Form 4: Charles F. Dolan Reports Acquisition of Restricted Stock Units in Madison Square Garden Sports Corp.

Charles F. Dolan, a director and member of a 13(d) group, acquired 709 restricted stock units in Madison Square Garden Sports Corp.

Summary

• Charles F. Dolan, a director and member of a 13(d) group at Madison Square Garden Sports Corp., reported the acquisition of 709 restricted stock units (RSUs).
• These RSUs were granted under the company's 2015 Stock Plan for Non-Employee Directors.
• Each RSU represents the right to receive one share of Class A Common Stock or its cash equivalent.
• The RSUs are fully vested on the grant date, December 4, 2024, and will be settled in stock or cash approximately 90 days after separation from service.
• Following this transaction, Mr. Dolan beneficially owns 6,774 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, indicating a positive alignment of interests between the director and the company. There are no negative implications.

Positives

• The acquisition of RSUs indicates continued alignment of interests between the director and the company.
• The vesting of the RSUs on the grant date suggests immediate value for the recipient.

Future Outlook

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

Industry Context

This is a standard transaction for a director of a publicly traded company, often used as part of compensation and incentive programs.

Comparison to Industry Standards

• The use of restricted stock units as part of director compensation is a common practice among publicly traded companies.
• Many companies in the sports and entertainment industry use similar equity-based compensation plans to align the interests of directors and shareholders.
• The vesting terms of the RSUs are typical, with full vesting on the grant date and settlement upon separation from service.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's performance.

Key Dates

Keywords

Restricted Stock Units, RSU, Stock Plan, Beneficial Ownership, Form 4, Madison Square Garden Sports Corp, MSGS, Charles F. Dolan, Director, 13(d) Group