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

MSG Sports legal chief sells 628 shares at $393.77

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. (MSGS) reported that officer Bryan Warner, SVP and Head of Legal, exercised and settled previously granted restricted stock units into a total of 708 shares of Class A Common Stock on September 15, 2026, from awards granted in April and August 2025 under the 2015 Employee Stock Plan. Of these, 254 shares were withheld to satisfy tax withholding obligations in connection with the vesting, and on September 16, 2026 he separately sold 628 shares of Class A Common Stock in open market or private transactions at $393.77 per share. No Rule 10b5-1 trading plan is reported for these transactions.

Positive

  • None.

Negative

  • None.
Insider Warner Bryan
Role SVP, Head of Legal
Sold 628 shs ($247K)
Approx. gross sale proceeds $247K
Type Security Shares Price Value
Sale Class A Common Stock 628 $393.77 $247K
Exercise Restricted Stock Units F1 291 $0.00 $0.00
Exercise Restricted Stock Units F2 417 $0.00 $0.00
Exercise Class A Common Stock F1 291 $0.00 $0.00
Exercise Class A Common Stock F2 417 $0.00 $0.00
Tax Withholding Class A Common Stock F3 254 $393.27 $100K
Holdings After Transaction: Restricted Stock Units — 1,127 contracts (Direct); Class A Common Stock — 0 shares (Direct)
Footnotes (3)
  1. F1. Each restricted stock unit ("RSU") was granted on April 23, 2025 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 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 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.
  2. F2. Each RSU was granted on August 21, 2025 under the 2015 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, 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.
  3. F3. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1 and 2, exempt under Rule 16b-3.
Shares sold 628 shares Class A Common Stock sale on September 16, 2026
Sale price per share $393.77 per share Class A Common Stock sale on September 16, 2026
RSUs settled into shares 708 shares Exercise and settlement of RSUs into Class A Common Stock on September 15, 2026
Shares withheld for taxes 254 shares RSUs withheld to satisfy tax withholding obligations on September 15, 2026
RSUs settled from April 23, 2025 grant 291 shares One-third of RSUs from April 23, 2025 grant vested and settled on September 15, 2026
RSUs settled from August 21, 2025 grant 417 shares One-third of RSUs from August 21, 2025 grant vested and settled on September 15, 2026
Restricted Stock Units financial
"Each restricted stock unit ("RSU") was granted on April 23, 2025 under the Madison"
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.
2015 Employee Stock Plan financial
"under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan"
tax withholding obligations financial
"withheld to satisfy tax withholding obligations in connection with the vesting of RSUs"
Rule 16b-3 regulatory
"withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1 and 2, 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did MSGS officer Bryan Warner report on this Form 4?
Bryan Warner reported exercising and settling 708 RSUs into Class A Common Stock on September 15, 2026, with 254 shares withheld for taxes, and then selling 628 shares of Class A Common Stock on September 16, 2026 in an open market or private transaction.

How many Madison Square Garden Sports (MSGS) shares did Bryan Warner sell and at what price?
Bryan Warner sold 628 shares of MSGS Class A Common Stock on September 16, 2026 at a price of $393.77 per share in a sale described as an open market or private transaction.

What RSU awards did Bryan Warner exercise in the MSGS Form 4 filing?
He exercised RSUs granted on April 23, 2025 and August 21, 2025 under the MSGS 2015 Employee Stock Plan, settling 291 shares from the April grant and 417 shares from the August grant into Class A Common Stock on September 15, 2026.

How many MSGS shares were withheld for taxes in Bryan Warner’s RSU vesting?
The filing states that 254 shares of MSGS Class A Common Stock, representing RSUs, were withheld to satisfy tax withholding obligations in connection with the RSU vesting, in a transaction coded as payment of tax liability by delivering or withholding securities.

Were Bryan Warner’s MSGS transactions made under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox for Bryan Warner’s transactions is not checked, and there is no footnote stating that the sale or RSU settlements were made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

What future vesting remains on Bryan Warner’s MSGS RSU grants?
For the April 23, 2025 grant, one-third of the RSUs are scheduled to vest and settle on September 15, 2027. For the August 21, 2025 grant, one-third is scheduled to vest on September 15, 2027 and the remaining one-third on September 15, 2028.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Warner Bryan
(Last)(First)(Middle)
2 PENNSYLVANIA PLAZA
(Street)
NEW YORK NEW YORK 10121
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Madison Square Garden Sports Corp. [ MSGS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
SVP, Head of Legal
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class A Common Stock09/15/2026M291A$0(1)465D
Class A Common Stock09/15/2026M417A$0(2)882D
Class A Common Stock09/15/2026F(3)254D$393.27628D
Class A Common Stock09/16/2026S628D$393.770D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)09/15/2026M291 (1)09/15/2026Class A Common Stock291$0292D
Restricted Stock Units(2)09/15/2026M417 (2)09/15/2028Class A Common Stock417$0835D
Explanation of Responses:
1. Each restricted stock unit ("RSU") was granted on April 23, 2025 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 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 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.
2. Each RSU was granted on August 21, 2025 under the 2015 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, 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.
3. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1 and 2, exempt under Rule 16b-3.
/s/ Mark C. Cresitello, Attorney-in-Fact for Bryan Warner09/17/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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