Bryan Warner Reports 291 RSUs Vested; 117 MSGS Shares Sold at $210.95
Rhea-AI Filing Summary
Madison Square Garden Sports Corp. insider Bryan Warner, SVP & Head of Legal, reported vesting and settlement of restricted stock units (RSUs). On 09/15/2025, 291 RSUs vested and were settled, converting into 291 shares of Class A common stock; an additional 117 shares were disposed of at $210.95 each, leaving Mr. Warner with 174 shares after that sale. Following these transactions he beneficially owned 583 Class A shares in total. The RSUs were originally granted 04/23/2025 and vest in three annual tranches through 09/15/2027.
Positive
- RSU vesting completed for one tranche, converting 291 RSUs into shares, aligning executive compensation with long-term incentives
- Clear disclosure of withholding to satisfy tax obligations, noted as exempt under Rule 16b-3
Negative
- 117 shares disposed at $210.95, reducing immediate beneficial holding to 174 shares from the settled tranche
Insights
TL;DR: Executive received vested RSUs and sold a portion, reducing immediate shareholdings while retaining overall beneficial ownership.
The filing shows routine compensation vesting under the 2015 Employee Stock Plan with one-third of the grant settling on 09/15/2025. The sale of 117 shares at $210.95 appears to be a withholding or disposition related to tax obligations as noted; total reported beneficial ownership after transactions is 583 Class A shares. This is a typical Section 16 disclosure of compensation-related equity activity rather than a market-timing trade.
TL;DR: Transactions reflect standard equity compensation administration with scheduled vesting and tax withholding; no governance red flags disclosed.
Details indicate the RSUs were granted on 04/23/2025 and vest in three equal installments on 09/15 of 2025, 2026, and 2027. The filing explains that some RSUs were withheld to satisfy tax obligations, consistent with Rule 16b-3 exemptions. The signature by an attorney-in-fact is properly recorded. No departure from normal insider reporting or governance procedures is evident from the form.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 291 | $0.00 | -- |
| Exercise | Class A Common Stock | 291 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 117 | $210.95 | $25K |
Footnotes (1)
- Each restricted stock unit ("RSU") was granted on April 23, 2025 under the Madison Square Garden Sports Corp. ("MSGS") 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 footnote 1, exempt under Rule 16b-3.
