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

Charles P. Dolan, a director at Madison Square Garden Entertainment Corp., acquired 4,353 restricted stock units on December 11, 2024.

Summary

• Charles P. Dolan, 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. Dolan's separation from service.
• Following this transaction, Mr. Dolan directly owns 12,989 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting stock units to a director, which is generally viewed as a neutral to slightly positive event for the company's governance.

Positives

• The grant of RSUs to a director aligns their interests with the company's performance.
• The vesting of the RSUs on the grant date is a positive for the director.

Future Outlook

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

Industry Context

The granting of restricted stock units to directors is a common practice in corporate governance to align their interests with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice across many publicly traded companies.
• The vesting terms of these RSUs are typical, with full vesting upon grant and settlement after a separation from service.
• Many companies use similar stock plans to incentivize and retain board members, such as those seen at Live Nation Entertainment and other entertainment companies.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of shareholders.
• The transaction has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Restricted Stock Units, RSU, Director, Stock Plan, Equity, Madison Square Garden Entertainment Corp, MSGE, Class A Common Stock, Beneficial Ownership, SEC Form 4