The shares are to be issued to “five individuals” as designated by U2’s company, Evergreen Concepts LLC. Bono and bandmates the Edge, Adam Clayton and Larry Mullen Jr. announced in March a 12-year deal with Live Nation that covers touring, merchandising, branding, fan club and Web site rights.

Of the five artists that have signed “360”-type with Live Nation, U2 is the only to retain its recording rights, and will remain with Universal Music Group.

Jay-Z and Madonna have also acquired sizeable chunks of LN as part of their agreements. However, U2 appears to have received the largest issuance, followed by Madonna with about 1.17 million and Jay-Z with about 775,000 shares. U2’s stake is roughly 2.1 percent of LN’s shares outstanding, according to filings made with the SEC.

Shakira and Nickelback, who have also signed integrated rights deals with Live Nation, received no stock as part of their deals.