Madison Square Garden Entertainment (MSGE) awards 3,266 RSUs to director Martin Bandier

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. reported an equity award to director Martin Bandier. On 12/10/2025, he received 3,266 restricted stock units (RSUs) under the company’s 2023 Stock Plan for Non-Employee Directors. Each RSU represents the right to receive one share of Class A Common Stock or the cash equivalent.

The RSUs are fully vested on the grant date and will be settled in stock or cash on the first business day 90 days after Bandier’s separation from service. Following this grant, he beneficially owned 16,255 derivative securities related to the company’s stock, held directly.

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

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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^*

BANDIER MARTIN

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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)	12/10/2025		A		3,266		(2)	(2)	Class A Common Stock	3,266	$0	16,255	D

Explanation of Responses:

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

2. The RSUs are fully vested on the date of the grant and will be settled in stock or in cash on the first business day 90 days after separation from service.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Martin Bandier	12/12/2025
	** 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 insider transaction did MSGE report for Martin Bandier on this Form 4?

The filing reports a grant of 3,266 restricted stock units (RSUs) to director Martin Bandier on 12/10/2025 under Madison Square Garden Entertainment Corp.’s 2023 Stock Plan for Non-Employee Directors.

What does each RSU granted to Martin Bandier by MSGE represent?

Each RSU granted to Martin Bandier represents a right to receive one share of Class A Common Stock of Madison Square Garden Entertainment Corp. or the cash equivalent of that share.

When do Martin Bandier’s MSGE RSUs vest and when will they be settled?

The RSUs are fully vested on the date of grant and will be settled in stock or cash on the first business day 90 days after Martin Bandier’s separation from service.

Under what plan were the 3,266 MSGE RSUs granted to Martin Bandier?

The 3,266 RSUs were granted under the Madison Square Garden Entertainment Corp. 2023 Stock Plan for Non-Employee Directors.

How many MSGE derivative securities does Martin Bandier beneficially own after this transaction?

After the reported RSU grant, Martin Bandier beneficially owned 16,255 derivative securities related to Madison Square Garden Entertainment Corp. stock, held directly.

What is Martin Bandier’s relationship to Madison Square Garden Entertainment Corp. as shown in this Form 4?

Martin Bandier is reported as a Director of Madison Square Garden Entertainment Corp. on this Form 4, filing as a single reporting person.