MSG Sports CEO exercises 33K shares, tax withheld
MSGS’s CEO exercised RSUs and PSUs into 33,309 Class A shares, with 18,417 shares withheld to cover taxes and certain family holdings reported as indirectly owned.
Rhea-AI Filing Summary
Madison Square Garden Sports Corp. (MSGS) reported that Executive Chairman and CEO James L. Dolan exercised equity awards and related share withholdings on September 15, 2026. He converted 33,309 derivative units (RSUs and PSUs) into an equal number of Class A Common shares and had 18,417 shares withheld at $393.27 per share to cover tax obligations. The filing also lists indirect holdings of 5,011 shares held by his spouse and 491 shares held by minor children and household members, which he disclaims beneficial ownership of except for any direct pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
33,309 shares exercised/converted
Exercise
12 txns
Insider
DOLAN JAMES LAWRENCE
Role
Executive Chairman / CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1 | 5,179 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3 | 6,488 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F4 | 6,508 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F6 | 15,134 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1, F2 | 5,179 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F3, F2 | 6,488 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F4, F2 | 6,508 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F5, F2 | 10,048 | $393.27 | $3.95M |
| Exercise | Class A Common Stock F6, F2 | 15,134 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F7, F2 | 8,369 | $393.27 | $3.29M |
| holding | Class A Common Stock F8 | -- | -- | -- |
| holding | Class A Common Stock F9 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 19,506 contracts (Direct);
Performance Restricted Stock Units — 0 contracts (Direct);
Class A Common Stock — 204,921 shares (Direct);
Class A Common Stock — 5,011 shares (Indirect, By Spouse);
Class A Common Stock — 491 shares (Indirect, By Minor Children and Household Members)
Footnotes (9)
- F1. Each restricted stock unit ("RSU") was granted on August 28, 2023 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 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 29, 2024 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, 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 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.
- F5. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 3 and 4, exempt under Rule 16b-3.
- F6. Each performance restriced stock unit ("PSU") was granted on August 28, 2023 under the 2015 Employee Stock Plan and represents a right to receive one share of 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 MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 6, exempt under Rule 16b-3.
- F8. Securities held directly 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 MSGS beneficially owned and deemed to be beneficially owned by his minor children and household members and this filing shall not be deemed 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
Derivative units exercised: 33,309 units
Shares acquired from exercises: 33,309 shares
Shares withheld for taxes: 18,417 shares
+4 more
7 metrics
Derivative units exercised
33,309 units
RSUs and PSUs converted into Class A Common Stock on September 15, 2026
Shares acquired from exercises
33,309 shares
Class A Common Stock received upon RSU and PSU exercises on September 15, 2026
Shares withheld for taxes
18,417 shares
Class A Common Stock withheld to satisfy tax withholding obligations
Tax withholding price
$393.27 per share
Price used for code F tax-withholding transactions in MSGS Class A Common
Performance RSUs vested
15,134 units
PSUs granted August 28, 2023 that vested and settled on September 15, 2026
Indirect spouse holdings
5,011 shares
Class A Common Stock held by James L. Dolan’s spouse, with beneficial ownership disclaimed
Indirect minor/household holdings
491 shares
Class A Common Stock held by minor children and household members, with beneficial ownership disclaimed
Key Terms
Restricted Stock Units, Performance restriced stock unit, Rule 16b-3, Section 16
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") was granted on August 28, 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 restriced stock unit financial
"Each performance restriced stock unit ("PSU") was granted on August 28, 2023"
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 MSGS CEO James L. Dolan exercise on September 15, 2026?
On September 15, 2026, James L. Dolan exercised 33,309 equity derivative units, consisting of restricted stock units and performance restricted stock units, into an equal number of Class A Common shares of Madison Square Garden Sports Corp. (MSGS).
Were James L. Dolan’s MSGS transactions under a Rule 10b5-1 plan?
No. The Form 4 for Madison Square Garden Sports Corp. (MSGS) indicates no Rule 10b5-1 trading plan for these transactions; the Rule 10b5-1 checkbox is not marked as an affirmatively adopted plan.
What is the nature of the tax-withholding transactions in MSGS stock for James L. Dolan?
Two code F transactions show 10,048 and 8,369 Class A MSGS shares withheld at $393.27 per share to satisfy tax withholding obligations related to the vesting of RSUs and PSUs, as described in the related footnotes.
What performance-based awards in MSGS stock vested for James L. Dolan?
Performance restricted stock units granted on August 28, 2023, representing 15,134 Class A shares of MSGS, had performance conditions satisfied on August 26, 2026 and vested and settled into shares on September 15, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
