Tempus AI

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-08-25 10b5-1 Pre-arranged Plan: Yes --- Issuer --- Name: Tempus AI, Inc. (TEM) CIK: 0001717115 --- Reporting Owner --- Name: LEFKOFSKY ERIC P CIK: 0001114357 Role: Director, Officer (CEO and Chairman), 10%+ Owner --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -760 | Price: $64.03 Total Value: $48,662.80 Shares Owned After: 8,717,023 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F2] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.6575 to $64.28 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #2] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -2,168 | Price: $64.70 Total Value: $140,269.60 Shares Owned After: 8,714,855 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F4] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.4121 to $65.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #3] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -3,944 | Price: $65.98 Total Value: $260,225.12 Shares Owned After: 8,710,911 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F5] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.43 to $66.4092 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #4] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -4,218 | Price: $67.01 Total Value: $282,648.18 Shares Owned After: 8,706,693 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F6] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.43 to $67.42 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #5] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -10,282 | Price: $68.13 Total Value: $700,512.66 Shares Owned After: 8,696,411 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F7] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.44 to $68.4361 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #6] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -22,495 | Price: $68.97 Total Value: $1,551,480.15 Shares Owned After: 8,673,916 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F8] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.44 to $69.4374 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #7] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -12,851 | Price: $69.83 Total Value: $897,385.33 Shares Owned After: 8,661,065 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F9] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.44 to $70.4357 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #8] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -782 | Price: $70.58 Total Value: $55,193.56 Shares Owned After: 8,660,283 | Ownership: I (Indirect) | Nature: By Gray Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F10] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.4472 to $70.71 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #9] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -1,789 | Price: $64.03 Total Value: $114,549.67 Shares Owned After: 15,253,680 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F2] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.6575 to $64.28 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #10] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -5,093 | Price: $64.70 Total Value: $329,517.10 Shares Owned After: 15,248,587 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F4] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.4121 to $65.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #11] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -9,262 | Price: $65.98 Total Value: $611,106.76 Shares Owned After: 15,239,325 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F5] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.43 to $66.4092 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #12] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -9,935 | Price: $67.01 Total Value: $665,744.35 Shares Owned After: 15,229,390 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F6] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.43 to $67.42 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #13] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -24,161 | Price: $68.13 Total Value: $1,646,088.93 Shares Owned After: 15,205,229 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F7] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.44 to $68.4361 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #14] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -52,784 | Price: $68.97 Total Value: $3,640,512.48 Shares Owned After: 15,152,445 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F8] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.44 to $69.4374 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #15] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -30,139 | Price: $69.83 Total Value: $2,104,606.37 Shares Owned After: 15,122,306 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F9] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.44 to $70.4357 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #16] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -1,837 | Price: $70.58 Total Value: $129,655.46 Shares Owned After: 15,120,469 | Ownership: I (Indirect) | Nature: By Blue Media, LLC Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F10] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.4472 to $70.71 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #17] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -101 | Price: $64.03 Total Value: $6,467.03 Shares Owned After: 824,530 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F2] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.6575 to $64.28 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #18] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -284 | Price: $64.70 Total Value: $18,374.80 Shares Owned After: 824,246 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F4] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.4121 to $65.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #19] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -515 | Price: $65.98 Total Value: $33,979.70 Shares Owned After: 823,731 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F5] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.43 to $66.4092 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #20] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -578 | Price: $67.01 Total Value: $38,731.78 Shares Owned After: 823,153 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F6] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.43 to $67.42 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #21] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -1,365 | Price: $68.13 Total Value: $92,997.45 Shares Owned After: 821,788 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F7] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.44 to $68.4361 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #22] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -2,887 | Price: $68.96 Total Value: $199,087.52 Shares Owned After: 818,901 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F8] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.44 to $69.4374 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #23] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -1,668 | Price: $69.83 Total Value: $116,476.44 Shares Owned After: 817,233 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F9] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.44 to $70.4357 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #24] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -102 | Price: $70.58 Total Value: $7,199.16 Shares Owned After: 817,131 | Ownership: I (Indirect) | Nature: By Lefkofsky Family Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F10] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.4472 to $70.71 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #25] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -660 | Price: $64.03 Total Value: $42,259.80 Shares Owned After: 199,340 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F2] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.6575 to $64.28 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #26] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -1,883 | Price: $64.70 Total Value: $121,830.10 Shares Owned After: 197,457 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F4] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.4121 to $65.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #27] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -3,429 | Price: $65.98 Total Value: $226,245.42 Shares Owned After: 194,028 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F5] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.43 to $66.4092 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #28] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -3,649 | Price: $67.01 Total Value: $244,519.49 Shares Owned After: 190,379 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F6] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.43 to $67.42 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #29] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -8,926 | Price: $68.13 Total Value: $608,128.38 Shares Owned After: 181,453 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F7] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.44 to $68.4361 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. [Transaction #30] Security: Class A Common Stock Date: 2026-08-25 | Code: S (Open market sale) Shares: -19,605 | Price: $68.97 Total Value: $1,352,156.85 Shares Owned After: 161,848 | Ownership: I (Indirect) | Nature: By Vas.org Foundation Footnotes: [F1] This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. [F8] The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.44 to $69.4374 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. [F3] The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. --- Footnotes (Complete Index) --- F1: This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 8, 2026. F10: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.4472 to $70.71 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F2: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.6575 to $64.28 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F3: The Reporting Person is (i) a member of, and controls a limited liability company that is a member of, 346 Long LLC, (ii) the sole manager of each of Black Media, LLC, Blue Media, LLC and Gray Media, LLC, (iii) a trustee of each of Lefkofsky Family Foundation and Vas.org Foundation. The Reporting Person's spouse is the trustee of the Lefkofsky Family 2025 GRAT and Lefkofsky Family 2026 GRAT. F4: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.4121 to $65.39 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F5: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.43 to $66.4092 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F6: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.43 to $67.42 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F7: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.44 to $68.4361 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F8: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.44 to $69.4374 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F9: The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.44 to $70.4357 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. --- Signature --- /s/ /s/ Andrew Polovin, Attorney-in-Fact (2026-08-27)