Madison Square Garden Sports (NYSE: MSGS) trust gets 11,000 shares

Rhea-AI Filing Summary

Madison Square Garden Sports Corp. reported that the CFD 2021 GC Trust FBO Kevyn A. Dolan received 11,000 shares of Class B Common Stock on February 20, 2026 in an “other” type transaction.

According to the disclosure, the shares were delivered as partial repayment of a promissory note and were valued at $326.83 per share, based on the mean of the high and low trading prices of the company’s Class A Common Stock on that date. The Class B shares are convertible into Class A shares on a one-for-one basis at the holder’s option.

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

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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^*

CFD 2021 GC Trust FBO Kevyn A. Dolan

(Last) (First) (Middle)

C/O DOLAN FAMILY OFFICE

340 CROSSWAYS PARK DRIVE

(Street)

WOODBURY NY 11797

(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)

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

X	Form filed by One Reporting Person
	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)		11,000		(1)	(1)	Class A Common Stock	11,000	(2)	11,000	D

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 Sports Corp. Class A Common Stock ("Class A Common Stock").

2. On February 20, 2026, the Reporting Person 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.

	CFD 2021 GC TRUST FBO KEVYN A. DOLAN By: /s/ Brian G. Sweeney, Attorney-in-fact	02/24/2026
	** 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.

FAQ

What insider transaction did MSGS report for CFD 2021 GC Trust?

Madison Square Garden Sports Corp. reported that CFD 2021 GC Trust FBO Kevyn A. Dolan received 11,000 shares of Class B Common Stock. The transaction was classified as an “other” acquisition or disposition, rather than a standard open-market buy or sell.

How were the 11,000 MSGS Class B shares valued in this Form 4?

The 11,000 Class B shares were valued at $326.83 per share for the repayment. This value reflected the mean of the high and low trading prices of the company’s Class A Common Stock on February 20, 2026.

Why did the CFD 2021 GC Trust receive MSGS Class B shares?

The CFD 2021 GC Trust received 11,000 Class B shares as partial repayment of a promissory note. Instead of cash, Madison Square Garden Sports Corp. used its Class B equity, valued using the Class A share price on the transaction date.

Are MSGS Class B shares reported in this filing convertible?

Yes. The filing states that each share of Madison Square Garden Sports Corp. Class B Common Stock is convertible into one share of Class A Common Stock at the holder’s option. This gives the trust flexibility to switch into the more widely traded Class A shares.

How many MSGS shares does the CFD 2021 GC Trust hold after the transaction?

Following the reported transaction, the CFD 2021 GC Trust holds 11,000 shares of Madison Square Garden Sports Corp. Class B Common Stock. This reflects the shares received as partial repayment of the promissory note on February 20, 2026.