Madison Square Garden Entertainment (NYSE: MSGE) awards 3,266 RSUs to director Dolan

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp. reported that director Paul J. Dolan received a grant of 3,266 restricted stock units (RSUs) of Class A Common Stock on 12/10/2025. These RSUs were issued under the company’s 2023 Stock Plan for Non-Employee Directors and each unit represents a right to receive one share of Class A Common Stock or its 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 grant, he beneficially owns 16,255 derivative securities, 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^*

DOLAN PAUL JOSEPH

(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)	X	Other (specify below)
			Trustee of 13(d) Group Member

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 Paul J. 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.

FAQ

What insider transaction did Madison Square Garden Entertainment Corp. (MSGE) report?

The company reported that director Paul J. Dolan received a grant of 3,266 restricted stock units (RSUs) of Class A Common Stock on 12/10/2025 under the 2023 Stock Plan for Non-Employee Directors.

How are the 3,266 RSUs for MSGE’s director Paul J. Dolan structured?

Each 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.

When do Paul J. Dolan’s MSGE RSUs vest and settle?

The 3,266 RSUs are fully vested on the date of grant, and they will be settled in stock or cash on the first business day 90 days after separation from service.

How many derivative securities does Paul J. Dolan hold in MSGE after this transaction?

After the reported RSU grant, Paul J. Dolan beneficially owns 16,255 derivative securities of Madison Square Garden Entertainment Corp., held directly.

What is the relationship of Paul J. Dolan to Madison Square Garden Entertainment Corp. (MSGE)?

Paul J. Dolan is reported as a Director of Madison Square Garden Entertainment Corp. and is also identified as Other – Trustee of 13(d) Group Member.

Is the MSGE Form 4 transaction tied to a 10b5-1 trading plan?

The form includes a checkbox to indicate if a transaction was made under a Rule 10b5-1(c) plan, but the provided content does not show that this box was marked for the reported RSU grant.