MSG Sports Adds Directors, Loses One
Ticker: MSGS · Form: 8-K · Filed: Jul 9, 2024 · CIK: 1636519
| Field | Detail |
|---|---|
| Company | Madison Square Garden Sports CORP. (MSGS) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1,000,000, $1,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, governance
TL;DR
MSG Sports swapped a director, adding Lustgarten and Boyar to the board.
AI Summary
Madison Square Garden Sports Corp. announced on July 3, 2024, the departure of director David M. Rone. The company also elected Andrew M. Lustgarten and Jonathan A. Boyar as new directors, effective immediately. These changes are part of the company's ongoing corporate governance.
Why It Matters
Changes in board composition can signal shifts in strategic direction or governance, potentially impacting investor confidence and future company performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board changes and does not indicate significant financial distress or operational disruption.
Key Players & Entities
- Madison Square Garden Sports Corp. (company) — Registrant
- David M. Rone (person) — Departing Director
- Andrew M. Lustgarten (person) — Newly Elected Director
- Jonathan A. Boyar (person) — Newly Elected Director
- July 3, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the board of Madison Square Garden Sports Corp.?
David M. Rone has departed from the board of Madison Square Garden Sports Corp.
Who has been elected as new directors to the board?
Andrew M. Lustgarten and Jonathan A. Boyar have been elected as new directors.
When were these board changes effective?
The changes were effective immediately as of July 3, 2024.
What is the exact name of the company filing this report?
The exact name of the registrant is Madison Square Garden Sports Corp.
What is the state of incorporation for Madison Square Garden Sports Corp.?
The state of incorporation for Madison Square Garden Sports Corp. is Delaware.
Filing Stats: 1,149 words · 5 min read · ~4 pages · Grade level 12.9 · Accepted 2024-07-09 16:15:30
Key Financial Figures
- $1,000,000 — an annual base salary of not less than $1,000,000 and an annual target bonus opportunity
- $1,500,000 — aggregate target value of not less than $1,500,000. Mr. Lesane will be eligible to partici
Filing Documents
- d827900d8k.htm (8-K) — 29KB
- d827900dex101.htm (EX-10.1) — 64KB
- g827900g0702234343560.jpg (GRAPHIC) — 5KB
- 0001193125-24-176741.txt ( ) — 236KB
- msgs-20240703.xsd (EX-101.SCH) — 3KB
- msgs-20240703_lab.xml (EX-101.LAB) — 17KB
- msgs-20240703_pre.xml (EX-101.PRE) — 11KB
- d827900d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description of Exhibit 10.1 Employment Agreement, dated as of July 3, 2024, between Madison Square Garden Sports Corp. and Jamaal Lesane. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). This exhibit is a management contract or a compensatory plan or arrangement.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MADISON SQUARE GARDEN SPORTS CORP. (Registrant) By: /s/ Mark C. Cresitello Name: Mark C. Cresitello Title: Secretary Dated: July 9, 2024