MSG Entertainment Schedule 13D/A: 341,684 Class B Shares Transferred at $41.54
Filing Impact
Filing Sentiment
Form Type
SCHEDULE 13D/A
This Amendment No. 5 to Schedule 13D reports changes in beneficial ownership and group membership among members of the Dolan family with respect to Madison Square Garden Entertainment Corp.'s Class A and Class B common stock. As of September 8, 2025, the Group Members may be deemed to beneficially own an aggregate of 8,552,403 shares of Class A Common Stock, including 1,685,649 shares held directly or through awards and 6,866,754 shares issuable upon conversion of all outstanding Class B Common Stock, representing approximately 17.9% of Class A shares outstanding based on 40,593,104 shares.
The filing discloses that the Charles F. Dolan 2009 Revocable Trust transferred all of its Class B shares on September 8, 2025, moving 341,684 Class B shares to various Group Members as partial repayment of promissory notes at a valuation of $41.54 per share. Several trusts and individuals were added as Group Members and parties to related shareholder and registration arrangements. Separately, James L. Dolan received grants totaling 226,436 units (113,218 restricted stock units and 113,218 performance restricted stock units) and 100,429 performance units vested to settle on September 15, 2025.
Positive
- Group retains substantial consolidated economic and voting position: Group Members may be deemed to beneficially own 8,552,403 shares (approx. 17.9%) including all Class B conversion equivalents.
- Resolution of promissory notes via share transfer: CFD 2009 Trust transferred 341,684 Class B shares in partial repayment at $41.54/share, completing that trust's disposition.
- New Group Members and updated agreements: Several trusts were added as Group Members and became parties to the Class B Stockholders' Agreement and Dolan Affiliates Agreement, clarifying registration and voting arrangements.
Negative
- None.
Insights
TL;DR: Transfer of all CFD 2009 Trust Class B shares and reconstitution of Dolan family group maintains concentrated voting power equal to all outstanding Class B shares.
The Amendment documents a notable reallocation of Class B economic and voting interests within the Dolan family structure without introducing outside parties. The transfer of 341,684 Class B shares and the addition of new trust members preserve collective control of 6,866,754 Class A-equivalent shares under Class B conversion rights and the Class B Stockholders' Agreement. For governance, this keeps high dual-class voting influence centralized among family trusts and affiliated trustees while updating registration and transfer restrictions and parties to the Dolan Affiliates Agreement.
TL;DR: The filing is material for investors: it discloses a 17.9% aggregate economic stake and intra-family transfers tied to promissory note repayment.
From an investor-disclosure standpoint, the Amendment clarifies current ownership metrics used by the issuer (40,593,104 Class A shares outstanding) and reports the valuation used for the share-for-note repayment ($41.54 per share). It also documents additional equity compensation to the CEO-level reporting person (James L. Dolan) and the timing of vesting events, which affect near-term potential dilution and share supply. The changes are administrative and familial in nature but are plainly material to voting and control analysis.
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
|
Madison Square Garden Entertainment Corp. (Name of Issuer) |
Class A Common Stock, par value $0.01 per share (Title of Class of Securities) |
558256103 (CUSIP Number) |
Samantha H. Crispin Baker Botts L.L.P., 30 Rockefeller Plaza New York, NY, 10112 212-408-2500 Quentin W. Wiest Baker Botts L.L.P., 30 Rockefeller Plaza New York, NY, 10112 212-408-2500 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
09/08/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
James L. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,066,559.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
7.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 4,622,450 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Thomas C. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,574,443.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
3.8 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 5,688,893 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Kathleen M. Dolan, individually and as Trustee of certain trusts described herein | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,693,478.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
8.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 3,369,687 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Marianne Dolan Weber | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,253,498.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
3.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 5,713,228 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Deborah A. Dolan-Sweeney | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,167,807.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
2.8 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 5,783,885 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Deborah A. Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Patrick F. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
58,022.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Corby Dolan Leinauer, as Trustee of certain trusts described herein | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,739,007.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
8.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 3,164,060 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Corby Dolan Leinauer disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Mary S. Dolan, as Trustee of certain trusts described herein | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
4,337,599.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
9.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Excludes 2,596,024 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Mary S. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Revocable Trust | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
0.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Revocable Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan Children Trust FBO Kathleen M. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
488,579.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,402,362 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
535,276.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,355,665 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan Children Trust FBO Marianne Dolan Weber | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
474,339.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,416,602 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan Children Trust FBO Thomas C. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
488,579.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,398,331 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan Children Trust FBO James L. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
960,498.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
2.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 5,950,598 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO James L. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,053,283.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
2.5 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 5,820,189 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
716,156.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,157,316 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
621,308.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.5 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,252,164 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
653,144.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.6 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,220,328 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
578,498.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,294,974 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
56,947.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Ryan Dolan 1989 Trust | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
7,659.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Ryan Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Tara Dolan 1989 Trust | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
7,659.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Tara Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
56,948.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,809,806 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| CUSIP No. | 558256103 |
| 1 |
Name of reporting person
Kathleen M. Dolan 2012 Descendants Trust | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
56,947.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Excludes 6,809,807 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Kathleen M. Dolan 2012 Descendants Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Class A Common Stock, par value $0.01 per share | |
| (b) | Name of Issuer:
Madison Square Garden Entertainment Corp. | |
| (c) | Address of Issuer's Principal Executive Offices:
TWO PENNSYLVANIA PLAZA, New York,
NEW YORK
, 10121. | |
Item 1 Comment:
This Amendment No. 5 to Schedule 13D ("Amendment No. 5") is being filed jointly by (i) the individuals (in their individual capacity and/or as trustee or co-trustee of specified trusts) and trusts listed in Item 2(a) below (the "Group Members") who may be deemed to beneficially own all of the shares of Class B Common Stock, par value $0.01 per share (the "Class B Common Stock"), of Madison Square Garden Entertainment Corp. (the "Issuer"), which shares of Class B Common Stock are convertible share for share at the option of the holder into Class A Common Stock of the Issuer, par value $0.01 per share (the "Class A Common Stock," and together with the Class B Common Stock, the "Common Stock"), and a certain number of shares of Class A Common Stock, in each case as described herein, (ii) certain trustees of such Group Members (the persons referred to in clauses (i) and (ii) collectively, the "Reporting Persons") and (iii) the Charles F. Dolan 2009 Revocable Trust (the "CFD 2009 Trust") to report, among other things, (a) that the CFD 2009 Trust is no longer a Group Member as a result of transferring all of its shares of Class B Common Stock to certain Group Members, (b) the addition of Patrick F. Dolan, the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan, the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and the Kathleen M. Dolan 2012 Descendants Trust as Group Members (the "New Group Members") and (c) changes to the Reporting Persons' beneficial ownership of Class A Common Stock as a result of certain matters, in each case, as described in Item 4.
The Schedule 13D filed by the original Reporting Persons on April 28, 2023 (the "Original Schedule 13D"), as amended and supplemented by Amendment No. 1 filed September 22, 2023, Amendment No. 2 filed March 19, 2024, Amendment No. 3 filed December 31, 2024 and Amendment No. 4, filed on February 4, 2025 (as amended, the "Schedule 13D"), is hereby amended and supplemented by the Reporting Persons as set forth below in this Amendment No. 5. | ||
| Item 2. | Identity and Background | |
| (a) | The disclosure in Item 2(a) is hereby amended and restated to read in its entirety as follows:
The names of the Reporting Persons who are Group Members are: James L. Dolan; Thomas C. Dolan; Kathleen M. Dolan, individually and as a Trustee of the Charles F. Dolan Children Trust FBO Kathleen M. Dolan, the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney, the Charles F. Dolan Children Trust FBO Marianne Dolan Weber, the Charles F. Dolan Children Trust FBO Thomas C. Dolan and the Charles F. Dolan Children Trust FBO James L. Dolan (hereinafter collectively referred to as the "Dolan Children Trusts" and individually, as a "Dolan Children Trust"), and as sole Trustee of the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust; Marianne Dolan Weber; Deborah A. Dolan-Sweeney; Patrick F. Dolan; the Dolan Children Trust FBO Kathleen M. Dolan; the Dolan Children Trust FBO Marianne Dolan Weber; the Dolan Children Trust FBO Deborah Dolan-Sweeney; the Dolan Children Trust FBO James L. Dolan; the Dolan Children Trust FBO Thomas C. Dolan; the Charles F. Dolan 2009 Family Trust FBO James L. Dolan; the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan; the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan; the Charles F. Dolan 2009 Family Trust FBO Marianne E. Dolan Weber; the Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney; the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan; the Ryan Dolan 1989 Trust; the Tara Dolan 1989 Trust; the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and the Kathleen M. Dolan 2012 Descendants Trust. The Reporting Persons also include Corby Dolan Leinauer, as a Trustee of the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan, the Charles F. Dolan 2009 Family Trust FBO James L. Dolan, the Charles F. Dolan 2009 Family Trust FBO Marianne E. Dolan Weber, the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan, the Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney, the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan (collectively, the "2009 Family Trusts" and individually, a "2009 Family Trust") and the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and Mary S. Dolan, as a Trustee of the Dolan Children Trust FBO Deborah Dolan-Sweeney, each of the 2009 Family Trusts, the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and the Kathleen M. Dolan 2012 Descendants Trust. | |
| (b) | The disclosure in Item 2(b) is hereby amended by removing the information related to the CFD 2009 Trust and adding the New Group Members at the end thereof as follows:
The business address of Patrick F. Dolan is c/o Dolan Family Office, attention: President, 340 Crossways Park Drive, Woodbury, New York 11797.
Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan is a trust established under the laws of the State of New York for the benefit of Patrick F. Dolan and has an address of c/o Dolan Family Office, attention: President, 340 Crossways Park Drive, Woodbury, New York 11797.
CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber is a trust established under the laws of the State of New York for the benefit of the descendants of Marianne Dolan Weber and has an address of c/o MLC Ventures LLC, Attention: Richard Baccari, PO Box 1014, Yorktown Heights, New York 10598.
Kathleen M. Dolan 2012 Descendants Trust is a trust established under the laws of the State of Vermont for the benefit of the descendants of Kathleen M. Dolan and has an address of c/o MLC Ventures LLC, Attention: Richard Baccari, PO Box 1014, Yorktown Heights, New York 10598. | |
| (c) | The disclosure in Item 2(c) is hereby amended by adding the following at the end thereof:
Patrick F. Dolan is a director of AMC Networks Inc. ("AMC"). AMC's principal business address is 11 Penn Plaza, New York, New York 10001. | |
| (d) | The disclosure in Item 2(d) is hereby amended by adding the following at the end thereof:
No New Group Member has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). | |
| (e) | The disclosure in Item 2(e) is hereby amended by adding the following at the end thereof:
No New Group Members has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. | |
| (f) | The disclosure in Item 2(f) is hereby amended by adding the following at the end thereof:
Patrick F. Dolan is a citizen of the United States. The New Group Members that are trusts are organized in the jurisdiction set forth in Item 2(b). | |
| Item 3. | Source and Amount of Funds or Other Consideration | |
The disclosure in Item 3 is hereby amended by adding the following at the end thereof:
On September 8, 2025, the CFD 2009 Trust transferred an aggregate of 341,684 shares of Class B Common Stock to certain Group Members, as indicated in the table below, in partial repayment of promissory notes. The transferred shares constituted all of the shares of Common Stock held by the CFD 2009 Trust. For purposes of repayment of the promissory notes, the transferred 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.
Number of Shares of Class B
Common Stock Transferred
Transferee to Transferee
James L. Dolan 56,947
Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan 56,948
Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan 56,947
Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney 10,250
Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney 46,697
CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber 56,948
Kathleen M. Dolan 2012 Descendants Trust 56,947 | ||
| Item 4. | Purpose of Transaction | |
The disclosure in Item 4 is hereby amended by adding the following at the end thereof:
The information contained in Item 3 of this Amendment No. 5 is incorporated by reference. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | The disclosure in Items 5(a) and (b) is hereby amended and supplemented as follows:
(a) and (b) As of September 8, 2025, the Group Members may be deemed to beneficially own an aggregate of 8,552,403 shares of Class A Common Stock as a result of their beneficial ownership of (i) 1,685,649 shares of Class A Common Stock (inclusive of exercisable options, restricted stock units and performance restricted stock units vesting within 60 days of the date hereof and shares held by the Dolan Family Foundation, for which certain Group Members serve as director), and (ii) 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 17.9% of the total shares of the Common Stock deemed to be currently outstanding. Group Members in the aggregate may be deemed to have the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock (representing all outstanding Class B Common Stock) because of the terms of the Class B Stockholders' Agreement (as previously defined in the Schedule 13D). Reporting Persons and individuals who are not Group Members but are trustees of trusts that are Group Members may be deemed to beneficially own an additional 73,493 shares of Class A Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities held by the other Reporting Persons, and this report shall not be deemed to be an admission that any such person is the beneficial owner of such securities.
The percentages used herein with respect to the ownership of Class A Common Stock are calculated based on 40,593,104 outstanding shares of Class A Common Stock as of July 31, 2025, as reported by the Issuer in its Annual Report on Form 10-K that was filed with the SEC on August 13, 2025.
See the responses to Items 7 through 13 of each cover page to this Amendment No. 5, which are incorporated by reference. See Exhibit A for supplemental information regarding the beneficial ownership of Class A Common Stock by the Group Members and other individuals who are not Group Members but are trustees of trusts that are Group Members. See Exhibit B for additional information regarding the Reporting Persons that are trusts. | |
| (b) | See Item 5(a) above, Exhibit A and Exhibit B. | |
| (c) | On August 25, 2025, James L. Dolan received grants of 113,218 restricted stock units and 113,218 performance restricted stock units under the Madison Square Garden Entertainment Corp. 2023 Employee Stock Plan that, in each case, represents the right to receive Class A Common Stock or the cash equivalent thereof. The 113,218 restricted stock units are scheduled to vest and settle in three equal installments on September 15, 2026, September 15, 2027 and September 15, 2028. The 113,218 performance restricted stock units will cliff vest after three years, subject to the satisfaction of certain performance conditions. In addition, on August 25, 2025, the performance conditions were satisfied for a grant of performance restricted stock units James L. Dolan received on April 20, 2023 under the Madison Square Garden Entertainment Corp. 2023 Employee Stock Plan, which performance restricted stock units represent the right to receive Class A Common Stock or the cash equivalent thereof. As a result of the satisfaction of the performance conditions, 100,429 performance restricted stock units are scheduled to vest and settle on September 15, 2025. Except for such transactions and the other transactions disclosed in this Amendment No. 5, there were no transactions in the Class A Common Stock effected during the past sixty days by the persons named in response to Item 5(a). | |
| (e) | As further described in Item 3, as of September 8, 2025, the CFD 2009 Trust ceased to be a beneficial owner of Common Stock and a Group Member. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
The disclosure in the section of Item 6 entitled "THE CLASS B STOCKHOLDERS' AGREEMENT" is hereby amended by adding the following sentence after the last paragraph of such subsection:
As of September 8, 2025, the CFD 2009 Trust ceased to be a party to the Class B Stockholders' Agreement and the New Group Members became parties to such agreement.
The disclosure in the section of Item 6 entitled "REGISTRATION RIGHTS AGREEMENTS" is hereby amended by adding the following sentence after the last paragraph of such subsection:
As of September 8, 2025, the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan, the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney, the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and the Kathleen M. Dolan 2012 Descendants Trust each became a party to the Dolan Affiliates Agreement with respect to the shares of Class B Common Stock received from the CFD 2009 Trust, provided that the shares of Class B Common Stock received by the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney are subject to the additional restrictions contained in the Dolan Children Trusts Agreement. | ||
| Item 7. | Material to be Filed as Exhibits. | |
The disclosure in Item 7 is hereby amended by replacing all exhibits in the series of exhibits related to Exhibit A and Exhibit B and adding Exhibit C.3 and Exhibit D in appropriate order as follows:
Exhibit A: Supplemental Beneficial Ownership Information
Exhibit B: Amended and Restated Trust and Beneficiary List
Exhibit C.3: Power of Attorney for each of Patrick F. Dolan, the Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan, the CFD 2010 Grandchildren Trust FBO Descendants of Marianne E. Dolan Weber and the Kathleen M. Dolan 2012 Descendants Trust
Exhibit D: Joint Filing Agreement, dated September 10, 2025. | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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FAQ
What stake does the Dolan family group report in MSGE after Amendment No. 5?
The Group Members may be deemed to beneficially own 8,552,403 shares of Class A Common Stock, representing approximately 17.9% of Class A shares outstanding.
What happened to the Charles F. Dolan 2009 Revocable Trust in this filing?
On September 8, 2025 the CFD 2009 Trust transferred all of its Class B Common Stock (341,684 shares) to other Group Members and ceased to be a Group Member.
What valuation was used for the share transfer repaying promissory notes?
The transferred Class B shares were valued at $41.54 per share, the mean of the high and low trading price for Class A Common Stock on September 8, 2025.
Did any equity awards vest for reporting persons?
Yes. James L. Dolan received 113,218 RSUs and 113,218 PRSUs on August 25, 2025, and 100,429 PRSUs that satisfied performance conditions are scheduled to vest and settle on September 15, 2025.
How many Class A shares outstanding did the filing use to calculate percentages?
Percentages are calculated using 40,593,104 outstanding shares of Class A Common Stock as of July 31, 2025, per the issuer's Annual Report.
MADISON SQUARE GRDN ENTERTNMNT
NYSE:MSGE
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2.81B
38.79M
3.4%
100.99%
3.55%
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United States
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