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

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

Summary

• Martin Bandier, 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. Bandier's separation from service.
• Following this transaction, Mr. Bandier directly owns 12,989 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting stock units to a director, which is generally viewed as a positive sign of aligning interests. There are no negative implications.

Positives

• The grant of RSUs to a director aligns their interests with the company's performance.
• The immediate vesting of the RSUs may incentivize the director to remain engaged with the company.

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 the interests of directors with those of shareholders.

Comparison to Industry Standards

• Granting restricted stock units to non-employee directors is a standard practice across many publicly traded companies.
• The vesting schedule of immediate vesting is not uncommon, but some companies may use a phased vesting schedule over a period of time.
• The settlement of RSUs in either stock or cash is also a common practice, providing flexibility to both the company and the recipient.

Stakeholder Impact

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

Key Dates

Keywords

Restricted Stock Units, RSU, Director, Stock Plan, Equity Compensation, Madison Square Garden Entertainment Corp, MSGE, Class A Common Stock, Vesting