Form 4: Sphere Entertainment Co. Executive Vice President Reports Stock Transactions
SEC Form 4
Executive Vice President David Granville-Smith reports the vesting and settlement of restricted stock units (RSUs) and associated tax withholding.
Summary
- David Granville-Smith, an Executive Vice President at Sphere Entertainment Co., reported transactions involving Class A Common Stock.
- On September 13, 2024, 46,741 RSUs vested and were settled, resulting in the acquisition of 46,741 shares of Class A Common Stock.
- An additional 8,965 RSUs vested and were settled on the same date, resulting in the acquisition of 8,965 shares of Class A Common Stock.
- 30,094 shares were withheld to satisfy tax obligations related to the vesting of the RSUs.
- Following these transactions, Granville-Smith directly owns 25,612 shares of Class A Common Stock and 93,484 and 17,932 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The remaining RSUs are scheduled to vest and settle in two tranches on September 15, 2025, and September 15, 2026.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, as required by SEC regulations.
Stakeholder Impact
- The vesting of RSUs impacts the executive's ownership stake in the company.
- Tax withholding related to the vesting affects the company's cash flow.
Key Dates
| Date | Description |
|---|---|
| June 15, 2023 | Date of grant for 46,741 Restricted Stock Units under the Sphere Entertainment Co. 2020 Employee Stock Plan. |
| September 1, 2023 | Date of grant for 8,965 Restricted Stock Units under the Sphere Entertainment Co. 2020 Employee Stock Plan. |
| September 13, 2024 | Date of RSU vesting and settlement, and associated stock transactions. |
| September 15, 2025 | Scheduled vesting and settlement date for one-third of the RSUs granted on June 15, 2023 and September 1, 2023. |
| September 15, 2026 | Scheduled vesting and settlement date for the remaining one-third of the RSUs granted on June 15, 2023 and September 1, 2023. |
| 09/17/2024 | Date of Form 4 filing. |
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