Sphere Entertainment Adds Directors, Details Officer Compensation
Ticker: SPHR · Form: 8-K · Filed: Jul 3, 2024 · CIK: 1795250
| Field | Detail |
|---|---|
| Company | Sphere Entertainment Co. (SPHR) |
| Form Type | 8-K |
| Filed Date | Jul 3, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $230,000, $11,770,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, governance, executive-compensation
TL;DR
Sphere Entertainment adds 2 directors to the board, effective June 30th.
AI Summary
Sphere Entertainment Co. announced on June 30, 2024, the election of David Rone and David J. Shiffman to its Board of Directors, effective immediately. This follows the company's fiscal year end on June 30, 2024. The filing also details compensatory arrangements for certain officers.
Why It Matters
The addition of new directors can signal strategic shifts or governance changes within the company. Details on executive compensation are important for understanding management incentives and potential future costs.
Risk Assessment
Risk Level: low — This filing primarily concerns board appointments and routine disclosures, with no immediate financial or operational risks indicated.
Key Players & Entities
- Sphere Entertainment Co. (company) — Registrant
- David Rone (person) — Elected Director
- David J. Shiffman (person) — Elected Director
- June 30, 2024 (date) — Effective date of director elections and fiscal year end
FAQ
Who were the individuals elected to the Board of Directors?
David Rone and David J. Shiffman were elected to the Board of Directors.
When were the director elections effective?
The elections were effective as of June 30, 2024.
What is Sphere Entertainment Co.'s fiscal year end?
Sphere Entertainment Co.'s fiscal year ends on June 30.
What other information is disclosed in this 8-K filing?
The filing also covers compensatory arrangements of certain officers.
What was Sphere Entertainment Co. formerly known as?
Sphere Entertainment Co. was formerly known as Madison Square Garden Entertainment Corp. and MSG ENTERTAINMENT SPINCO, INC.
Filing Stats: 1,092 words · 4 min read · ~4 pages · Grade level 12.7 · Accepted 2024-07-03 17:17:30
Key Financial Figures
- $230,000 — ive an annual base salary not less than $230,000 and, consistent with the prior employme
- $11,770,000 — an annual target value of not less than $11,770,000. The Renewal Agreement provides for a
Filing Documents
- d746242d8k.htm (8-K) — 31KB
- d746242dex101.htm (EX-10.1) — 153KB
- g746242g0702024527101.jpg (GRAPHIC) — 3KB
- 0001193125-24-175110.txt ( ) — 345KB
- sphr-20240630.xsd (EX-101.SCH) — 3KB
- sphr-20240630_lab.xml (EX-101.LAB) — 17KB
- sphr-20240630_pre.xml (EX-101.PRE) — 11KB
- d746242d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description of Exhibit 10.1 Employment Agreement, dated as of June 30, 2024, between Sphere Entertainment Co. and James L. Dolan (including the Form of the Performance Vesting Option Agreement). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). This exhibit is a management contract or a compensatory plan or arrangement.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SPHERE ENTERTAINMENT CO. (Registrant) By: /s/ Mark Cresitello Name: Mark Cresitello Title: Secretary Dated: July 3, 2024