[144] Sphere Entertainment Co. SEC Filing

Rhea-AI Filing Summary

Sphere Entertainment Co. (SPHR) notice reports a proposed sale of 17,620 Class A shares through Fidelity Brokerage Services on the NYSE with an aggregate market value of $1,019,317.00, scheduled approximately for 09/11/2025. The filing lists total outstanding Class A shares as 29,132,663. The shares being sold were acquired via restricted stock vesting: 2,747 shares on 09/01/2020 and 14,873 shares on 09/15/2021, both recorded as compensation with payment dates matching acquisition dates. The filer reports no securities sold in the past three months and makes the standard representation that they are unaware of undisclosed material adverse information about the issuer.

Positive

• Full disclosure of transaction details: share count, aggregate value, broker, exchange, and acquisition history are provided
• No sales in the prior three months, which may indicate this is an isolated liquidity event rather than ongoing insider selling
• Shares were acquired by restricted stock vesting, showing compensation origin rather than opportunistic market purchases

Negative

• No indication of a 10b5-1 trading plan adoption date in the remarks, so trading intent timing is not specified
• Large aggregate value ($1,019,317) could be viewed negatively by some investors if interpreted as insider cashing out, though materiality is small relative to shares outstanding

Insights

Securities Analyst

TL;DR: Officer/insider plans a single sale of 17,620 Class A shares (~$1.02M) acquired via prior restricted stock vesting.

The filing shows a routine insider liquidity event rather than an operational disclosure. The sale amount represents about 0.060% of the outstanding Class A shares (17,620 of 29,132,663), so the transaction is unlikely to materially affect market supply. Acquisition history indicates these shares were granted as compensation in 2020 and 2021 and vested; there are no reported sales in the prior three months, suggesting this is not part of frequent selling. The filing includes the required representation regarding material nonpublic information.

Corporate Governance Expert

TL;DR: This is a compliance-driven disclosure of a planned insider sale with standard attestations; no governance red flags shown.

The Form 144 documents a planned disposal through a broker and discloses the origin of the holdings (restricted stock vesting). The absence of recent sales and the explicit listing of vesting dates support transparency. There is no indication of a trading plan date or Rule 10b5-1 instruction noted in the remarks, only the standard attestation. From a governance perspective, the filing meets Rule 144 procedural requirements but does not provide further context on intent or planned post-sale share ownership.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	17620	1019317.00	29132663	09/11/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	09/01/2020	Restricted Stock Vesting	Issuer			2747	09/01/2020	Compensation
Class A	09/15/2021	Restricted Stock Vesting	Issuer			14873	09/15/2021	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is being sold in the SPHR Form 144?

The filer proposes to sell 17,620 Class A shares of Sphere Entertainment Co. on the NYSE through Fidelity Brokerage Services.

What is the aggregate market value of the proposed sale (SPHR)?

The aggregate market value is reported as $1,019,317.00 for the 17,620 shares.

When are the SPHR shares scheduled to be sold?

The approximate date of sale listed in the filing is 09/11/2025.

How were the shares being sold originally acquired?

All shares were acquired via restricted stock vesting: 2,747 shares on 09/01/2020 and 14,873 shares on 09/15/2021, recorded as compensation.

Has the filer sold other SPHR securities in the past three months?

The filing states Nothing to Report for securities sold during the past three months.