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 · 4 exercises

KOESTER JENNIFER

Filed: 9/17/2026ACC: 0001193125-26-394321

InsiderKOESTER JENNIFERCIK 2008791

→

IssuerSPHERE ENTERTAINMENT CO.CIK 1795250

Officer· President & COO, Sphere

Since Mar 2026

-24.28K

Net shares

Net seller

$3.50M

Total sold

Open market trades

0B · 0S

Total transactions

47.57K acquired · 71.86K disposed

Non-Derivative Transactions6

Class A Common Stock

Direct

M · Option Exercise

+11.99K

Price / share

—

Trade value

—

% of position

38.8%

9/15/2026

30.92K→42.91K

Class A Common Stock

Direct

M · Option Exercise

+6.83K

Price / share

—

Trade value

—

% of position

15.9%

9/15/2026

42.91K→49.73K

Class A Common Stock

Direct

M · Option Exercise

+8.27K

Price / share

—

Trade value

—

% of position

16.6%

9/15/2026

49.73K→58K

Class A Common Stock

Direct

F · Tax Withholding

−13.83K

Price / share

$144.12

Trade value

$1.99M

% of position

23.8%

9/15/2026

58K→44.18K

Class A Common Stock

Direct

M · Option Exercise

+20.49K

Price / share

—

Trade value

—

% of position

46.4%

9/15/2026

44.18K→64.67K

Class A Common Stock

Direct

F · Tax Withholding

−10.46K

Price / share

$144.12

Trade value

$1.51M

% of position

16.2%

9/15/2026

64.67K→54.21K

Total

Net shares

+23.29K

Net value

-$3.50M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Direct	9/15/2026	M · Option Exercise	+11.99K	—	—	38.8%	30.92K	42.91K
Class A Common Stock Direct	9/15/2026	M · Option Exercise	+6.83K	—	—	15.9%	42.91K	49.73K
Class A Common Stock Direct	9/15/2026	M · Option Exercise	+8.27K	—	—	16.6%	49.73K	58K
Class A Common Stock Direct	9/15/2026	F · Tax Withholding	−13.83K	$144.12	$1.99M	23.8%	58K	44.18K
Class A Common Stock Direct	9/15/2026	M · Option Exercise	+20.49K	—	—	46.4%	44.18K	64.67K
Class A Common Stock Direct	9/15/2026	F · Tax Withholding	−10.46K	$144.12	$1.51M	16.2%	64.67K	54.21K
Total			+23.29K		-$3.50M

Derivative Transactions4

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

11.99K shares

−11.99K

Strike price

Held after

0.00

Exercisable

—

9/15/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

6.83K shares

−6.83K

Strike price

Held after

0.00

Exercisable

—

9/15/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

8.27K shares

−8.27K

Strike price

Held after

8.27K

Exercisable

—

9/15/2026

Performance Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

20.49K shares

−20.49K

Strike price

Held after

0.00

Exercisable

—

9/15/2026

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Restricted Stock Units Direct	Class A Common Stock11.99K shares	9/15/2026	M · Option Exercise	−11.99K	—	0.00
Restricted Stock Units Direct	Class A Common Stock6.83K shares	9/15/2026	M · Option Exercise	−6.83K	—	0.00
Restricted Stock Units Direct	Class A Common Stock8.27K shares	9/15/2026	M · Option Exercise	−8.27K	—	8.27K
Performance Restricted Stock Units Direct	Class A Common Stock20.49K shares	9/15/2026	M · Option Exercise	−20.49K	—	0.00