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

Reporting relationship: President
Issuer ticker: SPHR
Reported as of: 15 Sep 2021
Net transaction value: -$572,346
SEC form: 4
Accepted by SEC: 17 Sep 2021, 16:30:38 UTC
Prior SEC filing: 31 Aug 2021
Next SEC filing: 08 Mar 2022
Source filing: View source filing
Reporting owner signature: /s/ Emma Y. Barnett, Attorney-in-Fact for Andrew Lustgarten

Key filing fact

Andrew Lustgarten filed Form 4 for Madison Square Garden Entertainment Corp. (SPHR) on 17 Sep 2021.

Key facts

This page summarizes Andrew Lustgarten's Form 4 filing for Madison Square Garden Entertainment Corp. (SPHR).
12 reported transactions and 5 derivative rows are listed below.
Accepted by SEC: 17 Sep 2021, 16:30.

Change

Previous filing in this sequence was filed on 31 Aug 2021.
Current net transaction value: -$572,346.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SPHR transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +1,629
Change %: +29%
Price: $0.000000
Shares after: 7,321
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F1

SPHR transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +1,800
Change %: +25%
Price: $0.000000
Shares after: 9,121
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F2

SPHR transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +219
Change %: +2.4%
Price: $0.000000
Shares after: 9,340
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F3

SPHR transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +3,861
Change %: +41%
Price: $0.000000
Shares after: 13,201
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F4

SPHR transaction

Class A Common Stock

Tax liability

Transaction value: $346,676
Shares: -4,306
Change %: -33%
Price: $80.51
Shares after: 8,895
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F5

SPHR transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +4,885
Change %: +55%
Price: $0.000000
Shares after: 13,780
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F6

SPHR transaction

Class A Common Stock

Tax liability

Transaction value: $225,670
Shares: -2,803
Change %: -20%
Price: $80.51
Shares after: 10,977
Date: 15 Sep 2021
Ownership: Direct
Footnotes: F7

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SPHR transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -1,629
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,629
Exercise price
Footnotes: F1

SPHR transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -1,800
Change %: -50%
Price: $0.000000
Shares after: 1,800
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,800
Exercise price
Footnotes: F2

SPHR transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -219
Change %: -50%
Price: $0.000000
Shares after: 219
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 219
Exercise price
Footnotes: F3

SPHR transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -3,861
Change %: -33%
Price: $0.000000
Shares after: 7,722
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 3,861
Exercise price
Footnotes: F4

SPHR transaction Derivative

Performance Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -4,885
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Sep 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 4,885
Exercise price
Footnotes: F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.