# EDGAR Filing Document

**Accession Number:** 0001795250
**File Stem:** 0001193125-26-059341
**Filing Date:** 2026-2
**Character Count:** 10292
**Document Hash:** f4939df0f9fe0a45e1cd5c67d6768e5a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-059341.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0001193125-26-059341

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260217

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** DOLAN JAMES LAWRENCE
- **CENTRAL INDEX KEY:** 0000933028

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39245
- **FILM NUMBER:** 26654298

**MAIL ADDRESS:**
- **STREET 1:** BAKER BOTTS L.L.P.
- **STREET 2:** 30 ROCKEFELLER PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10112
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Dolan Kristin A
- **CENTRAL INDEX KEY:** 0001480991

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39245
- **FILM NUMBER:** 26654297

**MAIL ADDRESS:**
- **STREET 1:** C/O MSG TWO PENN PLAZA
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10121
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sphere Entertainment Co.
- **CENTRAL INDEX KEY:** 0001795250
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 843755666
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** TWO PENNSYLVANIA PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10121
- **BUSINESS PHONE:** 725-258-0001

**MAIL ADDRESS:**
- **STREET 1:** TWO PENNSYLVANIA PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Madison Square Garden Entertainment Corp.
- **DATE OF NAME CHANGE:** 20200417

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MSG ENTERTAINMENT SPINCO, INC.
- **DATE OF NAME CHANGE:** 20191126

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>DOLAN JAMES LAWRENCE<br><sub>(Last) (First) (Middle)</sub><br>TWO PENNSYLVANIA PLAZA<br><sub>(Street)</sub><br>NEW YORK, NY 10121<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-02-17 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [X] Other (specify below)<br>_Executive Chairman and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Sphere Entertainment Co. [ SPHR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Dolan Kristin A<br><sub>(Last) (First) (Middle)</sub><br>TWO PENNSYLVANIA PLAZA<br><sub>(Street)</sub><br>NEW YORK, NY 10121<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-02-17 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Sphere Entertainment Co. [ SPHR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2026-02-17 |  | M |  | 54315<sup>(1)</sup> | A | $67.33 | 1032783<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock | 2026-02-17 |  | M |  | 54315<sup>(1)</sup> | A | $67.33 | 1087098<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock | 2026-02-17 |  | D |  | 11599.5<sup>(1)</sup> | D | $114.71 | 1075498.5<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock | 2026-02-17 |  | D |  | 11599.5<sup>(1)</sup> | D | $114.71 | 1063899<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock | 2026-02-17 |  | F |  | 63761<sup>(4)</sup> | D | $114.71 | 1000138<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock | 2026-02-17 |  | F |  | 21670<sup>(5)</sup> | D | $114.71 | 978468<sup>(2)</sup> | D<sup>(3)</sup> |  |
| Class A Common Stock |  |  |  |  |  |  |  | 14119 | I<sup>(6)</sup> | By Spouse |
| Class A Common Stock |  |  |  |  |  |  |  | 746 | I<sup>(7)</sup> | By Minor Children and Household Members |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Options (Rights to Buy) | $67.33 | 2026-02-17 |  | M |  |  | 54315<sup>(1)</sup> | <sup>(8)</sup> | 2026-02-25 | Class A Common Stock | 54315 | $0 | 0 | D |  |
| Stock Options (Rights to Buy) | $67.33 | 2026-02-17 |  | M |  |  | 54315<sup>(1)</sup> | 2021-08-28 | 2026-02-25 | Class A Common Stock | 54315 | $0 | 0 | D |  |

---

### Footnotes:

(1) Each stock option was granted under the MSG Networks Inc. 2010 Employee Stock Plan, as amended and assumed by Sphere Entertainment Co. ("SPHR"), and represents the option to purchase Class A Common Stock. The options were exercised on February 17, 2026, through cashless exercise, and settled in cash.

(2) Includes shares jointly held with spouse.

(3) Securities held directly by James L. Dolan, Kristin A. Dolan's spouse. Ms. Dolan disclaims beneficial ownership of these securities, and this filing shall not be deemed an admission that Ms. Dolan is, for the purpose of Section 16 or for any other purpose, the beneficial owner of such securities.

(4) Represents shares of Class A Common Stock withheld to satisfy the exercise price in connection with the exercise of stock options described in footnote 1, exempt under Rule 16b-3.

(5) Represents shares of Class A Common Stock withheld to satisfy tax withholding obligations in connection with the exercise and settlement of stock options described in footnote 1, exempt under Rule 16b-3.

(6) Securities held directly by Kristin A. Dolan, James L. Dolan's spouse. Mr. Dolan disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Ms. Dolan (other than securities in which he has a direct pecuniary interest) and this report shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.

(7) The reporting persons disclaim beneficial ownership of all securities of SPHR beneficially owned and deemed to be beneficially owned by their minor children and household members and this report shall not be deemed an admission that reporting persons are, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.

(8) Two-thirds of the stock options were fully vested on the date of grant, July 9, 2021, and the remaining one-third vested on August 29, 2021.

**Signature:** /s/ James L. Dolan  
**Date:** 2026-02-19

**Signature:** /s/ Mark C. Cresitello, Attorney-in-Fact for Kristin A. Dolan  
**Date:** 2026-02-19

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**