Unloading rate and maximum load have been previously shown to affect the response of silicon to sharp indentation, but no such study exists for spherical indentation. In this work, a statistical analysis of over 1900 indentations made with a 13.5-μm radius spherical indenter on a single-crystal silicon wafer over a range of loads (25–700 mN) and loading/unloading rates (1–30 mN/s) is presented. The location of “pop-in” and “pop-out” events, most likely due to pressure-induced phase transformations, is noted, as well as pressures at which they occur. Multiple occurrences of pop-in and pop-out events are reported. Raman micro-spectroscopy shows a higher intensity of metastable silicon phases at some depth under the surface of the residual impression, where the highest shear stresses are present. A stability range for Si-II is demonstrated and compared with previous results for Berkovich indentation.