Form 4: Dolan Trust Acquires SPHR Class B Shares in Repayment
Insider Ownership Change
Kathleen M. Dolan 2012 Descendants Trust acquired 56,947 shares of Sphere Entertainment Co. Class B Common Stock as partial repayment of a promissory note.
Summary
- Kathleen M. Dolan 2012 Descendants Trust, identified as a member of a 13(d) group, acquired 56,947 shares of Sphere Entertainment Co. Class B Common Stock.
- The transaction occurred on September 8, 2025, and represents a partial repayment of a promissory note.
- For the purpose of the repayment, the shares were valued at $52.2025 per share, which was the mean of the high and low trading price for Class A Common Stock on the transaction date.
- Sphere Entertainment Co. Class B Common Stock is convertible at the option of the holder on a share-for-share basis into Class A Common Stock.
- Following this transaction, the Trust beneficially owns 56,947 shares of Class B Common Stock directly.
Sentiment
Score: 5
Explanation: Neutral. This is a routine insider transaction reporting a change in beneficial ownership due to a promissory note repayment, which does not inherently indicate positive or negative operational performance or strategic shifts for the company.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- The transaction involves the Kathleen M. Dolan 2012 Descendants Trust, a member of a 13(d) group, receiving shares from Sphere Entertainment Co. as partial repayment of a promissory note. This constitutes a related party transaction given the trust's significant ownership interest and relationship to the issuer.
Stakeholder Impact
- Shareholders: The transaction increases the beneficial ownership of Class B shares by a significant shareholder group, potentially consolidating control or influence. The valuation of shares at $52.2025 provides a reference point for the value attributed to the Class B stock in this specific transaction.
Key Dates
| Date | Description |
|---|---|
| 09/08/2025 | Date of transaction where the Reporting Person received Class B Common Stock as partial repayment of a promissory note. |
| 09/10/2025 | Date the Form 4 was signed by the attorney-in-fact and filed with the SEC. |
Keywords
Sphere Entertainment Co., SPHR, Insider Transaction, Form 4, Class B Common Stock, Promissory Note, Beneficial Ownership, Kathleen M. Dolan
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