Langer Robert H. 4

What Happened
Robert H. Langer, EVP, CFO & Treasurer of Sphere Entertainment Co. (SPHR), was granted 7,527 Restricted Stock Units (RSUs) on March 11, 2026. The award is reported at $0.00 per unit (derivative award) — the RSUs represent the right to receive one share of Class A common stock (or cash equivalent) when they vest.

Key Details

• Transaction date and filing: Grant dated 2026-03-11; Form 4 filed 2026-03-13 (appears timely).
• Award: 7,527 RSUs; reported price $0.00; reported value $0 (derivative award at grant).
• Vesting schedule: RSUs vest and settle in three equal installments on Mar 15, 2027; Mar 15, 2028; and Mar 15, 2029 (per footnote).
• Footnote summary: RSUs granted under the Sphere Entertainment Co. 2020 Employee Stock Plan and each unit converts to one share or cash equivalent upon settlement.
• Shares owned after transaction: Not specified in the filing.

Context
This was a compensation grant (award of RSUs), not a market purchase or sale. RSUs convert to shares (or cash) only as they vest per the schedule above; they do not indicate an immediate buy or sell of stock. Such grants are common executive compensation and should be interpreted as compensation-related rather than a direct trading signal.