Welcome to our dedicated page for Sphere Entertainment Co. SEC filings (Ticker: SPHR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Sphere Entertainment Co. filings document the company’s results, governance, capital structure and material events as a Nevada entertainment and media issuer with Class A common stock listed on the New York Stock Exchange under SPHR. Form 8-K reports furnish quarterly and annual operating results for the Sphere and MSG Networks businesses and disclose material agreements, including credit facilities involving MSG Las Vegas.
Proxy materials cover board matters, executive compensation, equity awards and shareholder voting items. Other current reports document officer appointments, departures and accounting-officer responsibilities, linking governance disclosures to the company’s operating subsidiaries and media assets.
Sphere Entertainment Co. director Ryan Thomas Dolan received three grants of stock appreciation rights on October 25, 2023 under the company’s 2020 Employee Stock Plan. Each grant covers 14,031 stock appreciation rights tied to Class A common stock, with exercise prices of $42.23, $45.60, and $50.67 per share.
Upon exercise, the rights pay cash equal to the number of rights exercised multiplied by the amount the share price exceeds the exercise price. According to the filing, these stock appreciation rights vest on October 20, 2026, provided Dolan remains employed by Sphere Entertainment or one of its subsidiaries through that date, subject to limited exceptions.
Sphere Entertainment Co. reported that Executive Vice President David Granville-Smith received a grant of 7,527 Restricted Stock Units (RSUs) under the company’s 2020 Employee Stock Plan. Each RSU represents one share of Class A Common Stock or the cash equivalent.
The RSUs are scheduled to vest and settle in three equal installments on March 15, 2027, March 15, 2028, and March 15, 2029. Following this award, Granville-Smith is reported as directly holding 7,527 RSUs, highlighting a compensation-based, non-market acquisition rather than an open-market share purchase or sale.
Langer Robert H. reported acquisition or exercise transactions in this Form 4 filing.
Sphere Entertainment Co. reported that EVP, CFO & Treasurer Robert H. Langer received a grant of 7,527 Restricted Stock Units on March 11, 2026. 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 his compensation with longer-term company performance.
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.
Sphere Entertainment Co. received Amendment No. 8 to a Schedule 13D from members of the Dolan family and related trusts, updating their collective ownership of the company’s Class A Common Stock.
As of March 9, 2026, the group may be deemed to beneficially own 8,698,719 shares of Class A Common Stock, including 1,831,965 existing Class A shares and 6,866,754 shares issuable upon conversion of an equal number of Class B shares. This represents approximately 24.4% of the total Common Stock deemed outstanding, based on 28,635,366 Class A shares outstanding as of January 31, 2026. The filing also adds Thomas C. Dolan as a Reporting Person and confirms there were no transactions in Class A shares by the Reporting Persons since Amendment No. 7.
Sphere Entertainment Co. received an updated Schedule 13D/A from members of the Dolan family and related trusts. As of February 27, 2026, these group members may be deemed to beneficially own 8,698,719 shares of Class A Common Stock, including 6,866,754 shares issuable upon conversion of an equal number of Class B shares, representing about 24.4% of the company’s total common stock.
The filing notes that on February 17, 2026, James L. Dolan exercised 108,630 stock options for Class A shares through a cashless exercise, with 21,670 shares withheld for taxes and 63,761 shares withheld for the exercise price. It also discloses a secured margin line of credit with JPMorgan, under which Dolan and two related Dolan family entities pledged an aggregate of 1,028,894 shares of Class A Common Stock as collateral, which JPMorgan may foreclose on and dispose of under customary events defined in the agreements.
Sphere Entertainment Co. executives James L. Dolan and Kristin A. Dolan reported a series of option exercises and related share dispositions in Class A Common Stock. On February 17, 2026, each exercised 54,315 stock options that had been granted under the MSG Networks Inc. 2010 Employee Stock Plan, which Sphere has assumed. The options were exercised through a cashless exercise and settled in cash.
Following these exercises, transactions in Class A Common Stock included dispositions to the issuer and shares withheld to cover the option exercise price and tax obligations at $114.71 per share, rather than open-market sales. After these movements, James L. Dolan directly held 978,468 shares of Class A Common Stock, with additional indirect holdings reported for spouse, minor children, and household members, all subject to explicit disclaimers of beneficial ownership by the respective spouses and for minor/household accounts.
Ariel Investments, LLC has disclosed a significant passive stake in Sphere Entertainment Co. As of 12/31/2025, Ariel reports beneficial ownership of 3,168,534 shares of Class A common stock, representing 11.1% of the class. Ariel has sole voting power over 2,780,058 shares and sole dispositive power over 3,168,534 shares, with no shared voting or dispositive power.
The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Sphere Entertainment. Ariel’s adviser clients are entitled to dividends and sale proceeds from these shares, but no single client holds more than 5% of the class.
Sphere Entertainment Co. files its annual report describing a business built around two segments: the Sphere immersive venue platform and MSG Networks’ regional sports and streaming operations. The company changed its fiscal year-end to December 31 and now reports on a calendar-year basis.
Sphere in Las Vegas features a 17,600-seat bowl, a 16K x 16K interior LED screen, an LED Exosphere exterior and proprietary audio and 4D effects, hosting original productions, concerts, sports and brand events. Strategy centers on leveraging these technologies, expanding a global Sphere network with projects in Abu Dhabi and a planned smaller-scale venue at National Harbor, and monetizing advertising, sponsorship and premium hospitality.
MSG Networks operates the MSG Network and MSG Sportsnet channels plus the MSG+ direct-to-consumer service within the Gotham Sports streaming product, holding key local media rights for New York-area NBA and NHL teams. The filing highlights substantial competition, high capital needs for Sphere, material reliance on The Sphere Experience, significant MSG Networks debt obligations, regulatory exposure and evolving cybersecurity and data-privacy risks.
Sphere Entertainment Co. reported sharply improved results for the fourth quarter and full year 2025. Fourth-quarter revenue was $394.3 million, up 28% year over year, with net income attributable to stockholders of $57.6 million versus a prior-year loss. Full-year revenue reached $1,220.0 million, up 8%, while the operating loss narrowed to $229.6 million from $372.3 million. Adjusted operating income rose to $128.0 million in Q4 and $261.8 million for the year, an increase of 138%.
The Sphere segment drove growth, with Q4 revenue of $274.2 million, up 62%, and full-year revenue of $781.4 million, up 27%, though it still posted an operating loss. MSG Networks revenue declined. Cash provided by operating activities jumped to $243.3 million from $69.4 million. Management highlighted progress expanding the Sphere concept, including a planned smaller-scale venue at National Harbor, strong ticket sales for The Wizard of Oz at Sphere, repeat CES keynote usage, and new multi-year sponsorships.