Laura Franco - Sep 13, 2024 Form 4 Insider Report for Sphere Entertainment Co. (SPHR)

Role
EVP & General Counsel
Signature
/s/ Mark C. Cresitello, Attorney-in-Fact for Laura Franco
Stock symbol
SPHR
Transactions as of
Sep 13, 2024
Transactions value $
-$131,589
Form type
4
Date filed
9/17/2024, 05:00 PM
Previous filing
Aug 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPHR Class A Common Stock Options Exercise $0 +6.64K $0.00 6.64K Sep 13, 2024 Direct F1
transaction SPHR Class A Common Stock Options Exercise $0 +1.09K +16.44% $0.00 7.73K Sep 13, 2024 Direct F2
transaction SPHR Class A Common Stock Tax liability -$132K -3.12K -40.29% $42.23 4.62K Sep 13, 2024 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPHR Restricted Stock Units Options Exercise $0 -6.64K -32% $0.00 14.1K Sep 13, 2024 Class A Common Stock 6.64K Direct F1
transaction SPHR Restricted Stock Units Options Exercise $0 -1.09K -33.31% $0.00 2.19K Sep 13, 2024 Class A Common Stock 1.09K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") was granted on April 22, 2024 under the Sphere Entertainment Co. ("SPHR") 2020 Employee Stock Plan, as amended, and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. 32% of the RSUs vested and were settled on September 13, 2024. 40% of the RSUs are scheduled to vest and settle on September 15, 2025, 24% on September 15, 2026 and 4% on September 15, 2027.
F2 Each RSU was granted on April 22, 2024 under the 2020 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 13, 2024. One-third of the RSUs are scheduled to vest and settle on September 15, 2025. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2026.
F3 Represents RSUs of SPHR withheld to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs described in footnotes 1 and 2, exempt under Rule 16b-3.