false 0001636519 0001636519 2024-12-03 2024-12-03

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 3, 2024

 

 

MADISON SQUARE GARDEN SPORTS CORP.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-36900   47-3373056
(State or other jurisdiction
of incorporation)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

2 Penn Plaza, New York, New York   10121
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (212) 465-4111

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  ☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange
on which registered

Class A Common Stock   MSGS   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 3, 2024, Richard D. Parsons, a director elected by holders of the Class A common stock of Madison Square Garden Sports Corp. (the “Company”), notified the Company that he resigned from the Board of Directors (the “Board”) of the Company due to health reasons, effective immediately. It was determined that there would not be a replacement director nominated at the Company’s annual meeting of stockholders held on December 4, 2024, and the Board decreased the size of the Board by one director. The Company extends its gratitude and appreciation for Mr. Parsons’ many years of service as a director.

 

Item 5.07

Submission of Matters to a Vote of Security Holders

On December 4, 2024, the Company held its annual meeting of stockholders. In accordance with the Company’s Amended and Restated Certificate of Incorporation, the Class A stockholders have one vote per share and the Class B stockholders have ten votes per share. The proposals are described in the Company’s proxy statement for the 2024 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on October 24, 2024. The final results for the votes regarding each proposal are set forth below.

 

  1.

The Company’s Class A stockholders elected the four directors listed below to the Board. The votes regarding this proposal were as follows:

 

     For      Withheld      Broker
Non-Votes		  

Joseph M. Cohen

      12,861,049        3,471,076        1,620,377  

Nelson Peltz

      9,559,620        6,772,505        1,620,377  

Ivan Seidenberg

      12,977,664      3,354,461        1,620,377  

Anthony J. Vinciquerra

      12,895,994        3,436,131        1,620,377  

The Company’s Class B stockholders elected the twelve directors listed below to the Board. The votes regarding this proposal were as follows:

 

     For      Withheld      Broker
Non-Votes		  

James L. Dolan

      45,295,170        0        0  

Charles F. Dolan

      45,295,170        0        0  

Charles P. Dolan

      45,295,170        0        0  

Marianne Dolan Weber

      45,295,170        0        0  

Paul J. Dolan

      45,295,170        0        0  

Quentin F. Dolan

      45,295,170        0        0  

Ryan T. Dolan

      45,295,170        0        0  

Thomas C. Dolan

      45,295,170        0        0  

Stephen C. Mills

      45,295,170        0        0  

Alan D. Schwartz

      45,295,170        0        0  

Brian G. Sweeney

      45,295,170        0        0  

Vincent Tese

      45,295,170        0        0  

 

  2.

The Company’s Class A stockholders and Class B stockholders, voting together as a single class, ratified the appointment of the Company’s independent registered public accounting firm for the 2025 fiscal year. The votes regarding this proposal were as follows:

 

For

   

Against

   

Abstain

   

Broker
Non-Votes

63,153,712    36,955    57,005    0

  3.

The Company’s Class A stockholders and Class B stockholders, voting together as a single class, approved the Company’s 2015 Employee Stock Plan, as amended (the “Employee Stock Plan”). The votes regarding this proposal were as follows:

 

For

   

Against

   

Abstain

   

Broker
Non-Votes

60,715,119    862,889    49,287    1,620,377

 

  4.

The Company’s Class A stockholders and Class B stockholders, voting together as a single class, approved the Company’s 2015 Stock Plan for Non-Employee Directors, as amended (the “Director Stock Plan”). The votes regarding this proposal were as follows:

 

For

   

Against

   

Abstain

   

Broker
Non-Votes

60,494,335    1,084,706    48,254    1,620,377

 

  5.

The Company’s Class A stockholders and Class B stockholders, voting together as a single class, approved, on an advisory (non-binding) basis, the compensation of the Company’s named executive officers (“NEOs”). The votes regarding this proposal were as follows:

 

For

   

Against

   

Abstain

   

Broker
Non-Votes

60,263,449    1,289,953    73,893    1,620,377

The foregoing votes on the Employee Stock Plan (Proposal 3), the Director Stock Plan (Proposal 4) and the non-binding, advisory vote on NEO compensation (Proposal 5) each included the affirmative vote of a majority of the shares of the Company’s Class A common stock that were voted on the matter and a majority of the Company’s shares of Class B common stock that were voted on the matter.

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:  Senior Vice President, Deputy

      General Counsel & Secretary

Dated: December 5, 2024

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Document and Entity Information
Dec. 03, 2024
Cover [Abstract]  
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Entity Central Index Key 0001636519
Document Type 8-K
Document Period End Date Dec. 03, 2024
Entity Registrant Name MADISON SQUARE GARDEN SPORTS CORP.
Entity Incorporation State Country Code DE
Entity File Number 1-36900
Entity Tax Identification Number 47-3373056
Entity Address, Address Line One 2 Penn Plaza
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10121
City Area Code (212)
Local Phone Number 465-4111
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Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Class A Common Stock
Trading Symbol MSGS
Security Exchange Name NYSE
Entity Emerging Growth Company false
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