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

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

Summary

• Paul Dolan, a director and trustee of a 13(d) group member at 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 and will be settled in stock or cash on the first business day 90 days after 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 equity compensation for a director, which is generally viewed positively as it aligns interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The immediate vesting of the RSUs indicates a commitment to the director's long-term involvement.

Future Outlook

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

Industry Context

This is a standard practice for compensating non-employee directors, aligning their interests with the company's performance and shareholder value.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among publicly traded companies, including those in the entertainment and media sector.
• Companies like Live Nation Entertainment and AMC Entertainment Holdings also use equity-based compensation for their board members.
• The vesting and settlement terms are typical, with full vesting upon grant and settlement after a separation from service.

Stakeholder Impact

• The grant of RSUs to a director is a positive signal to shareholders, indicating alignment of interests.
• The transaction has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

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