MSGE Insider Filing: RSU Settlements, Tax Withholding at $43.94 Per Share
Rhea-AI Filing Summary
Madison Square Garden Entertainment Corp. executive and EVP & General Counsel Laura Franco reported multiple restricted stock unit (RSU) transactions on 09/15/2025 for Class A Common Stock (MSGE). Several RSU grants vested and were settled for no cash purchase price: 1,246, 9,465, and 3,004 RSUs were reported as acquired (vesting settlements). Separately, 6,000 shares were withheld and disposed to satisfy tax withholding at a price of $43.94 per share. Following these entries (and a prior correction of an understatement of 45 shares), Ms. Franco beneficially owns 12,980 shares as reported.
Positive
- RSU vesting executed as scheduled, converting equity awards into shares on 09/15/2025
- Prior reporting error corrected (45-share understatement) improving disclosure accuracy
- Tax withholding handled through share withholding under standard procedures (Rule 16b-3 exemption)
Negative
- Net shares reduced by withholding: 6,000 shares disposed at $43.94 to satisfy tax obligations
- Concentrated insider holdings remain but form does not provide broader context on total ownership or potential dilution
Insights
TL;DR: Form 4 discloses routine RSU vesting, a tax-withholding sale, and a corrected prior reporting error.
The filing documents non-derivative settlement of RSUs that vested on 09/15/2025 and related withholding of 6,000 shares at $43.94 to satisfy taxes, a common practice under equity compensation plans and exempt under Rule 16b-3. The filing also corrects a prior typographical understatement of 45 shares. All transactions are documented with grant dates, vesting schedules, and resulting beneficial ownership counts, reducing procedural risk from reporting inaccuracies.
TL;DR: Multiple RSU settlements increased realized share holdings while tax-withholding reduced net shares; vesting schedules remain scheduled through 2027.
The disclosure shows RSUs granted in April and August 2024 with staggered vesting: portions vested and settled on 09/13/2024 and 09/15/2025, with remaining tranches scheduled for 09/15/2026 and 09/15/2027 depending on grant. The 6,000-share withholding at $43.94 is a standard net-share settlement to meet tax obligations and is explicitly noted as exempt under Rule 16b-3. The corrected 45-share understatement improves historical reporting accuracy.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,246 | $0.00 | -- |
| Exercise | Restricted Stock Units | 9,465 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,004 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,246 | $0.00 | -- |
| Exercise | Class A Common Stock | 9,465 | $0.00 | -- |
| Exercise | Class A Common Stock | 3,004 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 6,000 | $43.94 | $264K |
Footnotes (1)
- Each restricted stock unit ("RSU") was granted on April 24, 2024 under the Madison Square Garden Entertainment Corp. ("MSGE") 2023 Employee Stock Plan (the "2023 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 13, 2024. One-third of the RSUs vested and were settled on September 15, 2025. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2026. Each RSU was granted on April 24, 2024 under the 2023 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. 32% of the RSUs vested and were settled on September 13, 2024. 40% of the RSUs vested and were settled on September 15, 2025, 24% of the RSUs are scheduled to vest and settle on on September 15, 2026 and 4% on September 15, 2027. Each RSU was granted on August 27, 2024 under the 2023 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, 2025. One-third of the RSUs are scheduled to vest and settle on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027. Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footones 1, 2 and 3 above, exempt under Rule 16b-3. On the Reporting Person's Form 4 filed September 17, 2024, the number of shares of Class A Common Stock were understated by 45 shares due to an inadvertent typographical error when reporting the vesting and settlement of certain restricted stock units on September 13, 2024. The amount reflected here corrects that misstatement, after taking account of the transaction reported in this row of this Form 4.
