Form 4: Sphere Entertainment Co. Executive Andrea Greenberg Reports Stock Transactions
SEC Form 4 Filing
Andrea Greenberg, President/CEO of MSG Networks, reports acquisition and disposal of Sphere Entertainment Co. Class A Common Stock and Restricted Stock Units to cover tax obligations.
Summary
- On March 12, 2025, Andrea Greenberg, President/CEO of MSG Networks and an officer of Sphere Entertainment Co., reported transactions involving Sphere Entertainment Co. Class A Common Stock and Restricted Stock Units (RSUs).
- Greenberg acquired 1,437 shares of Class A Common Stock upon the vesting of RSUs, with the price noted as $0.00.
- Simultaneously, 1,437 shares were disposed of at a price of $31.89 to satisfy FICA tax withholding obligations related to the vesting of the RSUs.
- Following these transactions, Greenberg directly owns 97,557.979 shares of Class A Common Stock and 28,438 RSUs.
- Additionally, Greenberg was granted 29,875 RSUs which are scheduled to vest in three equal installments on March 15, 2026, March 15, 2027, and March 15, 2028.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the executive's stock ownership.
Future Outlook
The RSUs are scheduled to vest and settle in three equal installments on March 15, 2026, March 15, 2027 and March 15, 2028.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is standard practice for publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
- Companies like Live Nation Entertainment and Madison Square Garden Entertainment (previously related to Sphere Entertainment Co.) also regularly file Form 4s for their executives.
- The vesting schedules and terms of RSUs are generally comparable across similar companies, often tied to continued employment and performance metrics.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they represent a small percentage of the total outstanding shares.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/12/2025 | Date of stock transactions (acquisition and disposal) and RSU grant. |
| 03/14/2025 | Date of signature on the Form 4 filing. |
| 03/15/2026 | First vesting date for the newly granted RSUs. |
| 03/15/2027 | Second vesting date for the newly granted RSUs. |
| 03/15/2028 | Final vesting date for the newly granted RSUs. |
Keywords
Sphere Entertainment Co., SPHR, Andrea Greenberg, Form 4, Stock Transactions, Restricted Stock Units, FICA Tax, MSG Networks, Beneficial Ownership
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