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

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

Summary

• Ryan Thomas 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 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting stock units to a director, which is a normal part of corporate compensation. There is no indication of any negative or positive sentiment beyond the standard practice.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• 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 Mr. Dolan'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 the shareholders.

Comparison to Industry Standards

• Granting restricted stock units to non-employee directors is a standard practice across many publicly traded companies, including those in the entertainment and media sectors.
• Companies like Live Nation Entertainment and AMC Entertainment also use equity-based compensation for their directors.
• The vesting terms of these grants are generally similar, with full vesting upon grant or over a period of time, often tied to continued service.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders, which is generally positive for shareholders.

Key Dates

Keywords

Restricted Stock Units, RSU, Director, Stock Plan, Beneficial Ownership, Class A Common Stock, Equity Compensation, Madison Square Garden Entertainment Corp.