Form 4: Madison Square Garden Sports Corp. Director Andrew Lustgarten Reports Share Transactions

Director Andrew Lustgarten of Madison Square Garden Sports Corp. reports the vesting and settlement of performance restricted stock units and associated tax withholdings.

Summary

• Andrew Lustgarten, a director at Madison Square Garden Sports Corp., reported transactions involving Class A Common Stock.
• These transactions include the vesting and settlement of performance restricted stock units (PSUs) granted in 2021 and 2022.
• A total of 11,296 PSUs from the 2021 grant and 2,188 PSUs from the 2022 grant were settled on November 27, 2024.
• The settlement of these PSUs resulted in the acquisition of 13,484 shares of Class A Common Stock.
• Additionally, 7,455 shares were withheld to cover tax obligations related to the vesting of the PSUs at a price of $229.11 per share.
• After these transactions, Lustgarten directly owns 38,924 shares and indirectly owns 6,000 shares through an LLC.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects the expected vesting of performance-based compensation and increased share ownership by a director.

Positives

• The vesting of performance restricted stock units indicates that performance goals were met.
• The director's increased shareholding aligns his interests with those of other shareholders.

Negatives

• The sale of 7,455 shares to cover tax obligations could be seen as a slight negative, although it is a standard practice.

Risks

• There are no specific risks mentioned in this document, as it primarily details share transactions.

Industry Context

This filing is a routine disclosure of share transactions by a company director, which is common in publicly traded companies.

Comparison to Industry Standards

• The vesting and settlement of performance restricted stock units are standard compensation practices for executives and directors in publicly traded companies.
• Similar transactions are regularly reported by directors and officers of comparable companies such as Liberty Media and other sports and entertainment businesses.

Stakeholder Impact

• The increased share ownership by a director could be viewed positively by shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Madison Square Garden Sports Corp, MSGS, Andrew Lustgarten, Performance Restricted Stock Units, Class A Common Stock, Share Transactions, Director