Form 4: James Dolan Reports Stock Transactions in Madison Square Garden Sports Corp.

Executive Chairman and CEO James Dolan reports the vesting and settlement of restricted stock units and performance restricted stock units, resulting in changes in his beneficial ownership of Madison Square Garden Sports Corp. Class A Common Stock.

Summary

• On September 13, 2024, James L. Dolan, Executive Chairman and CEO of Madison Square Garden Sports Corp. (MSGS), reported transactions involving Class A Common Stock.
• These transactions involved the vesting and settlement of restricted stock units (RSUs) and performance restricted stock units (PSUs) under the company's 2015 Employee Stock Plan.
• The RSUs were granted on August 19, 2021, April 25, 2022, August 29, 2022, and August 28, 2023, with vesting occurring in stages.
• The PSUs were granted on August 19, 2021, and April 25, 2022, with performance conditions satisfied on August 29, 2024, and subsequent vesting and settlement on September 13, 2024.
• A portion of the shares were withheld to satisfy tax obligations.
• Following these transactions, Dolan directly owns 183,203 shares of Class A Common Stock and indirectly owns 10,192 shares through his spouse and 491 shares through his minor children.
• Dolan disclaims beneficial ownership of the shares held by his spouse and minor children, except for those in which he has a direct pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but the vesting of performance-based units suggests that performance targets were met, which is mildly positive.

Positives

• The vesting of RSUs and PSUs indicates that performance targets were met, which could be seen as a positive sign for the company's performance.
• The increased holdings of Class A Common Stock by the CEO demonstrates his continued investment in the company.

Management Comments

• Mr. Dolan disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Ms. Dolan (other than securities in which he has a direct pecuniary interest) and this report shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
• Mr. Dolan disclaims beneficial ownership of all securities of the Issuer beneficially owned and deemed to be beneficially owned by his minor children and this filing shall not be deemed an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of key company personnel.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
• Employees who are part of the stock plan may be affected by the vesting and settlement of RSUs and PSUs.

Key Dates