Dolan Ryan Thomas 4

What Happened
Ryan Thomas Dolan, a director of Sphere Entertainment Co. (SPHR), had restricted stock units (RSUs) vest and convert into 908 shares on March 13, 2026 (670 + 238). To satisfy tax withholding obligations, 325 of those shares were withheld/disposed at a per-share value of $105.70 (total value $34,353). The vesting resulted in a net issuance of 583 shares to Mr. Dolan. These were vesting/settlement transactions (award conversions), not open-market purchases or sales.

Key Details

• Transaction date: March 13, 2026. Conversion of RSUs into 670 and 238 shares (codes M) at $0 exercise price; 325 shares withheld for taxes (code F) at $105.70/share = $34,353.
• Net shares received: 908 vested – 325 withheld = 583 shares issued to the insider.
• Footnotes: RSUs were granted 3/12/2025 (F1) and 10/17/2025 (F2). For each grant, one‑third vested and settled on 3/13/2026; remaining thirds scheduled to vest/settle on 3/15/2027 and 3/15/2028. Withheld shares to cover taxes are described in F3 and are exempt under Rule 16b‑3.
• Filing: Form 4 filed 3/17/2026 for the 3/13/2026 transactions — filed within the normal 2 business‑day reporting window.

Context
This is routine RSU vesting and tax withholding, not an open-market sale or purchase. Code M indicates conversion/settlement of derivative awards (RSUs) into shares; code F indicates shares withheld to cover tax obligations. Such withholdings are common and reflect tax payment, not a directional buy or sell signal.