MSGE CEO Dolan vests 99,565 performance shares
MSGE’s CEO reported RSU and PSU vesting into Class A shares with a portion withheld to satisfy tax obligations.
Rhea-AI Filing Summary
Madison Square Garden Entertainment Corp. (MSGE) reported that Executive Chairman & CEO James L. Dolan exercised and settled several equity awards on September 15, 2026. Restricted stock units granted in 2023–2025 converted into 31,134, 36,904 and 37,739 shares of Class A Common Stock as their scheduled tranches vested, and performance RSUs granted in 2023 converted into 99,565 shares after satisfaction of performance conditions. To cover related tax withholding obligations, 58,493 and 55,059 shares were withheld, as described as exempt under Rule 16b-3. The filing also notes indirect holdings of 26,320 shares by his spouse and 746 shares by minor children and household members, for which Mr. Dolan disclaims beneficial ownership except to the extent of any direct pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
205,342 shares exercised/converted
Exercise
12 txns
Insider
DOLAN JAMES LAWRENCE
Role
Executive Chairman & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1 | 31,134 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3 | 36,904 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F4 | 37,739 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F6 | 99,565 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1, F2 | 31,134 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F3, F2 | 36,904 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F4, F2 | 37,739 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F5, F2 | 58,493 | $80.89 | $4.73M |
| Exercise | Class A Common Stock F6, F2 | 99,565 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F7, F2 | 55,059 | $80.89 | $4.45M |
| holding | Class A Common Stock F8 | -- | -- | -- |
| holding | Class A Common Stock F9 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 112,383 contracts (Direct);
Performance Restricted Stock Units — 0 contracts (Direct);
Class A Common Stock — 424,815 shares (Direct);
Class A Common Stock — 26,320 shares (Indirect, By Spouse);
Class A Common Stock — 746 shares (Indirect, By Minor Children and Household Members)
Footnotes (9)
- F1. Each restricted stock unit ("RSU") was granted on September 1, 2023 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 13, 2024. One-third of the RSUs vested and were settled on September 15, 2025. The remaining one-third of the RSUs vested and were settled on September 15, 2026.
- F2. Includes shares held jointly with spouse.
- F3. Each RSU was granted on August 27, 2024 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, 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.
- F4. 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.
- F5. Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 3 and 4 above, exempt under Rule 16b-3.
- F6. Each performance restricted stock unit ("PSU") was granted on September 1, 2023 under the MSGE 2023 Employee Stock Plan and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. The performance conditions were satisfied on August 26, 2026 and the PSUs vested and were settled on September 15, 2026.
- F7. Represents PSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of PSUs described in footnote 6 above, exempt under Rule 16b-3.
- F8. Securities held by Kristin A. Dolan, James L. Dolan's spouse. Mr. Dolan disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Ms. Dolan (other than securities in which he has a direct pecuniary interest) and this report shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
- F9. Mr. Dolan disclaims beneficial ownership of all securities of MSGE benificially owned and deemed to be beneficially owned by his minor children and household members and this filing shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
Key Figures
RSUs converted (2023 grant): 31,134 shares
RSUs converted (2024 grant): 36,904 shares
RSUs converted (2025 grant): 37,739 shares
+5 more
8 metrics
RSUs converted (2023 grant)
31,134 shares
RSUs granted September 1, 2023; final one-third vested and settled September 15, 2026
RSUs converted (2024 grant)
36,904 shares
RSUs granted August 27, 2024; tranche vested and settled September 15, 2026
RSUs converted (2025 grant)
37,739 shares
RSUs granted August 25, 2025; first one-third vested and settled September 15, 2026
Performance RSUs converted
99,565 shares
PSUs granted September 1, 2023; performance met August 26, 2026; vested September 15, 2026
RSU tax-withholding shares
58,493 shares
Shares withheld to satisfy tax obligations on RSU vesting at $80.89 per share
PSU tax-withholding shares
55,059 shares
Shares withheld to satisfy tax obligations on PSU vesting at $80.89 per share
Spouse indirect holdings
26,320 shares
Class A Common Stock held by spouse; beneficial ownership disclaimed except for any pecuniary interest
Minor children and household holdings
746 shares
Class A Common Stock held by minor children and household members; beneficial ownership disclaimed
Key Terms
Restricted Stock Units, Performance Restricted Stock Units, Rule 16b-3, Section 16
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") was granted on September 1, 2023"
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.
Performance Restricted Stock Units financial
"Each performance restricted stock unit ("PSU") was granted on September 1, 2023"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
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.
Section 16 regulatory
"for the purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did MSGE CEO James L. Dolan exercise on September 15, 2026?
On September 15, 2026, James L. Dolan exercised restricted stock units granted in 2023, 2024 and 2025 into 31,134, 36,904 and 37,739 MSGE Class A shares, and performance RSUs granted in 2023 into 99,565 shares after performance conditions were satisfied.
Were the MSGE transactions made under a Rule 10b5-1 trading plan?
No. The Form 4 for MSGE indicates the Rule 10b5-1 checkbox is not affirmed, and the footnotes describe tax-withholding and vesting mechanics only, so no Rule 10b5-1 trading plan is reported in connection with these transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
