Bret Richter - Jul 9, 2021 Form 4 Insider Report for MSG NETWORKS INC. (MSGN)

Role
EVP, CFO & Treasurer
Signature
/s/ Mark C. Cresitello, Attorney-in-Fact for Bret Richter
Stock symbol
MSGN
Transactions as of
Jul 9, 2021
Transactions value $
$0
Form type
4
Date filed
7/13/2021, 04:41 PM
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSGN Class A Common Stock Disposed to Issuer -91.7K -100% 0 Jul 9, 2021 Direct F1
transaction MSGN Class A Common Stock Disposed to Issuer -100 -100% 0 Jul 9, 2021 By member of household F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MSGN Restricted Stock Units Disposed to Issuer -58.5K -100% 0 Jul 9, 2021 Class A Common Stock 58.5K Direct F3, F4, F5
transaction MSGN Restricted Stock Units Disposed to Issuer -23.8K -100% 0 Jul 9, 2021 Class A Common Stock 23.8K Direct F3, F4, F6
transaction MSGN Restricted Stock Units Disposed to Issuer -8.43K -100% 0 Jul 9, 2021 Class A Common Stock 8.43K Direct F3, F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Bret Richter is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents shares of Class A Common Stock of MSG Networks Inc. ("MSGN") disposed of as a result of the conversion of MSGN Class A Common Stock to Class A Common Stock of Madison Square Garden Entertainment Corp. ("MSGE") pursuant to the closing of the merger contemplated by the Agreement and Plan of Merger, dated as of March 25, 2021, by and among MSGE, Broadway Sub Inc. and MSGN (the "Merger"), a transaction exempt under Rule 16b-3, calculated based on (x) the number of shares of MSGN Class A Common Stock multiplied by (y) 0.172, and rounded up to the next whole share. On July 8, 2021 (the day prior to the Merger), the closing price of one share of MSGE Class A Common Stock was $82.28.
F2 Reporting Person disclaim beneficial ownership of the securities of MSGN beneficially owned and deemed to be beneficially owned by members of his household and this filing shall not be deemed an admission that Reporting Person is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
F3 Each MSGN restricted stock unit represented a right to receive one share of MSGN Class A Common Stock or the cash equivalent thereof.
F4 Represents MSGN restricted stock units ("MSGN RSUs") disposed of as a result of the conversion of MSGN RSUs to MSGE restricted stock units pursuant to the closing of the Merger, a transaction exempt under Rule 16b-3, calculated based on (x) the number of shares of MSGN Class A Common Stock subject to such MSGN RSUs, multiplied by (y) 0.172.
F5 The MSGN RSUs were scheduled to vest and settle in equal installments on September 15, 2021, September 15, 2022 and September 15, 2023.
F6 The MSGN RSUs were scheduled to vest and settle in equal installments on September 15, 2021 and September 15, 2022.
F7 The MSGN RSUs were scheduled to vest and settle on September 15, 2021.