secwatch.observer — SEC 8-K summary
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Issuer:     Sphere Entertainment Co. (SPHR)
CIK:        0001795250
Form:       8-K
Filed at:   2021-12-21T23:59:59+00:00
Accession:  0001193125-21-363638
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Madison Square Garden Entertainment appoints Byrnes as CFO, inks new Lustgarten employment pact
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- David Byrnes appointed EVP & CFO effective Jan 24, 2022, succeeding Mark FitzPatrick. Base salary $800k, target bonus 100%, special cash award up to $1.331M, LTI target min $1.2M.
- Andrew Lustgarten enters new employment agreement with MSGE through Dec 31, 2024. Base $800k, target bonus 200% of base, LTI target min $1.6M.
- Byrnes joins from ViacomCBS (EVP Corporate Finance); previously at CBS and ADP.
- Lustgarten's agreement recognizes his dual CEO/President role at MSGS; severance no less than 2x base plus target bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795250/000119312521363638/0001193125-21-363638-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795250/000119312521363638/d274478d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-363638

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer