SEC Form 4 · accession 0001209191-15-075742
Madison Square Garden Sports Corp. · MSGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence J. Burian
Officer — EVP, GC & Secretary
Period of report
Oct 14, 2015
Accepted (ET)
Oct 16, 2015 · 4:38 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001636519
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F4 | — | Oct 14, 2015 | J | 3,136 | A | — | Sep 11, 2018 | Class A Common Stock | 3,136 | 3,136 | D |
Explanation of responses
- F1Each restricted stock unit is granted under The Madison Square Garden Company 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.
- F2Reflects acquisition of restricted stock units in connection with distribution by MSG Networks Inc. (formerly, The Madison Square Garden Company, and referred to herein as "MSG Networks") of all of the outstanding common stock of The Madison Square Garden Company (formerly, MSG Spinco, Inc., and referred to herein as "MSG") to its stockholders (the "Distribution") in a transaction exempt under Rules 16a-9 or 16b-6 and 16b-3. The number of restricted stock units represents a value equal to 70% of the value of the MSG Networks award at the time of the Distribution. The remainder of the footnote is continued in footnote (3) below.
- F3The value of the MSG restricted stock units and MSG Networks restricted stock units was based upon the volume weighted average prices of the MSG Class A Common Stock over the ten trading days immediately following the Distribution, and MSG Networks Class A Common Stock over the ten trading days immediately preceding the Distribution. Each restricted stock unit is granted under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.
- F4The restricted stock units are scheduled to vest in three equal installments on September 11, 2016, September 11, 2017 and September 11, 2018, subject to the achievement of certain performance measures.