Andrea Greenberg - 15 Sep 2023 Form 4 Insider Report for Sphere Entertainment Co. (SPHR)

Role: President/CEO-MSG Networks
Signature: /s/ Mark C. Cresitello, Attorney-in-Fact for Andrea Greenberg
Issuer symbol: SPHR
Transactions as of: 15 Sep 2023
Net transactions value: -$885,379
Form type: 4
Filing time: 19 Sep 2023, 16:15:28 UTC
Previous filing: 06 Sep 2023
Next filing: 12 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPHR	Class A Common Stock	Options Exercise	$0	+27,070	+42%	$0.000000	90,957	15 Sep 2023	Direct	F1
transaction	SPHR	Class A Common Stock	Options Exercise	$0	+9,024	+9.9%	$0.000000	99,981	15 Sep 2023	Direct	F2
transaction	SPHR	Class A Common Stock	Options Exercise	$0	+5,836	+5.8%	$0.000000	105,817	15 Sep 2023	Direct	F3
transaction	SPHR	Class A Common Stock	Options Exercise	$0	+6,593	+6.2%	$0.000000	112,410	15 Sep 2023	Direct	F4
transaction	SPHR	Class A Common Stock	Tax liability	$885,379	-23,629	-21%	$37.47	88,781	15 Sep 2023	Direct	F5

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	-27,070	-100%	$0.000000^*	0	15 Sep 2023	Class A Common Stock	27,070		Direct	F1
transaction	SPHR	Restricted Stock Units	Options Exercise	$0	-9,024	-100%	$0.000000^*	0	15 Sep 2023	Class A Common Stock	9,024		Direct	F2
transaction	SPHR	Restricted Stock Units	Options Exercise	$0	-5,836	-50%	$0.000000	5,836	15 Sep 2023	Class A Common Stock	5,836		Direct	F3
transaction	SPHR	Restricted Stock Units	Options Exercise	$0	-6,593	-33%	$0.000000	13,187	15 Sep 2023	Class A Common Stock	6,593		Direct	F4

* 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 August 26, 2020 under the MSG Networks Inc. 2010 Employee Stock Plan, as amended and assumed by Sphere Entertainment Co. ("SPHR") (the "MSGN 2010 Employee Stock Plan"), and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The RSUs vested and were settled on September 15, 2023, other than the RSUs that vested and were settled for FICA taxes in November 2021.
F2	Each RSU was granted on August 26, 2020 under the MSGN 2010 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 15, 2021. One-third of the RSUs vested and were settled on September 15, 2022. The remaining one-third of the RSUs vested and were settled on September 15, 2023, in each case, other than the RSUs that vested and were settled for FICA taxes in November 2021.
F3	Each RSU was granted on August 27, 2021 under the MSGN 2010 Employee Stock Plan and represents a right to receive one share of SPHR Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2022. One-third of the RSUs vested and were settled on September 15, 2023. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2024, in each case, other than the RSUs that vested and were settled for FICA taxes in November 2021.
F4	Each RSU was granted on August 31, 2022 under the MSGN 2010 Employee Stock Plan and represents a right to receive one share of SPHR Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2023. One-third of the RSUs are scheduled to vest and settle on September 15, 2024. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2025, in each case, other than the RSUs that vested and were settled for FICA taxes in August 2022.
F5	Represents RSUs of SPHR withheld to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs described in footnotes 1, 2, 3 and 4, exempt under Rule 16b-3.