KOESTER JENNIFER (President & COO, Sphere) exercised options at SPHERE ENTERTAINMENT CO.

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 3 exercises

KOESTER JENNIFER

Filed: 9/17/2025ACC: 0001193125-25-206146

InsiderKOESTER JENNIFERCIK 2008791

→

IssuerSPHERE ENTERTAINMENT CO.CIK 1795250

Officer· President & COO, Sphere

Since Mar 2026

-13.83K

Net shares

Net seller

$833.6K

Total sold

Open market trades

0B · 0S

Total transactions

27.09K acquired · 40.91K disposed

Non-Derivative Transactions4

Class A Common Stock

Direct

M · Option Exercise

+11.99K

Price / share

—

Trade value

—

% of position

130.1%

9/15/2025

9.21K→21.20K

Class A Common Stock

Direct

M · Option Exercise

+6.83K

Price / share

—

Trade value

—

% of position

32.2%

9/15/2025

21.20K→28.03K

Class A Common Stock

Direct

M · Option Exercise

+8.27K

Price / share

—

Trade value

—

% of position

29.5%

9/15/2025

28.03K→36.30K

Class A Common Stock

Direct

F · Tax Withholding

−13.83K

Price / share

$60.29

Trade value

$833.57K

% of position

38.1%

9/15/2025

36.30K→22.47K

Total

Net shares

+13.26K

Net value

-$833.57K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Direct	9/15/2025	M · Option Exercise	+11.99K	—	—	130.1%	9.21K	21.20K
Class A Common Stock Direct	9/15/2025	M · Option Exercise	+6.83K	—	—	32.2%	21.20K	28.03K
Class A Common Stock Direct	9/15/2025	M · Option Exercise	+8.27K	—	—	29.5%	28.03K	36.30K
Class A Common Stock Direct	9/15/2025	F · Tax Withholding	−13.83K	$60.29	$833.57K	38.1%	36.30K	22.47K
Total			+13.26K		-$833.57K

Derivative Transactions3

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

11.99K shares

−11.99K

Strike price

Held after

11.99K

Exercisable

—

9/15/2025

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

6.83K shares

−6.83K

Strike price

Held after

6.83K

Exercisable

—

9/15/2025

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

8.27K shares

−8.27K

Strike price

Held after

16.54K

Exercisable

—

9/15/2025

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Restricted Stock Units Direct	Class A Common Stock11.99K shares	9/15/2025	M · Option Exercise	−11.99K	—	11.99K
Restricted Stock Units Direct	Class A Common Stock6.83K shares	9/15/2025	M · Option Exercise	−6.83K	—	6.83K
Restricted Stock Units Direct	Class A Common Stock8.27K shares	9/15/2025	M · Option Exercise	−8.27K	—	16.54K