MSG Sports exec acquires 158 shares in award vesting

MSGS director and Rangers President & COO Quentin F. Dolan settled RSU and PSU awards, with part of the resulting Class A shares withheld to cover taxes.

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. (MSGS) reported that Quentin F. Dolan, President & COO of the New York Rangers and a director of MSGS, exercised and settled equity awards on September 15, 2026. He acquired a total of 158 shares of Class A Common Stock upon the vesting and settlement of Restricted Stock Units and Performance Restricted Stock Units granted under the 2015 Employee Stock Plan. In connection with these vestings, 86 shares of Class A Common Stock were delivered or withheld to satisfy tax withholding obligations, with a reported tax-withholding price of $393.27 per share, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

158 shares exercised/converted

Exercise 8 txns

Insider DOLAN QUENTIN F

Role President & COO, NY Rangers

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F1	28	$0.00	$0.00
Exercise	Restricted Stock Units F2	50	$0.00	$0.00
Exercise	Performance Restricted Stock Units F4	80	$0.00	$0.00
Exercise	Class A Common Stock F1	28	$0.00	$0.00
Exercise	Class A Common Stock F2	50	$0.00	$0.00
Tax Withholding	Class A Common Stock F3	42	$393.27	$17K
Exercise	Class A Common Stock F4	80	$0.00	$0.00
Tax Withholding	Class A Common Stock F5	44	$393.27	$17K

Holdings After Transaction: Restricted Stock Units — 50 contracts (Direct); Performance Restricted Stock Units — 0 contracts (Direct); Class A Common Stock — 441 shares (Direct)

Footnotes (5)

1. F1. 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 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. 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.
4. F4. Each performance restriced stock unit ("PSU") was granted on April 25, 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. The performance conditions were satisfied on August 26, 2026 and the PSUs vested and were settled on September 15, 2026.
5. F5. Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 4, exempt under Rule 16b-3.

Key Figures

Shares acquired via RSU vesting (grant April 25, 2024): 28 shares Shares acquired via RSU vesting (grant August 29, 2024): 50 shares Shares acquired via PSU vesting: 80 shares +3 more

6 metrics

Shares acquired via RSU vesting (grant April 25, 2024) 28 shares One-third of RSUs vested and settled on September 15, 2026 into Class A Common Stock

Shares acquired via RSU vesting (grant August 29, 2024) 50 shares One-third of RSUs vested and settled on September 15, 2026 into Class A Common Stock

Shares acquired via PSU vesting 80 shares PSUs vested and settled on September 15, 2026 after performance conditions satisfied August 26, 2026

RSU tax-withholding shares 42 shares RSUs withheld to satisfy tax withholding obligations related to RSU vesting

PSU tax-withholding shares 44 shares PSUs withheld to satisfy tax withholding obligations related to PSU vesting

Tax-withholding price per share $393.27 per share Applied to 42 RSU shares and 44 PSU shares used to satisfy tax obligations

Key Terms

Restricted Stock Units, Performance Restricted Stock Units, tax withholding obligations, Rule 16b-3, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") was granted on April 25, 2024"

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 Restricted Stock Units financial

"Each performance restriced stock unit ("PSU") was granted"

Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.

tax withholding obligations financial

"withheld to satisfy tax withholding obligations in connection with the vesting"

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.

2015 Employee Stock Plan financial

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

FAQ

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

What insider transactions did MSGS executive Quentin F. Dolan report on this Form 4?

He reported the vesting and settlement of Restricted Stock Units and Performance Restricted Stock Units into Class A Common Stock on September 15, 2026, along with share dispositions used to satisfy tax withholding obligations related to those awards.

How many MSGS Class A shares were acquired through equity award vesting?

Equity award vesting and settlement resulted in the acquisition of 158 shares of MSGS Class A Common Stock, consisting of 28 shares from one RSU grant, 50 shares from a second RSU grant, and 80 shares from Performance Restricted Stock Units.

How many MSGS shares were used to cover taxes in this Form 4?

A total of 86 shares of MSGS Class A Common Stock were delivered or withheld to satisfy tax withholding obligations: 42 RSUs related to RSU vestings and 44 PSUs related to PSU vesting, each priced at $393.27 per share for tax purposes.

Were Quentin F. Dolan’s MSGS transactions made under a Rule 10b5-1 plan?

No. The filing indicates no Rule 10b5-1 trading plan for these transactions. The equity awards vested according to their grant terms under the 2015 Employee Stock Plan, and the related tax-withholding share dispositions were exempt under Rule 16b-3 as described in the footnotes.

What MSGS equity awards vested for Quentin F. Dolan on September 15, 2026?

On September 15, 2026, one-third of certain RSUs granted on April 25, 2024 and August 29, 2024 vested and settled, and Performance Restricted Stock Units granted on April 25, 2024 vested and settled after performance conditions were satisfied on August 26, 2026.

What price per share was used for the MSGS tax-withholding share dispositions?

The share dispositions used to satisfy tax withholding obligations were reported at $393.27 per share for MSGS Class A Common Stock, applied to 42 RSU-related shares and 44 PSU-related shares withheld in connection with the vesting events.

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^*

DOLAN QUENTIN F

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & COO, NY Rangers

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		28	A	$0(1)	397	D
Class A Common Stock	09/15/2026		M		50	A	$0(2)	447	D
Class A Common Stock	09/15/2026		F(3)		42	D	$393.27	405	D
Class A Common Stock	09/15/2026		M		80	A	$0(4)	485	D
Class A Common Stock	09/15/2026		F(5)		44	D	$393.27	441	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			28	(1)	09/15/2026	Class A Common Stock	28	$0	0	D
Restricted Stock Units	(2)	09/15/2026		M			50	(2)	09/15/2027	Class A Common Stock	50	$0	50	D
Performance Restricted Stock Units	(4)	09/15/2026		M			80	(4)	09/15/2026	Class A Common Stock	80	$0	0	D

Explanation of Responses:

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 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. 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.

4. Each performance restriced stock unit ("PSU") was granted on April 25, 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. The performance conditions were satisfied on August 26, 2026 and the PSUs vested and were settled on September 15, 2026.

5. Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 4, exempt under Rule 16b-3.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Quentin F. Dolan	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)