Sphere EVP settles 85,818 stock units
Sphere Entertainment Co. (SPHR) reported that Executive Vice President David Granville-Smith settled multiple equity awards into Class A Common Stock on September 15, 2026.
Rhea-AI Filing Summary
Sphere Entertainment Co. (SPHR) reported that Executive Vice President David Granville-Smith settled multiple equity awards into Class A Common Stock on September 15, 2026. He converted a total of 85,818 restricted and performance stock units granted under the 2020 Employee Stock Plan into shares, including RSUs granted on June 15, 2023, September 1, 2023, and August 27, 2024, and PSUs granted on September 1, 2023. To cover tax withholding obligations on these vestings, 32,582 RSU shares and 14,874 PSU shares of Class A Common Stock were delivered back to Sphere Entertainment Co. at $144.12 per share, exempt under Rule 16b-3. No open-market purchases or sales are reported, and no Rule 10b5-1 trading plan is indicated.
Positive
- None.
Negative
- None.
Insider Trade Summary
85,818 shares exercised/converted
Exercise
10 txns
Insider
Granville-Smith David
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1 | 46,742 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2 | 8,966 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3 | 3,213 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F5 | 26,897 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1 | 46,742 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F2 | 8,966 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F3 | 3,213 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F4 | 32,582 | $144.12 | $4.70M |
| Exercise | Class A Common Stock F5 | 26,897 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F6 | 14,874 | $144.12 | $2.14M |
Holdings After Transaction:
Restricted Stock Units — 3,214 contracts (Direct);
Performance Restricted Stock Units — 0 contracts (Direct);
Class A Common Stock — 94,826 shares (Direct)
Footnotes (6)
- F1. Each restricted stock unit ("RSU") was granted on June 15, 2023 under the Sphere Entertainment Co. ("SPHR") 2020 Employee Stock Plan, as amended (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 vested and were settled on September 15, 2025. The remaining one-third of the RSUs vested and were settled on September 15, 2026.
- F2. Each RSU was granted on September 1, 2023 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 vested and were settled on September 15, 2025. The remaining one-third of the RSUs vested and were settled on September 15, 2026.
- F3. Each RSU was granted on August 27, 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 15, 2025. One-third of the RSUs vested and were settled on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.
- F4. Represents RSUs of SPHR withheld to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs described in footnotes 1, 2 and 3, exempt under Rule 16b-3.
- F5. Each performance restricted stock unit ("PSU") was granted on September 1, 2023 under the 2020 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The Compensation Committee of the Board of Directors of SPHR deemed such PSUs earned at 100% of target on March 27, 2024. The PSUs vested and were settled on September 15, 2026.
- F6. Represents PSUs of SPHR withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 5, exempt under Rule 16b-3.
Key Figures
Equity units converted: 85,818 units
RSUs June 15, 2023 grant settled: 46,742 units
RSUs September 1, 2023 grant settled: 8,966 units
+5 more
8 metrics
Equity units converted
85,818 units
Total RSUs and PSUs exercised or settled into Class A Common Stock on September 15, 2026
RSUs June 15, 2023 grant settled
46,742 units
RSUs granted June 15, 2023 under the 2020 Employee Stock Plan, one-third vesting and settling on September 15, 2026
RSUs September 1, 2023 grant settled
8,966 units
RSUs granted September 1, 2023 under the 2020 Employee Stock Plan, one-third vesting and settling on September 15, 2026
RSUs August 27, 2024 grant settled
3,213 units
RSUs granted August 27, 2024 under the 2020 Employee Stock Plan, one-third vesting and settling on September 15, 2026
Performance RSUs settled
26,897 units
PSUs granted September 1, 2023, deemed earned at 100% of target and vested and settled on September 15, 2026
Shares withheld for RSU tax obligations
32,582 shares
Class A Common Stock delivered or withheld to satisfy tax withholding obligations on RSU vesting at $144.12 per share
Shares withheld for PSU tax obligations
14,874 shares
Class A Common Stock delivered or withheld to satisfy tax withholding obligations on PSU vesting at $144.12 per share
Tax withholding share price
$144.12 per share
Price used for Class A Common Stock in tax-withholding transactions coded F on September 15, 2026
Key Terms
Restricted Stock Units, Performance Restricted Stock Units, 2020 Employee Stock Plan, Rule 16b-3
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") was granted on June 15, 2023 under the Sphere Entertainment Co. 2020 Employee Stock Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Restricted Stock Units financial
"Each performance restricted stock unit ("PSU") was granted on September 1, 2023 under the 2020 Employee Stock Plan"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
2020 Employee Stock Plan financial
"granted on June 15, 2023 under the Sphere Entertainment Co. ("SPHR") 2020 Employee Stock Plan, as amended"
Rule 16b-3 regulatory
"Represents RSUs of SPHR withheld to satisfy tax withholding obligations ... exempt under Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did SPHR Executive Vice President David Granville-Smith report on this Form 4?
He reported exercising or settling 85,818 RSUs and PSUs into Class A Common Stock of Sphere Entertainment Co. on September 15, 2026, and delivering certain shares back to the company to satisfy tax withholding obligations related to those vestings.
How many Sphere Entertainment (SPHR) RSUs and PSUs vested or settled in this filing?
A total of 85,818 units were converted into Class A Common Stock, including 46,742 RSUs granted June 15, 2023; 8,966 RSUs granted September 1, 2023; 3,213 RSUs granted August 27, 2024; and 26,897 PSUs granted September 1, 2023 that vested at 100% of target.
Did this SPHR Form 4 indicate any remaining performance restricted stock units for the reported award?
No. The performance restricted stock unit award of 26,897 PSUs is shown with 0 units remaining after vesting and settlement on September 15, 2026, indicating that particular PSU grant is fully settled.
Was a Rule 10b5-1 trading plan used for the SPHR transactions reported?
No. The document-level Rule 10b5-1 checkbox is not affirmed, and the footnotes describe vesting, settlement, and tax withholding under the 2020 Employee Stock Plan without stating that any transaction was made under a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
