Andrew Lustgarten - 15 Sep 2021 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (SPHR)

Role
President
Signature
/s/ Emma Y. Barnett, Attorney-in-Fact for Andrew Lustgarten
Issuer symbol
SPHR
Transactions as of
15 Sep 2021
Net transactions value
-$572,346
Form type
4
Filing time
17 Sep 2021, 16:30:38 UTC
Previous filing
31 Aug 2021
Next filing
08 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPHR Class A Common Stock Options Exercise $0 +1,629 +29% $0.000000 7,321 15 Sep 2021 Direct F1
transaction SPHR Class A Common Stock Options Exercise $0 +1,800 +25% $0.000000 9,121 15 Sep 2021 Direct F2
transaction SPHR Class A Common Stock Options Exercise $0 +219 +2.4% $0.000000 9,340 15 Sep 2021 Direct F3
transaction SPHR Class A Common Stock Options Exercise $0 +3,861 +41% $0.000000 13,201 15 Sep 2021 Direct F4
transaction SPHR Class A Common Stock Tax liability $346,676 -4,306 -33% $80.51 8,895 15 Sep 2021 Direct F5
transaction SPHR Class A Common Stock Options Exercise $0 +4,885 +55% $0.000000 13,780 15 Sep 2021 Direct F6
transaction SPHR Class A Common Stock Tax liability $225,670 -2,803 -20% $80.51 10,977 15 Sep 2021 Direct F7

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 SPHR Restricted Stock Units Options Exercise $0 -1,629 -100% $0.000000* 0 15 Sep 2021 Class A Common Stock 1,629 Direct F1
transaction SPHR Restricted Stock Units Options Exercise $0 -1,800 -50% $0.000000 1,800 15 Sep 2021 Class A Common Stock 1,800 Direct F2
transaction SPHR Restricted Stock Units Options Exercise $0 -219 -50% $0.000000 219 15 Sep 2021 Class A Common Stock 219 Direct F3
transaction SPHR Restricted Stock Units Options Exercise $0 -3,861 -33% $0.000000 7,722 15 Sep 2021 Class A Common Stock 3,861 Direct F4
transaction SPHR Performance Restricted Stock Units Options Exercise $0 -4,885 -100% $0.000000* 0 15 Sep 2021 Class A Common Stock 4,885 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") was granted on April 17, 2020 under the Madison Square Garden Entertainment Corp. ("MSGE") 2020 Employee Stock Plan (the "2020 Employee Stock Plan") in respect of an RSU granted by Madison Square Garden Sports Corp. ("MSGS") on August 29, 2018 and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. Half of the RSUs vested and were settled on September 15, 2020. The remaining half of the RSUs vested and were settled on September 15, 2021.
F2 Each RSU was granted on April 17, 2020 under the 2020 Employee Stock Plan in respect of an RSU granted by MSGS on August 29, 2019 and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2020. One-third of the RSUs vested were settled on September 15, 2021. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2022.
F3 Each RSU was granted on May 21, 2020 under the 2020 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2020. One-third of the RSUs vested were settled on September 15, 2021. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2022.
F4 Each RSU was granted on August 25, 2020 under the 2020 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested were settled on September 15, 2021. The remaining two-thirds of the RSUs are scheduled to vest and settle in two equal installments on September 15, 2022 and September 15, 2023.
F5 Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 2, 3 and 4, exempt under Rule 16b-3.
F6 Each performance restricted stock unit ("PSU") was granted on April 17, 2020 under the 2020 Employee Stock Plan in respect of a PSU granted by MSGS on August 29, 2018 and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The performance conditions were satisfied on August 27, 2021. The PSUs vested and were settled on September 15, 2021.
F7 Represents PSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of PSUs described in footnote 6, exempt under Rule 16b-3.