Sphere Entertainment Co.'s Form 4 filing
Madison Square Garden Entertainment Corp.MSGE · filed Jun 29, 2023
- Accession no.
- 0001209191-23-040164
- Filed
- Jun 29, 2023
- Trade date
- Jun 27, 2023
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 2 non-derivative transactions. Open-market sales total $204.7M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Sphere Entertainment Co.CIK 0001795250 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jun 27, 2023 | Class A Common Stock, par value $0.01 per share | SSaleDisposed | −840,053 | $29.76F1 | −$24,999,977.28 | 16,181,438 | Indirect | |
| Jun 27, 2023 | Class A Common Stock, par value $0.01 per share | SSaleDisposed | −6,037,500 | $29.76F2 | −$179,676,000 | 10,143,938 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
On June 27, 2023, Sphere Entertainment Group, LLC (the "Shareholder"), a direct subsidiary of Sphere Entertainment Co. and the direct holder of Class A Common Stock, par value $0.01 per share ("Class A Common Stock"), of Madison Square Garden Entertainment Corp. (the "Issuer"), sold 840,053 shares of Class A Common Stock back to the Issuer at a per share price of $29.76 USD pursuant to the Stock Purchase Agreement, dated June 21, 2023, by and between the Issuer and the Shareholder.
Referenced by the price of 1 transaction in Table I.
- F2
On June 27, 2023, the Shareholder sold 6,037,500 shares of Class A Common Stock of the Issuer in an underwritten public offering at a per share price of $29.76 pursuant to the Underwriting Agreement, dated June 22, 2023, by and among the Issuer, the Shareholder and the the representatives of the underwriters party thereto, which includes the exercise in full of the underwriters' option to purchase additional shares. The public offering price in the underwritten public offering was $31.00 per share.
Referenced by the price of 1 transaction in Table I.