Granville-Smith David 4
4 · Sphere Entertainment Co. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Sphere (SPHR) EVP David Granville-Smith Receives RSU Shares
What Happened
David Granville-Smith, Executive Vice President of Sphere Entertainment Co. (SPHR), had 6,704 restricted stock units (RSUs) vest and convert into Class A shares on March 13, 2026. The conversion (reported as code M) resulted in 6,704 shares being issued to him at $0.00 (RSUs convert without an exercise price). To satisfy tax withholding obligations (reported as code F), 3,688 of those shares were withheld at an implied price of $105.70 per share, equal to roughly $389,822. Net shares issued to him after withholding: 3,016.
Key Details
- Transaction date: March 13, 2026; Form 4 filed March 17, 2026 (timely — within required two business days).
- Conversion/settlement: 6,704 RSUs converted to 6,704 shares (reported at $0.00).
- Tax withholding: 3,688 shares withheld (treated as a disposition) at $105.70/share ≈ $389,822.
- Net shares received: 3,016 shares (6,704 vested − 3,688 withheld).
- Footnotes: F1 — RSUs were granted March 12, 2025; one-third vested/settled on March 13, 2026, with remaining tranches on Mar 15, 2027 and Mar 15, 2028. F2 — the withheld shares were used to satisfy tax withholding and are exempt under Rule 16b-3.
- Shares owned after the transaction: not specified in the provided filing.
Context
This was an RSU vesting and settlement (award conversion), not an open-market buy or voluntary sale. The $0.00 exercise price reflects RSUs converting to shares rather than option exercises requiring cash. Withholding shares to cover taxes is a common, routine payroll-related disposition and does not necessarily signal insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-03-13+6,704→ 60,152 total - Tax Payment
Class A Common Stock
[F2]2026-03-13$105.70/sh−3,688$389,822→ 56,464 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-13−6,704→ 13,410 totalExp: 2028-03-15→ Class A Common Stock (6,704 underlying)
Footnotes (2)
- [F1]Each restricted stock unit ("RSU") was granted on March 12, 2025 under the Sphere Entertainment Co. ("SPHR") 2020 Employee Stock Plan, as amended 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 March 13, 2026. One-third of the RSUs are scheduled to vest and settle on March 15, 2027. The remaining one-third of the RSUs are scheduled to vest and settle on March 15, 2028.
- [F2]Represents RSUs of SPHR withheld to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs described in footnote 1, exempt under Rule 16b-3.