[Form 4] Madison Square Garden Entertainment Corp. Insider Trading Activity

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. (MSGE) reporting person David J. Collins, EVP and CFO, received a grant of 9,216 restricted stock units (RSUs) on 08/25/2025 under the 2023 Employee Stock Plan. Each RSU represents a right to one share of Class A Common Stock or cash equivalent. The RSUs vest and settle in three equal installments on Sept 15, 2026, Sept 15, 2027 and Sept 15, 2028. Following the grant Collins beneficially owns 9,216 Class A shares (direct).

Positive

• Equity alignment: Grant ties the CFO's compensation to company performance through RSUs
• Retention incentive: Three-year vesting schedule supports medium-term executive retention
• Clear disclosure: Form 4 lists grant date, amount, vesting dates, and plan reference

Negative

• None.

Insights

Compensation & Governance Analyst

TL;DR: Routine equity compensation to align CFO incentives with shareholder value over three years.

The 9,216 RSU grant to the EVP/CFO is a standard retention and performance-alignment tool under the 2023 Employee Stock Plan. Vesting in three equal annual installments encourages medium-term retention and ties realized value to future share performance. The award size appears modest and no purchase price was paid, indicating a straightforward equity grant rather than a purchase or option exercise. This filing is informational and not likely to materially move valuation on its own.

Securities Compliance Expert

TL;DR: Form 4 properly discloses a grant; timing and signature comply with Section 16 reporting.

The form shows an acquisition code 'A' for RSUs on 08/25/2025 with settlement details and a dated attorney-in-fact signature on 08/27/2025. Disclosures include the plan reference and vesting schedule, meeting standard Form 4 content requirements. There are no indicia of sales, hedging, or disposition that would raise compliance flags in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Collins David J

(Last) (First) (Middle)

2 PENNSYLVANIA PLAZA

(Street)

NEW YORK NY 10121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Madison Square Garden Entertainment Corp. [ MSGE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	08/25/2025		A		9,216		(2)	09/15/2028	Class A Common Stock	9,216	$0.0	9,216	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") is granted under the Madison Square Garden Entertainment Corp. 2023 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.

2. The RSUs are scheduled to vest and settle in three equal installments on September 15, 2026, September 15, 2027 and September 15, 2028.

	/s/ Mark C. Cresitello, Attorney-in-Fact for David J. Collins	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did MSGE insider David J. Collins receive on 08/25/2025?

He was granted 9,216 restricted stock units (RSUs), each representing a right to one share of Class A Common Stock or cash equivalent.

When do the RSUs granted to the MSGE CFO vest?

They vest and settle in three equal installments on Sept 15, 2026, Sept 15, 2027, and Sept 15, 2028.

Does the Form 4 show a purchase price for the RSUs?

No. The RSUs were reported with a $0.0 price, indicating a grant rather than a purchase.

How many MSGE Class A shares does Collins beneficially own following this transaction?

The Form reports 9,216 Class A shares beneficially owned following the RSU grant.

Was this Form 4 filed jointly or by one reporting person?

The filing indicates it was filed by one reporting person (David J. Collins).