Form 4: Ryan Dolan Reports Stock Transactions in Madison Square Garden Entertainment Corp.
SEC Form 4
Director Ryan Dolan reports the vesting and settlement of restricted stock units and performance restricted stock units, along with associated tax withholding, resulting in changes to his beneficial ownership of Madison Square Garden Entertainment Corp. Class A Common Stock.
Summary
- On September 13, 2024, Ryan Dolan, a director of Madison Square Garden Entertainment Corp. (MSGE), reported transactions involving Class A Common Stock.
- These transactions included the vesting and settlement of restricted stock units (RSUs) and performance restricted stock units (PSUs).
- Specifically, 146 RSUs from a 2021 grant and 165 RSUs from a 2022 grant vested and were settled.
- Additionally, 438 PSUs from a 2021 grant vested and were settled after performance conditions were met on August 27, 2024.
- A portion of the shares were withheld to satisfy tax obligations, with 110 shares withheld for RSUs and 156 shares withheld for PSUs, both at a price of $40.29.
- Following these transactions, Dolan's direct ownership of Class A Common Stock is reported as 2,144 shares.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Positives
- The vesting of RSUs and PSUs indicates that Dolan is receiving compensation in the form of company stock.
- The performance conditions being met for the PSUs suggests positive performance related to the grant.
Negatives
- The disposal of shares to cover tax obligations reduces Dolan's overall holdings in MSGE.
Risks
- There are no specific risks mentioned in this document, as it primarily reports stock transactions.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It doesn't provide specific insights into MSGE's competitive position or broader industry trends.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in Dolan's holdings.
- Employees may be interested in the vesting of RSUs and PSUs as it relates to their own compensation.
Key Dates
| Date | Description |
|---|---|
| August 27, 2021 | Date of original RSU grant by Shere Entertainment Co. (SPHR) in respect of which RSUs and PSUs were granted on April 20, 2023. |
| August 31, 2022 | Date of original RSU grant by Shere Entertainment Co. (SPHR) in respect of which RSUs were granted on April 20, 2023. |
| April 20, 2023 | Date of RSU and PSU grants under the Madison Square Garden Entertainment Corp. 2023 Employee Stock Plan. |
| September 15, 2023 | One-half of the RSUs granted on August 27, 2021 vested and were settled. |
| August 27, 2024 | Performance conditions were satisfied for the PSUs granted on April 20, 2023. |
| September 13, 2024 | Date of reported transactions: vesting and settlement of RSUs and PSUs. |
| September 15, 2025 | Remaining one-third of the RSUs granted on August 31, 2022 are scheduled to vest and settle. |
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