Joel M. Litvin - Jul 9, 2021 Form 4 Insider Report for MSG NETWORKS INC. (MSGN)

Role
Director
Signature
/s/ Mark C. Cresitello, Attorney-in-Fact for Joel M. Litvin
Stock symbol
MSGN
Transactions as of
Jul 9, 2021
Transactions value $
$0
Form type
4
Date filed
7/13/2021, 04:37 PM
Next filing
Dec 14, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MSGN Restricted Stock Units Disposed to Issuer -38.4K -100% 0 Jul 9, 2021 Class A Common Stock 38.4K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Joel M. Litvin is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each MSG Networks Inc. ("MSGN") restricted stock unit represented a right to receive one share of MSGN Class A Common Stock or the cash equivalent thereof.
F2 Represents MSGN restricted stock units ("MSGN RSUs") disposed of as a result of the conversion of MSGN RSUs to Madison Square Garden Entertainment Corp. ("MSGE") restricted stock units pursuant to the closing of the merger contemplated by the Agreement and Plan of Merger, dated as of March 25, 2021, by and among MSGE, Broadway Sub Inc. and MSGN (the "Merger"), a transaction exempt under Rule 16b-3, calculated based on (x) the number of shares of MSGN Class A Common Stock subject to such MSGN RSUs, multiplied by (y) 0.172.
F3 The MSGN RSUs were fully vested on the date of grant and, prior to the Merger, would have been settled in stock or in cash on the first business day 90 days after service on the Board of Directors ceased.