Madison Square Garden Entertainment director awarded 3,266 RSUs

Madison Square Garden Entertainment Corp. reported that director Ryan T. Dolan received a grant of 3,266 restricted stock units on 12/10/2025 under the company’s 2023 Stock Plan for Non-Employee Directors.

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. reported that director Ryan T. Dolan received a grant of 3,266 restricted stock units on 12/10/2025 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 Dolan’s separation from service. Following this award, Dolan beneficially owns 16,255 derivative securities related to Class A Common Stock, all held in direct ownership form.

Insider Trade Summary

Grant/Award: 3,266 shares

Grant/Award 1 txn

Insider Dolan Ryan Thomas

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	3,266	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 16,255 contracts (Direct)

Footnotes (2)

1. F1. 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. F2. 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.

FAQ

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

What equity award did MSGE director Ryan T. Dolan receive?

Ryan T. Dolan received 3,266 restricted stock units (RSUs) of Madison Square Garden Entertainment Corp. Class A Common Stock on 12/10/2025.

How are the new MSGE RSUs for Ryan T. Dolan structured?

Each RSU granted to Ryan T. Dolan under the 2023 Stock Plan for Non-Employee Directors represents the right to receive one share of Class A Common Stock or the cash equivalent.

When do Ryan T. Dolan’s MSGE RSUs vest and settle?

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 separation from service.

What is the exercise or purchase price of Ryan T. Dolan’s MSGE RSUs?

The filing lists the price of the derivative security as $0, reflecting that these are restricted stock units rather than options with an exercise price.

How many derivative securities related to MSGE stock does Ryan T. Dolan own after this grant?

After the reported transaction, Ryan T. Dolan beneficially owns 16,255 derivative securities related to MSGE Class A Common Stock, held in direct ownership.

What is Ryan T. Dolan’s relationship to Madison Square Garden Entertainment Corp.?

Ryan T. Dolan is reported as a Director of Madison Square Garden Entertainment Corp. on this Form 4.

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

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Accepted by SEC EDGAR 12/12/2025 - 04:15 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^*

Dolan Ryan Thomas

(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 Ryan T. Dolan	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.