Andrew Lustgarten - 31 Mar 2023 Form 4 Insider Report for Madison Square Garden Sports Corp. (MSGS)

Role
Director
Signature
/s/ Mark C. Cresitello, Attorney-in-Fact for Andrew Lustgarten
Issuer symbol
MSGS
Transactions as of
31 Mar 2023
Net transactions value
-$2,457,253
Form type
4
Filing time
04 Apr 2023, 17:15:26 UTC
Previous filing
19 Sep 2022
Next filing
27 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSGS Class A Common Stock Options Exercise $0 +3,435 +21% $0.000000 19,942 31 Mar 2023 Direct F1
transaction MSGS Class A Common Stock Options Exercise $0 +6,890 +35% $0.000000 26,832 31 Mar 2023 Direct F2
transaction MSGS Class A Common Stock Options Exercise $0 +1,334 +5% $0.000000 28,166 31 Mar 2023 Direct F3
transaction MSGS Class A Common Stock Options Exercise $0 +12,439 +44% $0.000000 40,605 31 Mar 2023 Direct F4
transaction MSGS Class A Common Stock Tax liability $2,457,253 -12,611 -31% $194.85 27,994 31 Mar 2023 Direct F5
holding MSGS Class A Common Stock 6,000 31 Mar 2023 BY LLC F6

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 MSGS Restricted Stock Units Options Exercise $0 -3,435 -100% $0.000000* 0 31 Mar 2023 Class A Common Stock 3,435 Direct F1
transaction MSGS Restricted Stock Units Options Exercise $0 -6,890 -100% $0.000000* 0 31 Mar 2023 Class A Common Stock 6,890 Direct F2
transaction MSGS Restricted Stock Units Options Exercise $0 -1,334 -100% $0.000000* 0 31 Mar 2023 Class A Common Stock 1,334 Direct F3
transaction MSGS Restricted Stock Units Options Exercise $0 -12,439 -100% $0.000000* 0 31 Mar 2023 Class A Common Stock 12,439 Direct F4
* 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 27, 2020 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 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. One-third of the RSUs vested and were settled on September 15, 2022. The remaining one-third of the RSUs vested on January 1, 2023 and were settled on March 31, 2023.
F2 Each RSU was granted on August 19, 2021 under the 2015 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, 2022. The remaining two-thirds of the RSUs vested on January 1, 2023 and were settled on March 31, 2023.
F3 Each RSU was granted on April 25, 2022 under the 2015 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, 2022. The remaining two-thirds of the RSUs vested on January 1, 2023 and were settled on March 31, 2023.
F4 Each RSU was granted on August 29,2022 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The RSUs vested on January 1, 2023 and were settled on March 31, 2023.
F5 Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1,2,3 and 4 above, exempt under Rule 16b-3.
F6 The reporting person has direct pecuniary interest in 1,938 shares. The reporting person disclaims beneficial ownership of 4,062 shares of which he does not have a pecuniary interest.

Remarks:

Andrew Lustgarten ceased being an employee of the Issuer on January 1, 2023 and joined the Issuer's Board of Directors on the same day.