Madison Square Garden Sports Form 4: Officer RSUs/PSUs Vested and Settled
Rhea-AI Filing Summary
Alexander Shvartsman, SVP, Controller & PAO of Madison Square Garden Sports Corp. (MSGS), reported multiple equity compensation transactions tied to vested restricted stock units (RSUs) and performance restricted stock units (PSUs). RSUs granted in 2022, 2023 and 2024 vested and were settled during the reporting period for 343, 278 and 274 shares respectively. A PSU grant from 2022 satisfied performance conditions and vested for 1,096 shares. The filing shows shares withheld to satisfy tax obligations (reported as 321 and 395 shares). The table reports the number of Class A shares beneficially owned after each transaction, with reported amounts shown up to 6,351 shares; each transaction is reported as direct ownership.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine executive compensation vesting; no indications of trading beyond settlement and tax withholding.
The Form 4 documents standard settlement of equity awards: time-based RSUs from 2022–2024 and a 2022 PSU that met performance criteria and settled. The transactions are primarily settlements and tax-withholding events, recorded as direct beneficial ownership changes. From an investor-impact perspective, these are compensation-related movements rather than market-driven buys or sales and are unlikely to materially affect MSGS share supply or valuation given the modest share counts disclosed.
TL;DR: Compensation program operating as intended; vesting and tax withholdings are documented and exempt under Rule 16b-3.
The filing confirms the company’s equity incentive plan functioning per schedule: staged vesting for RSUs and performance-based PSUs that achieved vesting conditions. The disclosure notes withholding of shares to cover taxes and explicitly cites Rule 16b-3 exemption for those withholdings. Documentation appears complete for these award settlements and aligns with standard governance practices for executive remuneration.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 343 | $0.00 | -- |
| Exercise | Restricted Stock Units | 278 | $0.00 | -- |
| Exercise | Restricted Stock Units | 274 | $0.00 | -- |
| Exercise | Performance Restricted Stock Units | 1,096 | $0.00 | -- |
| Exercise | Class A Common Stock | 343 | $0.00 | -- |
| Exercise | Class A Common Stock | 278 | $0.00 | -- |
| Exercise | Class A Common Stock | 274 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 321 | $210.95 | $68K |
| Exercise | Class A Common Stock | 1,096 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 395 | $210.95 | $83K |
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. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 2 and 3, exempt under Rule 16b-3. Each performance restriced stock unit ("PSU") was granted on August 29, 2022 under the Madison Square Garden Sports Corp. 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 5 above, exempt under Rule 16b-3.
