MSG Sports (NYSE: MSGS) CEO repaid loan with Class B stock

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. Executive Chairman and CEO James L. Dolan reported an insider transaction involving Class B Common Stock. On February 20, 2026, he received 37,406 Class B shares as partial repayment of a promissory note, valued at $326.83 per share for repayment purposes.

After this transaction, Dolan directly held 51,451 Class B shares, which are convertible on a one-for-one basis into Class A Common Stock. The filing also lists his spouse, Kristin A. Dolan, who expressly disclaims beneficial ownership of these securities.

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

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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 JAMES LAWRENCE

(Last) (First) (Middle)

TWO PENNSYLVANIA PLAZA

(Street)

NEW YORK NY 10121

(City) (State) (Zip)

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)	X	Other (specify below)
	Executive Chairman / CEO		Member of 13(d) Group

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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

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
Class B Common Stock	(1)	02/20/2026		J(2)		37,406		(1)	(1)	Class A Common Stock	37,406	(2)	51,451	D(3)

1. Name and Address of Reporting Person^*

DOLAN JAMES LAWRENCE

(Last) (First) (Middle)

TWO PENNSYLVANIA PLAZA

(Street)

NEW YORK NY 10121

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Executive Chairman / CEO		Member of 13(d) Group

1. Name and Address of Reporting Person^*

Dolan Kristin A

(Last) (First) (Middle)

TWO PENNSYLVANIA PLAZA

(Street)

NEW YORK NY 10121

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 13(d) Group

Explanation of Responses:

1. Madison Square Garden Sports Corp. Class B Common Stock ("Class B Common Stock") is convertible at the option of the holder on a share for share basis into Madison Square Garden Sports Corp. Class A Common Stock ("Class A Common Stock").

2. On February 20, 2026, James L. Dolan received the shares of Class B Common Stock in partial repayment of a promissory note. For purposes of the repayment, the shares were valued at $326.83 per share, the mean of the high and low trading price for the Class A Common Stock on February 20, 2026.

3. Securities held directly by James L. Dolan, Kristin A. Dolan's spouse. Ms. Dolan disclaims beneficial ownership of these securities, and this filing shall not be deemed an admission that Ms. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.

	/s/ James L. Dolan	02/24/2026
	/s/ Kristin A. Dolan	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did MSGS CEO James Dolan report on this Form 4?

James L. Dolan reported receiving 37,406 shares of Madison Square Garden Sports Corp. Class B Common Stock. The shares were received as partial repayment of a promissory note, rather than a market purchase, and are documented as an “other transaction” on the Form 4.

How were the MSGS Class B shares valued in James Dolan’s Form 4 transaction?

For the repayment, the 37,406 Class B shares were valued at $326.83 per share. This value reflects the mean of the high and low trading prices of Madison Square Garden Sports Corp. Class A Common Stock on February 20, 2026, as described in the filing footnotes.

What is the relationship between MSGS Class B and Class A Common Stock?

The Class B Common Stock reported is convertible into Class A Common Stock on a share-for-share basis at the holder’s option. This means each Class B share James L. Dolan holds can be turned into one Class A share under the terms disclosed in the Form 4 footnotes.

How many MSGS Class B shares does James Dolan hold after this transaction?

After receiving the 37,406 Class B shares as partial note repayment, James L. Dolan directly holds 51,451 shares of Class B Common Stock. This updated total holding is explicitly stated as the amount beneficially owned following the reported transaction on the Form 4.

What role does Kristin A. Dolan have in this MSGS Form 4 filing?

Kristin A. Dolan is listed as a reporting person because she is James L. Dolan’s spouse and a member of a 13(d) group. However, she disclaims beneficial ownership of the reported securities, and the filing notes this is not an admission of such ownership.

Why is James Dolan’s MSGS Form 4 transaction coded as “J”?

The transaction is coded “J” to indicate an “other acquisition or disposition” under Form 4 rules. In this case, James L. Dolan received the Class B shares as partial repayment of a promissory note, rather than through a typical open-market buy or sell transaction.