Form 4: Madison Square Garden Entertainment Corp. Reports Conversion of Townsquare Media Class C Common Stock to Class A Common Stock
SEC Form 4 Filing
Madison Square Garden Entertainment Corp. reports the conversion of 1,125,000 shares of Townsquare Media's Class C Common Stock to Class A Common Stock on March 1, 2024.
Summary
- On March 1, 2024, MSG National Properties, LLC, an indirect subsidiary of Madison Square Garden Entertainment Corp., converted 1,125,000 shares of Townsquare Media, Inc.'s Class C Common Stock to Class A Common Stock.
- Following the transaction, Madison Square Garden Entertainment Corp. indirectly holds 1,708,139 shares of Class A Common Stock through its subsidiary.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding a stock conversion, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice when significant changes in ownership occur, providing transparency to the market.
Stakeholder Impact
- The conversion of stock may have a minor impact on shareholders due to the change in the number of outstanding shares of each class.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of the transaction: conversion of Class C Common Stock to Class A Common Stock. |
| 03/05/2024 | Date of signature of the SEC Form 4 filing. |
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