secwatch.observer — SEC 8-K summary
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Issuer:     Madison Square Garden Sports Corp. (MSGS)
CIK:        0001636519
Form:       8-K
Filed at:   2021-12-21T23:59:59+00:00
Accession:  0001193125-21-363635
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Andrew Lustgarten signs new employment agreement with base salary $1M, target bonus 200%
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- Base salary not less than $1,000,000 annually; target bonus not less than 200% of base salary.
- Long-term incentive target value not less than $4,000,000; FY2022 mid-year grant of $700,000.
- Severance upon termination without cause or for good reason before Dec 31, 2024: at least 2x (base + target bonus).
- Equity and cash awards accelerate vesting upon qualifying termination; non-compete covenant for 1 year.
- Agreement effective January 1, 2022; replaces prior employment agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636519/000119312521363635/0001193125-21-363635-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636519/000119312521363635/d257447d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-363635

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