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

Rhea-AI Filing Summary

Madison Square Garden Entertainment insider reported a routine RSU vesting and tax-withholding on Sept 15, 2025. Taki Layth, SVP, Controller and PAO, had 10,183 restricted stock units vest and settle into Class A common stock on that date. Of those vested RSUs, 4,103 shares were withheld to satisfy tax obligations and 6,080 shares were delivered for the reporting person. After the transactions, the reporting person beneficially owned 20,368 shares of Class A common stock. The Form 4 was filed by one reporting person and signed by an attorney-in-fact on Sept 17, 2025.

Positive

• Transparent disclosure of RSU vesting and tax withholding consistent with Section 16 filing requirements
• No sales of shares reported beyond tax withholding, indicating retention of vested shares

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine RSU vesting and tax withholding; modest share increase, immaterial to company valuation.

The filing documents an ordinary compensation-related equity settlement: 10,183 RSUs vested on Sept 15, 2025, yielding net delivery of 6,080 shares after withholding 4,103 shares for taxes. This is a personal compensation event rather than a market-moving transaction. The post-transaction beneficial ownership stands at 20,368 Class A shares. No derivative exercises or dispositions beyond the RSU settlement are reported.

Corporate Governance Expert

TL;DR: Standard Section 16 disclosure for executive compensation settlement; disclosure appears complete.

The report identifies the reporting person as SVP, Controller and PAO and reflects settlement mechanics under the 2023 Employee Stock Plan, including tax-withholding exempt under Rule 16b-3. The form indicates single filer's submission and includes attorney-in-fact signature. There are no indications of trading plans or Rule 10b5-1 elections noted on the form.

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

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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^*

Taki Layth

(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)
	SVP, Controller and PAO

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Class A Common Stock	09/15/2025		M		10,183	A	$0(1)	10,183	D
Class A Common Stock	09/15/2025		F(2)		4,103	D	$43.94	6,080	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)	09/15/2025		M			10,183	(1)	09/15/2027	Class A Common Stock	10,183	$0	20,368	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 and represents a right to receive one share of 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 are scheduled to vest and settle on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.

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

	/s/ Mark C. Cresitello, Attorney-in-Fact for Layth Taki	09/17/2025
	** 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.
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FAQ

What did Madison Square Garden Entertainment insider Taki Layth report on Form 4?

The filing reports 10,183 RSUs vested and settled into Class A common stock on Sept 15, 2025, with 4,103 shares withheld for taxes and 6,080 shares delivered to the reporting person.

How many shares does Taki Layth beneficially own after the transactions?

Following the reported transactions, the reporting person beneficially owns 20,368 shares of Class A common stock.

What is the reporting person's role at MSGE and filing status?

The reporting person is listed as SVP, Controller and PAO and the Form 4 was filed by one reporting person.

Were any derivative securities exercised or sold in this Form 4?

No derivative exercises or sales are reported; the transactions reflect RSU vesting and settlement only.

When was the Form 4 signed and by whom?

The form bears a signature by Mark C. Cresitello, Attorney-in-Fact for Layth Taki dated Sept 17, 2025.