Scott S. Packman - Sep 15, 2021 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (SPHR)

Role: EVP & General Counsel
Signature: /s/ Emma Y. Barnett, Attorney-in-Fact for Scott S. Packman
Stock symbol: SPHR
Transactions as of: Sep 15, 2021
Transactions value $: -$103,697
Form type: 4
Date filed: 9/17/2021, 04:31 PM
Previous filing: Aug 31, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPHR	Class A Common Stock	Options Exercise	$0	+2.9K		$0.00	2.9K	Sep 15, 2021	Direct	F1
transaction	SPHR	Class A Common Stock	Tax liability	-$104K	-1.29K	-44.49%	$80.51	1.61K	Sep 15, 2021	Direct	F2

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	-2.9K	-33.33%	$0.00	5.79K	Sep 15, 2021	Class A Common Stock	2.9K		Direct	F1

* 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 August 25, 2020 under the Madison Square Garden Entertainment Corp. ("MSGE") 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, 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.
F2	Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnote 1, exempt under Rule 16b-3.

Content

Each restricted stock unit ("RSU") was granted on August 25, 2020 under the Madison Square Garden Entertainment Corp. ("MSGE") 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, 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.

Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnote 1, exempt under Rule 16b-3.