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FORM 4
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OMB APPROVAL
[ ] Check this box if no longer subject -------------------------------
to Section 16. Form 4 or Form 5 OMB Number: 3235-0287
obligations may continue. See Expires: September 30, 1998
Instruction 1(b). Estimated average burden
hours per response..........0.5
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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,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Sillerman Robert F.X.
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(Last) (First) (Middle)
650 Madison Avenue, 16th Floor
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(Street)
New York New York 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
SFX Entertainment, Inc. (SFXE)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
9/98
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Executive Chairman
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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5. Amount of 6. Owner-
Securities ship
2. Trans- 3. Trans- 4. Securities Acquired (A) Beneficially Form:
action action or Disposed of (D) Owned at Direct 7. Nature of
Date Code (Instr. 3, 4 and 5) End of (D) or Indirect
1. Title of Security (Month/ (Instr. 8) -------------------------- Month Indirect Beneficial
(Instr. 3) Day/ ---------- Amount (A) or Price (Instr. (I) Ownership
Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Class A Common Stock 4/27/98 J(1) V 1,882,272 A -0- D
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Class A Common Stock 9/25/98 P 236,786 A $28.0625 2,119,058 D
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Class A Common Stock 4/27/98 J(1) V 39,343 A -0- 39,343 I By Sillerman
Communications
Management
Corporation
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Class B Common Stock 01/15/98 A(2) V 500,000 A $2.00 D
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Class B Common Stock 4/27/98 J(1) V 1,024,168 A -0- 1,524,168 D
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(1) Shares issued to the stockholders of SFX Broadcasting, Inc. ("Broadcasting") pursuant to the spin-off of SFX Entertainment,
Inc. from Broadcasting and to optionholders of Broadcasting in respect of their options.
(2) In connection with entering into his employment agreement, SFX Entertainment, Inc. sold 500,000 shares of Class B Common
Stock to Mr. Sillerman at a purchase price of $2.00 per share.
</TABLE>
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FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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Title and Ownership
Number of Date Exer- Amount of Form of
Derivative cisable and Underlying Number of Deriv-
Securities Expiration Securities Price Derivative ative
Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security:
sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct
Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of
Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect
Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial
Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Employee $5.50 01/15/98 A V 120,000 (3) 01/15/08 Class A 120,000 D
Stock Common
Option Stock
(Right
to Buy)
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Employee $29.125 04/27/98 A V 250,000 (4) 04/27/08 Class A 250,000 D
Stock Common
Option Stock
(Right
to Buy)
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Employee $43.25 05/27/98 A V 250,000 (4) 05/27/08 Class A 250,000 D
Stock Common
Option Stock
(Right
to Buy)
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</TABLE>
Explanation of Responses:
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(3) These options vest in three equal annual installments, beginning on the
first anniversary of the date of grant.
(4) These options vest in five equal annual installments, beginning on the
first anniversary of the date of grant.
/s/ Robert F.X. Sillerman 10/13/98
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** Signature of Reporting Person Date
** 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 provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
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