DOLAN JAMES LAWRENCE 4

What Happened

• Kristin A. Dolan, reported as a 10% owner of Sphere Entertainment Co. (SPHR), received a grant of 1,723 restricted stock units (RSUs) on June 10, 2026. The RSUs are reported at $0.00 per unit (grant value shown as $0) and are recorded as a derivative award rather than an open-market purchase or sale. This is an award/grant transaction, not a cash purchase or sale.

Key Details

• Transaction date: 2026-06-10; filing date (Form 4): 2026-06-12 (appears timely).
• Transaction type/code: A = Award/Grant (derivative instrument — RSUs).
• Shares/units granted: 1,723 RSUs; grant price reported $0.00; no immediate cash value reported at grant.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each RSU represents a right to one share of Class A common stock or the cash equivalent under the 2020 Stock Plan for Non-Employee Directors.
  • F2: The RSUs are fully vested at grant but will be settled in stock or cash on the first business day 90 days after a separation from service.
  • F3: These securities are held by Kristin A. Dolan, spouse of James L. Dolan; Mr. Dolan disclaims beneficial ownership for purposes of Section 16.

Context

• RSUs are a derivative/compensation award: they represent a future right to receive shares (or cash) rather than an immediate purchase of stock. Because these RSUs are vested but payable only after separation (per F2), they do not result in immediate share delivery or immediate market activity.
• As a reported 10% owner, this filing notifies the market under Section 16 rules; it is not the same as an executive open‑market buy or sale that might signal a trading conviction. No inference of intent or market view should be drawn from the award itself.