Lawrence J. Burian - Sep 15, 2021 Form 4 Insider Report for Madison Square Garden Sports Corp. (MSGS)

Role: EVP, Corp. Development & GC
Signature: /s/ Mark C. Cresitello, Attorney-in-Fact for Lawrence J. Burian
Stock symbol: MSGS
Transactions as of: Sep 15, 2021
Transactions value $: -$511,746
Form type: 4
Date filed: 9/17/2021, 04:33 PM
Previous filing: Aug 31, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+760	+9.18%	$0.00	9.04K	Sep 15, 2021	Direct	F1
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+840	+9.3%	$0.00	9.88K	Sep 15, 2021	Direct	F2
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+1.46K	+14.75%	$0.00	11.3K	Sep 15, 2021	Direct	F3
transaction	MSGS	Class A Common Stock	Tax liability	-$293K	-1.62K	-14.32%	$180.51	9.71K	Sep 15, 2021	Direct	F4
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+2.28K	+23.48%	$0.00	12K	Sep 15, 2021	Direct	F5
transaction	MSGS	Class A Common Stock	Tax liability	-$219K	-1.21K	-10.11%	$180.51	10.8K	Sep 15, 2021	Direct	F6

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	MSGS	Restricted Stock Units	Options Exercise	$0	-760	-100%	$0.00^*	0	Sep 15, 2021	Class A Common Stock	760		Direct	F1
transaction	MSGS	Restricted Stock Units	Options Exercise	$0	-840	-50%	$0.00	840	Sep 15, 2021	Class A Common Stock	840		Direct	F2
transaction	MSGS	Restricted Stock Units	Options Exercise	$0	-1.46K	-33.33%	$0.00	2.91K	Sep 15, 2021	Class A Common Stock	1.46K		Direct	F3
transaction	MSGS	Performance Restricted Stock Units	Options Exercise	$0	-2.28K	-100%	$0.00^*	0	Sep 15, 2021	Class A Common Stock	2.28K		Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") was granted on August 29, 2018 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 13, 2019. One-third of the RSUs vested and were settled on September 15, 2020. The remaining one-third of the RSUs vested and were settled on September 15, 2021.
F2	Each RSU was granted on August 29, 2019 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, 2020. One-third of the RSUs vested and were settled on September 15, 2021. The remaining one-third of the RSUs will vest on September 15, 2022.
F3	Each RSU was granted on August 27, 2020 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, 2021. One-third of the RSUs will vest on September 15, 2022. The remaining one-third of the RSUs will vest on September 15, 2023.
F4	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.
F5	Each performance restricted stock unit ("PSU") was granted on August 29, 2018 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 27, 2021 and the PSUs vested and were settled on September 15, 2021.
F6	Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of PSUs described in footnote 5 above, exempt under Rule 16b-3.