Quentin Dolan Reports RSU Vesting and Withholding on MSGS Form 4
Rhea-AI Filing Summary
Madison Square Garden Sports Corp. (MSGS) - Form 4 summary. Quentin F. Dolan, a director, reported transactions on 09/15/2025 showing vesting and settlement activity for restricted stock units (RSUs) granted under MSGS's 2015 Employee Stock Plan. RSUs granted April 25, 2024 and August 29, 2024 partially vested and were settled on or about 09/15/2025, with portions previously settled on 09/13/2024 and future tranches scheduled to vest in 2026 and 2027.
The filing shows withheld shares to satisfy tax obligations in connection with the RSU vesting, and provides post-transaction beneficial ownership counts of Class A common stock of 353, 403, and 369 shares for the respective reported lines. The form is signed by an attorney-in-fact for Mr. Dolan on 09/17/2025.
Positive
- RSU vesting occurred as scheduled, with tranches from April 25, 2024 and August 29, 2024 settled on 09/15/2025.
- Tax withholding satisfied via share withholding, disclosed and claimed exempt under Rule 16b-3.
- Post-transaction beneficial ownership disclosed with specific Class A share counts (353, 403, and 369) reported.
Negative
- Share withholding reduced delivered shares, reflected as dispositions (shares withheld for taxes).
- Holdings are modest in absolute terms, suggesting limited insider share exposure disclosed on this Form 4.
Insights
TL;DR: Director RSUs vested and were settled; tax-withholding reduced delivered shares but overall holdings remain modest.
The Form 4 documents routine equity compensation activity rather than market-moving trades. Two grants (April 25, 2024 and August 29, 2024) had one-third tranches that vested and settled on 09/15/2025. Some RSUs were withheld to satisfy taxes, which appears as dispositions rather than open-market sales. The post-transaction beneficial ownership figures reported are low hundreds of Class A shares, indicating limited direct insider exposure relative to large-cap standards.
TL;DR: This filing reflects standard executive compensation vesting and compliant tax withholding under Rule 16b-3.
The disclosure indicates grants under the 2015 Employee Stock Plan with scheduled vesting through 2027. The filer cites exemption under Rule 16b-3 for withheld shares used to satisfy tax obligations, which is customary. No indications of derivative exercises, open-market purchases, or other atypical related-party transactions are present in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 27 | $0.00 | -- |
| Exercise | Restricted Stock Units | 50 | $0.00 | -- |
| Exercise | Class A Common Stock | 27 | $0.00 | -- |
| Exercise | Class A Common Stock | 50 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 34 | $210.95 | $7K |
Footnotes (1)
- Each restricted stock unit ("RSU") was granted on April 25, 2024 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 Employe 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 are scheduled to vest and settle on September 15, 2026. 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 are scheduled to vest and settle on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027. 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.
