Form 4: Madison Square Garden Entertainment Corp. Director Acquires Restricted Stock Units

Frederic V. Salerno, a director at Madison Square Garden Entertainment Corp., acquired 4,353 restricted stock units on December 11, 2024.

Summary

• Frederic V. Salerno, a director of Madison Square Garden Entertainment Corp., was granted 4,353 restricted stock units (RSUs) on December 11, 2024.
• These RSUs were granted under the company's 2023 Stock Plan for Non-Employee Directors.
• Each RSU represents the right to receive one share of Class A Common Stock or the cash equivalent.
• The RSUs are fully vested on the grant date.
• Settlement of the RSUs, either in stock or cash, will occur on the first business day 90 days after Mr. Salerno's separation from service.
• Following this transaction, Mr. Salerno beneficially owns 16,310 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting equity compensation to a director, which is generally viewed positively as it aligns interests. There are no negative implications.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The immediate vesting of the RSUs may act as an incentive for continued service.

Future Outlook

The RSUs will be settled in stock or cash 90 days after Mr. Salerno's separation from service.

Industry Context

The granting of restricted stock units is a common practice for compensating directors in publicly traded companies, aligning their interests with shareholders.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice across many publicly listed companies, including those in the entertainment and media sector.
• Companies like Live Nation Entertainment and AMC Entertainment also use equity-based compensation for their board members.
• The vesting and settlement terms of these RSUs are typical, with settlement occurring after a separation from service.

Stakeholder Impact

• The grant of RSUs to a director aligns their interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates

Keywords

Restricted Stock Units, RSU, Director, Stock Plan, Equity Compensation, Madison Square Garden Entertainment Corp, MSGE, Beneficial Ownership