MSG Sports COO settles 5,804 stock units

MSGS’s chief operating officer settled vested RSUs and performance RSUs into shares, with a portion withheld to cover tax obligations.

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. (MSGS) reported that Chief Operating Officer Jamaal T. Lesane exercised and settled equity awards on September 15, 2026. He converted a total of 5,804 RSUs and performance RSUs into the same number of shares of Class A Common Stock, reflecting scheduled vesting under the company’s 2015 Employee Stock Plan and satisfaction of performance conditions.

In connection with these vestings, 3,208 shares of Class A Common Stock were withheld to satisfy tax withholding obligations at $393.27 per share, as permitted under Rule 16b-3.

Insider Trade Summary

5,804 shares exercised/converted

Exercise 10 txns

Insider Lesane Jamaal T

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F1	843	$0.00	$0.00
Exercise	Restricted Stock Units F2	1,248	$0.00	$0.00
Exercise	Restricted Stock Units F3	1,251	$0.00	$0.00
Exercise	Performance Restricted Stock Units F5	2,462	$0.00	$0.00
Exercise	Class A Common Stock F1	843	$0.00	$0.00
Exercise	Class A Common Stock F2	1,248	$0.00	$0.00
Exercise	Class A Common Stock F3	1,251	$0.00	$0.00
Tax Withholding	Class A Common Stock F4	1,847	$393.27	$726K
Exercise	Class A Common Stock F5	2,462	$0.00	$0.00
Tax Withholding	Class A Common Stock F6	1,361	$393.27	$535K

Holdings After Transaction: Restricted Stock Units — 3,752 contracts (Direct); Performance Restricted Stock Units — 0 contracts (Direct); Class A Common Stock — 8,938 shares (Direct)

Footnotes (6)

1. 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.
2. F2. 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.
3. F3. 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.
4. F4. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 2 and 3, exempt under Rule 16b-3.
5. F5. 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.
6. F6. Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 5, exempt under Rule 16b-3.

Key Figures

RSUs and PSUs converted: 5,804 shares RSUs settled: 3,342 shares Performance RSUs settled: 2,462 shares +3 more

6 metrics

RSUs and PSUs converted 5,804 shares Total RSUs and performance RSUs settled into Class A Common Stock on September 15, 2026

RSUs settled 3,342 shares RSUs from 2023, 2024, and 2025 grants vested and settled on September 15, 2026

Performance RSUs settled 2,462 shares Performance RSUs with conditions satisfied on August 26, 2026, vested and settled on September 15, 2026

Shares withheld for RSU taxes 1,847 shares Class A Common Stock withheld to satisfy tax obligations on RSU vesting, at $393.27 per share

Shares withheld for PSU taxes 1,361 shares Class A Common Stock withheld to satisfy tax obligations on performance RSU vesting, at $393.27 per share

Tax withholding price $393.27 per share Price used for shares withheld to satisfy tax withholding obligations

Key Terms

Restricted Stock Units, performance restriced stock unit, 2015 Employee Stock Plan, Rule 16b-3

4 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") was granted on August 28, 2023 under"

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"

2015 Employee Stock Plan financial

"under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan"

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.

FAQ

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

What equity awards did MSGS COO Jamaal T. Lesane settle on September 15, 2026?

On September 15, 2026, Jamaal T. Lesane settled 5,804 equity awards of Madison Square Garden Sports Corp. (MSGS), including RSUs and performance RSUs, into the same number of shares of Class A Common Stock upon scheduled vesting and satisfaction of performance conditions.

How many MSGS RSUs vested and settled for the COO in this Form 4?

A total of 3,342 RSUs vested and were settled into Class A Common Stock for MSGS’s COO: 843 RSUs from an August 28, 2023 grant, 1,248 RSUs from an August 29, 2024 grant, and 1,251 RSUs from an August 21, 2025 grant.

How many MSGS performance RSUs vested for the COO and when were conditions met?

Jamaal T. Lesane had 2,462 performance RSUs vest and settle into Class A Common Stock. The filing states that performance conditions for these units were satisfied on August 26, 2026, and the awards vested and were settled on September 15, 2026.

How many MSGS shares were withheld to cover the COO’s tax obligations?

To satisfy tax withholding obligations tied to the vesting of RSUs and performance RSUs, 3,208 shares of MSGS Class A Common Stock were withheld: 1,847 shares related to RSUs and 1,361 shares related to performance RSUs, each at a price of $393.27 per share.

Were MSGS COO’s September 15, 2026 transactions under a Rule 10b5-1 plan?

The Form 4 indicates that the Rule 10b5-1 checkbox is not marked, and the footnotes describe vesting and tax withholding mechanics only. The transactions are reported as equity award vestings and related tax withholding, not as trades under a pre-arranged Rule 10b5-1 plan.

Did the MSGS COO sell any shares in the open market in this Form 4?

The filing reports no open-market sales. It shows shares of Class A Common Stock acquired upon vesting of RSUs and performance RSUs, and 3,208 shares withheld to satisfy tax withholding obligations, characterized as payment of tax liability by delivering or withholding securities.

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

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Available on EDGAR 09/17/2026 - 04:05 PM Accepted by SEC EDGAR 09/17/2026 - 04:05 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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^*

Lesane Jamaal T

(Last) (First) (Middle)

TWO PENN 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/15/2026		M		843	A	$0(1)	7,185	D
Class A Common Stock	09/15/2026		M		1,248	A	$0(2)	8,433	D
Class A Common Stock	09/15/2026		M		1,251	A	$0(3)	9,684	D
Class A Common Stock	09/15/2026		F(4)		1,847	D	$393.27	7,837	D
Class A Common Stock	09/15/2026		M		2,462	A	$0(5)	10,299	D
Class A Common Stock	09/15/2026		F(6)		1,361	D	$393.27	8,938	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/15/2026		M			843	(1)	09/15/2026	Class A Common Stock	843	$0	0	D
Restricted Stock Units	(2)	09/15/2026		M			1,248	(2)	09/15/2027	Class A Common Stock	1,248	$0	1,248	D
Restricted Stock Units	(3)	09/15/2026		M			1,251	(3)	09/15/2028	Class A Common Stock	1,251	$0	2,504	D
Performance Restricted Stock Units	(5)	09/15/2026		M			2,462	(5)	09/15/2026	Class A Common Stock	2,462	$0	0	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

4. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 2 and 3, exempt under Rule 16b-3.

5. 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.

6. Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 5, exempt under Rule 16b-3.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Jamaal Lesane	09/17/2026
	** Signature of Reporting Person	Date
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)