Charles F. Dolan Trust Disposes 341,684 MSGE Shares at $41.54 Each
Rhea-AI Filing Summary
Madison Square Garden Entertainment Corp. (MSGE) insider filing shows the Charles F. Dolan 2009 Revocable Trust transferred Class B common stock on 09/08/2025 to partially repay promissory notes. The Form 4 reports multiple dispositions that reduced the trust's beneficial ownership in stages from 341,684 Class B shares down to 0 for the final lot, with the shares valued at $41.54 per share for the repayment calculation. Each Class B share is convertible on a one-for-one basis into Class A common stock, and the reported transactions were executed by the trustee, Paul J. Dolan.
Positive
- Transfers explicitly used to partially repay promissory notes, indicating reduction of the reporting person's indebtedness
- Per-share valuation disclosed ($41.54) for the repayment calculation, providing transparency on transaction pricing
Negative
- Material reduction in beneficial ownership of Class B common stock (table implies transfers totaling 341,684 shares)
- Insider disposition on a large scale which may reduce insider-held voting influence and ownership stake
Insights
TL;DR: Reporting person disposed of a large block of Class B shares to repay debt; ownership was steadily reduced to zero across reported lots.
The Form 4 discloses multiple discrete transfers of Class B common stock on September 8, 2025, used to partially repay promissory notes. The filing explicitly values the shares at $41.54 per share for the repayment calculation. Because Class B shares convert one-for-one into Class A shares, the transfers directly reduced the reporting person's economic and voting exposure recorded on SEC filings. This is a non-derivative, direct disposition reported by the trust via its trustee signature.
TL;DR: The trust reduced its beneficial ownership through share transfers tied to debt repayment; transaction is disclosed and signed by the trustee.
The filing is a routine Section 16 disclosure of insider changes: it documents share transfers rather than open-market sales, specifying the purpose as partial repayment of promissory notes and providing the per-share valuation used. The structured, stepwise decreases in beneficial ownership are recorded on separate lines, culminating with a reported zero balance for the last lot. The filing complies with Section 16 reporting by identifying the reporting person, relationship to the issuer, transaction date, and trustee signature.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Common Stock | 56,947 | $0.00 | -- |
| Other | Class B Common Stock | 56,948 | $0.00 | -- |
| Other | Class B Common Stock | 56,947 | $0.00 | -- |
| Other | Class B Common Stock | 56,948 | $0.00 | -- |
| Other | Class B Common Stock | 56,947 | $0.00 | -- |
| Other | Class B Common Stock | 46,697 | $0.00 | -- |
| Other | Class B Common Stock | 10,250 | $0.00 | -- |
Footnotes (1)
- Madison Square Garden Entertainment Corp. Class B Common Stock ("Class B Common Stock") is convertible at the option of the holder on a share for share basis into Madison Square Garden Entertainment Corp. Class A Common Stock ("Class A Common Stock"). On September 8, 2025, the Reporting Person transferred the shares of Class B Common Stock in partial repayment of promissory notes. For purposes of the repayment, the shares were valued at $41.54 per share, the mean of the high and low trading price for the Class A Common Stock on September 8, 2025.
