Brian Sweeney - Jul 9, 2021 Form 4 Insider Report for MSG NETWORKS INC. (MSGN)

Role
Director
Signature
/s/ Brian G. Sweeney
Stock symbol
MSGN
Transactions as of
Jul 9, 2021
Transactions value $
$0
Form type
4
Date filed
7/13/2021, 04:56 PM
Previous filing
Jun 21, 2021
Next filing
Dec 10, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSGN Class A Common Stock Disposed to Issuer -27.1K -100% 0 Jul 9, 2021 Direct F1, F2
transaction MSGN Class A Common Stock Disposed to Issuer -20.6K -100% 0 Jul 9, 2021 By Spouse F1, F3
transaction MSGN Class A Common Stock Disposed to Issuer -6.75K -100% 0 Jul 9, 2021 By Trusts F1, F4

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 -56K -100% 0 Jul 9, 2021 Class A Common Stock 56K Direct F2, F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Brian Sweeney is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents shares of Class A Common Stock of MSG Networks Inc. ("MSGN") disposed of as a result of the conversion of MSGN Class A Common Stock to Class A Common Stock of Madison Square Garden Entertainment Corp. ("MSGE") 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 multiplied by (y) 0.172, and rounded up to the next whole share. On July 8, 2021 (the day prior to the Merger), the closing price of one share of MSGE Class A Common Stock was $82.28.
F2 Securities held directly by Brian G. Sweeney, Deborah A. Dolan-Sweeney's spouse. Ms. Dolan-Sweeney disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Mr. Sweeney (other than securities in which she has a direct pecuniary interest) and this report shall not be deemed to be an admission that she is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
F3 Securities held directly by Deborah A. Dolan-Sweeney, Brian G. Sweeney's, spouse. Mr. Sweeney disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Ms. Deborah A. Dolan-Sweeney (other than securities in which he has a direct pecuniary interest) and this report shall not be deemed to be an admission that he is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
F4 Securities held in trusts for which Mr. Sweeney serves as co-trustee. Both he and Ms. Dolan-Sweeney disclaim beneficial ownership of these securities and this report shall not be deemed to be an admission that they are, for the purposes of Section 16 or for any other purpose, the beneficial owners of such securities.
F5 Each MSGN restricted stock unit represented a right to receive one share of MSGN Class A Common Stock or the cash equivalent thereof.
F6 Represents MSGN restricted stock units ("MSGN RSUs") disposed as a result of the conversion of MSGN RSUs to MSGE restricted stock units pursuant to the closing of the Merger, a transaction exempt under Rule 16b-3, based on (x) the total number of shares of MSGN Class A Common Stock subject to such MSGN RSUs, multiplied by (y) 0.172.
F7 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.