: an aggregator exercised the warrant, HPS Group GP, LLC is the non-member manager, and Scott Kapnick is the sole member, while BlackRock reports on behalf of business units. The explicit disclaimers limit attribution of beneficial ownership, which is important for assessing control and voting influence. The report provides necessary transparency but also signals that control and economic exposure are split among multiple parties.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC comunica che il 05/09/2025 SLF LBI Aggregator, LLC ha esercitato un warrant per acquistare 28.206.152 azioni di Classe A al prezzo di esercizio di $0,00001 per azione, con regolamento senza esborso di cassa; pertanto l'emittente ha trattenuto 214 azioni per coprire il prezzo di esercizio. Dopo la transazione, il gruppo dichiarato risulta beneficiare di 35.257.690 azioni di Classe A. Nel deposito si specifica che HPS Group GP, LLC e Scott Kapnick sono parti correlate dell'aggregator e che ciascuno rinuncia alla propriet脿 beneficiaria se non nella misura dell'interesse pecuniario.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC informa que el 05/09/2025 SLF LBI Aggregator, LLC ejerci贸 un warrant para adquirir 28.206.152 acciones Clase A a un precio de ejercicio de $0,00001 por acci贸n, pagado en efectivo neto (cashless); por ello, el emisor retuvo 214 acciones para cubrir el precio de ejercicio. Tras la operaci贸n, el grupo informante figura como propietario beneficiario de 35.257.690 acciones Clase A. La presentaci贸n indica que HPS Group GP, LLC y Scott Kapnick son partes relacionadas con el agregador y que cada uno renuncia a la propiedad beneficiaria salvo en la medida de su inter茅s pecuniario.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC電� 2025雲� 9鞗� 5鞚� SLF LBI Aggregator, LLC臧� 鞗岆煱韸鸽ゼ 頄夓偓頃橃棳 韥措灅鞀� A 氤错喌欤� 28,206,152欤茧ゼ 欤茧嫻 頄夓偓臧� $0.00001鞐� 旆摑頄堨溂氅�, 順勱笀 雽�鞁� 欤检嫕鞙茧 鞝曥偘霅橃柎 氚滍枆靷姅 頄夓偓臧�毳� 於╇嫻頃橁赴 鞙勴暣 214欤茧ゼ 鞗愳矞歆曥垬頄堧嫟瓿� 氤搓碃頄堨姷雼堧嫟. 瓯半灅 頉� 鞁犼碃 攴鸽９鞚� 韥措灅鞀� A 欤检嫕 35,257,690欤检棎 雽�頃� 鞁れ鞝� 靻岇湢甓岇潉 氤挫湢頃� 瓴冹溂搿� 雮橅儉雮姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 HPS Group GP, LLC鞕� Scott Kapnick鞚� 頃措嫻 鞎犼犯毽矊鞚错劙鞚� 甏�霠� 雼轨偓鞛愳澊氅�, 臧侅瀽電� 旮堨爠鞝� 鞚挫澋鞚� 氩旍渼 雮挫棎靹滊 鞁れ鞝� 靻岇湢甓岇潉 欤检灔頃滊嫟瓿� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Mediaco Holding Inc. (MDIA) : BlackRock Portfolio Management LLC rapporte que le 05/09/2025 SLF LBI Aggregator, LLC a exerc茅 un warrant pour acheter 28鈥�206鈥�152 actions de classe A au prix d'exercice de 0,00001 $ par action, r茅gl茅 sans versement en esp猫ces (cashless) ; l'茅metteur a donc retenu 214 actions pour couvrir le prix d'exercice. Apr猫s la transaction, le groupe d茅clarant d茅tient b茅n茅ficiairement 35鈥�257鈥�690 actions de classe A. Le d茅p么t pr茅cise que HPS Group GP, LLC et Scott Kapnick sont des parties li茅es 脿 l'aggregator et que chacun d茅cline la qualit茅 de propri茅taire b茅n茅ficiaire sauf dans la mesure de son int茅r锚t p茅cuniaire.
Mediaco Holding Inc. (MDIA): BlackRock Portfolio Management LLC berichtet, dass am 05.09.2025 SLF LBI Aggregator, LLC eine Warrant ausge眉bt hat, um 28.206.152 Class-A-Aktien zum Aus眉bungspreis von $0,00001 je Aktie zu erwerben. Die Aus眉bung erfolgte cashless, weshalb der Emittent 214 Aktien einbehielt, um den Aus眉bungspreis zu decken. Nach der Transaktion h盲lt die meldende Gruppe wirtschaftlich 35.257.690 Class-A-Aktien. Die Meldung weist darauf hin, dass HPS Group GP, LLC und Scott Kapnick als verbundene Parteien des Aggregators gelten und jeder eine wirtschaftliche Eigent眉merschaft nur insoweit bestreitet, wie sie sein pecuni盲res Interesse betrifft.
FAQ
What transaction did the Form 4 for MDIA disclose?
At what price were the MDIA warrants exercised?
How many MDIA Class A shares does the reporting group own after the transaction?
Who are the parties involved in the MDIA transaction?
Does BlackRock claim direct beneficial ownership of the MDIA shares?
