Form 4: Madison Square Garden Sports Corp. Director Lustgarten Acquires Performance Restricted Stock Units

Director Andrew Lustgarten acquired performance restricted stock units (PSUs) that vested on August 29, 2024, and are scheduled to settle on November 27, 2024, into Class A Common Stock.

Summary

• Andrew Lustgarten, a director of Madison Square Garden Sports Corp., acquired performance restricted stock units (PSUs) on August 29, 2024.
• These PSUs vested on August 29, 2024, after the performance conditions were met.
• A total of 11,296 PSUs granted on August 19, 2021, and 2,188 PSUs granted on April 25, 2022, were acquired.
• Each PSU represents the right to receive one share of Class A Common Stock or the cash equivalent.
• The PSUs are scheduled to settle on November 27, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a standard executive compensation transaction. The vesting of PSUs suggests performance targets were met, which is mildly positive.

Positives

• The vesting of performance restricted stock units indicates that performance conditions were met, which could be viewed positively.

Future Outlook

The PSUs are scheduled to settle on November 27, 2024, resulting in the issuance of Class A Common Stock or cash equivalent.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Stakeholder Impact

• The transaction could have a minor impact on shareholders due to the potential dilution from the issuance of new shares.

Next Steps

• The PSUs will settle on November 27, 2024, resulting in the issuance of Class A Common Stock or cash equivalent.

Key Dates