Granville-Smith David 4

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.