Victoria Mink reports RSU/PSU settlements; 3,723 shares withheld at $210.95
Rhea-AI Filing Summary
Victoria Mink, EVP, CFO & Treasurer of Madison Square Garden Sports Corp. (MSGS), reported multiple equity settlements and withholdings tied to vested restricted stock units (RSUs) and performance RSUs (PSUs) on 09/15/2025. Several tranches of RSUs granted in 2022, 2023, 2024 and April 2025 vested and were settled into Class A common shares on or about 09/15/2025, including 1,244; 1,011; 998; and 131 RSUs, plus 3,983 PSUs whose performance conditions were satisfied on 08/21/2025. The filing shows two separate withholdings to satisfy tax obligations of 1,726 and 1,997 shares sold at $210.95 per share, identified as exempt under Rule 16b-3.
The transactions reflect standard equity compensation vesting and tax withholding mechanics rather than open-market purchases or discretionary sales by the reporting person.
Positive
- Multiple RSU and PSU tranches vested and were settled, converting awarded units into Class A common shares and reflecting earned compensation.
- Withholding transactions executed under Rule 16b-3 to satisfy tax obligations, indicating compliance with insider transaction exemptions and plan mechanics.
- PSU performance conditions were satisfied on 08/21/2025 leading to settlement, demonstrating achievement of the specified performance metric(s) for that grant.
Negative
- None.
Insights
TL;DR Multiple RSU/PSU tranches vested and were settled; tax-withholding shares were sold at $210.95 per share.
The filing documents routine executive compensation settlements occurring on 09/15/2025. Material elements include the vesting and settlement of legacy RSUs granted in 2022, 2023 and 2024 and the satisfaction of PSU performance conditions on 08/21/2025 leading to settlement on 09/15/2025. Two withholdings totaling 3,723 shares were effected to satisfy tax obligations at a reported price of $210.95 per share; the withholdings are noted as exempt under Rule 16b-3. These events change the insider's reported share counts through conversion of equity awards rather than through discretionary market trades.
TL;DR Transactions appear to follow standard equity-plan rules and Rule 16b-3 exempt withholding; no governance red flags shown.
The Form 4 shows vesting schedules applied as disclosed in grant footnotes and withholding to cover related tax liabilities. Footnotes detail original grant dates, vesting schedules and the PSU performance vesting date, which supports transparency around timing and exemption claims. The presence of attorney-in-fact signature indicates authorized filing. There is no indication in this filing of unusual related-party transfers or departures from plan terms.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,244 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,011 | $0.00 | -- |
| Exercise | Restricted Stock Units | 998 | $0.00 | -- |
| Exercise | Restricted Stock Units | 131 | $0.00 | -- |
| Exercise | Performance Restricted Stock Units | 3,983 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,244 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,011 | $0.00 | -- |
| Exercise | Class A Common Stock | 998 | $0.00 | -- |
| Exercise | Class A Common Stock | 131 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 1,726 | $210.95 | $364K |
| Exercise | Class A Common Stock | 3,983 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 1,997 | $210.95 | $421K |
Footnotes (1)
- Each restricted stock unit ("RSU") was granted on August 29, 2022 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, 2023. One-third of the RSUs vested and were settled on September 13, 2024. The remaining one-third of the RSUs vested and were settled on September 15, 2025. Each RSU was granted on August 28, 2023 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 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 August 29, 2024 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, 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. Each RSU was granted on April 23, 2025 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, 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 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. Each performance restriced stock unit ("PSU") 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 performance conditions were satisfied on August 21, 2025 and the PSUs vested and were settled on September 15, 2025. Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 6 above, exempt under Rule 16b-3.
