Sphere Entertainment Co. - Jun 27, 2023 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (MSGE)

Role
10%+ Owner
Signature
/s/ Mark C. Cresitello, Secretary of Sphere Entertainment Co.
Stock symbol
MSGE
Transactions as of
Jun 27, 2023
Transactions value $
-$204,675,977
Form type
4
Date filed
6/29/2023, 04:05 PM
Previous filing
Apr 21, 2023
Next filing
Aug 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSGE Class A Common Stock, par value $0.01 per share Sale -$25M -840K -4.94% $29.76 16.2M Jun 27, 2023 By Subsidiary F1
transaction MSGE Class A Common Stock, par value $0.01 per share Sale -$180M -6.04M -37.31% $29.76 10.1M Jun 27, 2023 By Subsidiary F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 27, 2023, Sphere Entertainment Group, LLC (the "Shareholder"), a direct subsidiary of Sphere Entertainment Co. and the direct holder of Class A Common Stock, par value $0.01 per share ("Class A Common Stock"), of Madison Square Garden Entertainment Corp. (the "Issuer"), sold 840,053 shares of Class A Common Stock back to the Issuer at a per share price of $29.76 USD pursuant to the Stock Purchase Agreement, dated June 21, 2023, by and between the Issuer and the Shareholder.
F2 On June 27, 2023, the Shareholder sold 6,037,500 shares of Class A Common Stock of the Issuer in an underwritten public offering at a per share price of $29.76 pursuant to the Underwriting Agreement, dated June 22, 2023, by and among the Issuer, the Shareholder and the the representatives of the underwriters party thereto, which includes the exercise in full of the underwriters' option to purchase additional shares. The public offering price in the underwritten public offering was $31.00 per share.