Dolan Ryan Thomas 4

What Happened
Director Dolan Ryan Thomas received a grant of 2,391 Restricted Stock Units (RSUs) on 2026-03-11. The grant is recorded as an award (derivative securities) with an acquisition price of $0.00, meaning no cash was paid by the insider. RSUs represent a future right to receive one share of Class A common stock (or a cash equivalent) once vested.

Key Details

• Transaction date: 2026-03-11; Form 4 filed 2026-03-13 (filed within two days of the transaction).
• Grant: 2,391 RSUs; reported acquisition price $0.00; security type: derivative (RSU).
• Plan: Granted under the Sphere Entertainment Co. 2020 Employee Stock Plan, as amended.
• Vesting: RSUs vest and will settle in three equal installments on March 15, 2027; March 15, 2028; and March 15, 2029 (per footnote).
• Post-transaction ownership: Total shares/beneficial ownership after the grant is not specified in the provided filing excerpt.
• Filing accession: SEC filing 0001193125-26-106130.

Context
This was a compensation award (code A), not an open-market purchase or sale. RSU grants are common executive/director compensation and do not immediately transfer shares or require cash payment; value is realized only if and when the RSUs vest and convert to shares (or cash). The filing appears timely under Form 4 reporting rules.