MSGE CFO vests 7,854 RSUs; 3,820 shares withheld

MSGE’s CFO had RSUs vest into Class A shares, with a portion withheld to cover taxes and no open-market trading reported.

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. (MSGE) reported that EVP and CFO David J. Collins had previously granted restricted stock units vest and convert into Class A Common Stock on September 15, 2026. RSUs covering 4,782 and 3,072 shares vested and were settled into MSGE Class A shares, and 3,820 shares were withheld to satisfy tax withholding obligations related to these vestings. No open-market purchases or sales are reported, and no Rule 10b5-1 trading plan is indicated.

Insider Trade Summary

7,854 shares exercised/converted

Exercise 5 txns

Insider Collins David J

Role EVP and CFO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F1	4,782	$0.00	$0.00
Exercise	Restricted Stock Units F2	3,072	$0.00	$0.00
Exercise	Class A Common Stock F1	4,782	$0.00	$0.00
Exercise	Class A Common Stock F2	3,072	$0.00	$0.00
Tax Withholding	Class A Common Stock F3	3,820	$80.89	$309K

Holdings After Transaction: Restricted Stock Units — 10,926 contracts (Direct); Class A Common Stock — 7,092 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit ("RSU") was granted on April 24, 2025 under the Madison Square Garden Entertainment Corp. ("MSGE") 2023 Employee Stock Plan (the "2023 Employee Stock Plan") and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2025. One-third of the RSUs vested and were settled on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.
2. F2. Each RSU was granted on August 25, 2025 under the 2023 Employee Stock Plan and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2026. One-third of the RSUs are scheduled to vest and settle on September 15, 2027. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2028.
3. F3. Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1 and 2 above, exempt under Rule 16b-3.

Key Figures

RSUs vested from April 24, 2025 grant: 4,782 units RSUs vested from August 25, 2025 grant: 3,072 units Total RSUs converted: 7,854 units +4 more

7 metrics

RSUs vested from April 24, 2025 grant 4,782 units RSUs that vested and settled into MSGE Class A Common Stock on September 15, 2026 (Footnote F1)

RSUs vested from August 25, 2025 grant 3,072 units RSUs that vested and settled into MSGE Class A Common Stock on September 15, 2026 (Footnote F2)

Total RSUs converted 7,854 units Aggregate RSUs exercised/converted into MSGE Class A Common Stock on September 15, 2026

Shares withheld for taxes 3,820 shares Class A Common Stock withheld to satisfy tax withholding obligations (code F, Footnote F3)

Withholding reference price $80.89 per share Price applied to 3,820 MSGE shares delivered or withheld for tax withholding obligations

2027 scheduled RSU vesting (F1 grant) One-third of grant Remaining one-third of April 24, 2025 RSUs scheduled to vest and settle on September 15, 2027

Future vesting dates (F2 grant) 2027 and 2028 Remaining RSUs from August 25, 2025 grant scheduled to vest and settle on September 15, 2027 and September 15, 2028

Key Terms

Restricted Stock Units, 2023 Employee Stock Plan, Rule 16b-3

3 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") was granted on April 24, 2025"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2023 Employee Stock Plan financial

"granted on April 24, 2025 under the Madison Square Garden Entertainment Corp."

Rule 16b-3 regulatory

"withheld to satisfy tax withholding obligations ... exempt under Rule 16b-3."

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MSGE CFO David J. Collins report on this Form 4 for MSGE?

He reported the vesting and settlement of 7,854 restricted stock units into MSGE Class A Common Stock on September 15, 2026, with a portion of the resulting shares withheld to satisfy related tax obligations.

How many MSGE shares vested for the CFO in this Form 4?

A total of 7,854 shares of MSGE Class A Common Stock were issued upon RSU vesting: 4,782 shares from RSUs granted on April 24, 2025 and 3,072 shares from RSUs granted on August 25, 2025.

How many MSGE shares were withheld for taxes in this Form 4?

The filing states that 3,820 shares of MSGE Class A Common Stock were withheld to satisfy tax withholding obligations in connection with the RSU vesting, valued at a reported $80.89 per share for that withholding transaction.

Were the MSGE CFO’s transactions under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and there is no footnote indicating a Rule 10b5-1 trading plan, so no such plan is reported for these RSU-related transactions.

Did the MSGE CFO sell any shares in the open market in this Form 4?

No open-market sales are reported. The only disposition is 3,820 shares of MSGE Class A Common Stock delivered or withheld to meet tax withholding obligations related to the RSU vesting, coded as a tax-liability transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 04:05 PM Accepted by SEC EDGAR 09/17/2026 - 04:05 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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 NEW YORK 10121

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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

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

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

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
Class A Common Stock	09/15/2026		M		4,782	A	$0(1)	7,840	D
Class A Common Stock	09/15/2026		M		3,072	A	$0(2)	10,912	D
Class A Common Stock	09/15/2026		F(3)		3,820	D	$80.89	7,092	D

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)	09/15/2026		M			4,782	(1)	09/15/2027	Class A Common Stock	4,782	$0	4,782	D
Restricted Stock Units	(2)	09/15/2026		M			3,072	(2)	09/15/2028	Class A Common Stock	3,072	$0	6,144	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") was granted on April 24, 2025 under the Madison Square Garden Entertainment Corp. ("MSGE") 2023 Employee Stock Plan (the "2023 Employee Stock Plan") and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2025. One-third of the RSUs vested and were settled on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.

2. Each RSU was granted on August 25, 2025 under the 2023 Employee Stock Plan and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2026. One-third of the RSUs are scheduled to vest and settle on September 15, 2027. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2028.

3. Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1 and 2 above, exempt under Rule 16b-3.

	/s/ Mark C. Cresitello, Attorney-in-Fact for David J. Collins	09/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)