RSU award to Sphere Entertainment (NYSE: SPHR) President & COO Koester

Rhea-AI Filing Summary

Koester Jennifer reported acquisition or exercise transactions in this Form 4 filing.

Sphere Entertainment Co. reported that President & COO of Sphere, Jennifer Koester, received a grant of 19,371 Restricted Stock Units as equity compensation. Each RSU represents one share of Class A Common Stock or the cash equivalent. The RSUs vest in three equal installments on March 15, 2027, March 15, 2028, and March 15, 2029, aligning her compensation with longer-term company performance.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Koester Jennifer

(Last) (First) (Middle)

TWO PENNSYLVANIA PLAZA

(Street)

NEW YORK NY 10121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sphere Entertainment Co. [ SPHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & COO, Sphere

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/11/2026		A		19,371		(2)	03/15/2029	Class A Common Stock	19,371	$0	19,371	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") is granted under the Sphere Entertainment Co. 2020 Employee Stock Plan, as amended, and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.

2. The RSUs are scheduled to vest and settle in three equal installments on March 15, 2027, March 15, 2028 and March 15, 2029.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Jennifer Koester	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What insider transaction did Sphere Entertainment (SPHR) report for Jennifer Koester?

Sphere Entertainment reported a grant of 19,371 Restricted Stock Units to President & COO Jennifer Koester. The award is part of her equity compensation and represents a right to receive Class A Common Stock or cash equivalent, subject to future vesting conditions.

How many Restricted Stock Units were granted to SPHR executive Jennifer Koester?

Jennifer Koester was granted 19,371 Restricted Stock Units. These RSUs are tied to Sphere Entertainment’s Class A Common Stock and will vest over time, reflecting a long-term incentive structure rather than an immediate cash or open-market stock transaction.

When do Jennifer Koester’s Sphere Entertainment RSUs vest?

The RSUs granted to Jennifer Koester vest in three equal installments on March 15, 2027, March 15, 2028, and March 15, 2029. This multi-year vesting schedule is designed to encourage long-term alignment with Sphere Entertainment’s performance and shareholder interests.

What does each RSU granted to Sphere Entertainment’s President & COO represent?

Each Restricted Stock Unit granted under the Sphere Entertainment 2020 Employee Stock Plan represents a right to receive one share of Class A Common Stock or the cash equivalent. Actual delivery occurs upon vesting, rather than at the grant date, subject to plan terms.

Is the Form 4 transaction for SPHR an open-market buy or sell of shares?

No, the Form 4 reflects a grant of Restricted Stock Units to an executive, not an open-market purchase or sale. The transaction is coded as a grant or award acquisition under the company’s equity plan, with shares or cash delivered only upon future vesting.

Under which plan were Jennifer Koester’s RSUs at Sphere Entertainment granted?

The RSUs were granted under the Sphere Entertainment Co. 2020 Employee Stock Plan, as amended. This plan governs the terms of equity awards, including how RSUs convert into Class A Common Stock or cash once vesting conditions on specified future dates are satisfied.