Director Alan D. Schwartz granted 265 MSGS RSUs as board compensation

Rhea-AI Filing Summary

SCHWARTZ ALAN D reported acquisition or exercise transactions in this Form 4 filing.

Madison Square Garden Sports Corp. director Alan D. Schwartz received a grant of 265 restricted stock units as part of his board compensation. Each unit represents the right to receive one share of Class A common stock or the cash equivalent, instead of cash director fees.

The restricted stock units are fully vested on the grant date and will be settled in stock or cash on the first business day 90 days after a separation from service. Following this grant, Schwartz holds a total of 8,925 restricted stock units directly.

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^*

SCHWARTZ ALAN D

(Last) (First) (Middle)

TWO PENN 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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
Restricted Stock Units	(1)	02/17/2026		A		265		(2)	(2)	Class A Common Stock	265	$0.0	8,925	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") is granted in lieu of cash compensation otherwise payable as director fees under the Madison Square Garden Sports Corp. 2015 Stock Plan for Non-Employee Directors, as amended, and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.

2. The RSUs are fully vested on the date of the grant and will be settled in stock or in cash on the first business day 90 days after a separation from service.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Alan D. Schwartz	02/19/2026
	** 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 director Alan D. Schwartz report?

Alan D. Schwartz reported receiving 265 restricted stock units as director compensation. These units are granted instead of cash fees and each represents one share of Class A common stock or its cash equivalent under the company’s non-employee director stock plan.

How many Madison Square Garden Sports (MSGS) RSUs does Alan D. Schwartz hold after this grant?

After this grant, Alan D. Schwartz holds 8,925 restricted stock units. The new 265-unit award is added to his prior holdings and reflects his accumulated equity-based compensation for service on the Madison Square Garden Sports Corp. board of directors.

Are the MSGS restricted stock units granted to Alan D. Schwartz vested immediately?

Yes, the restricted stock units granted to Alan D. Schwartz are fully vested on the grant date. Although vested, they are not settled immediately and will convert into stock or cash only after a qualifying separation from service under the plan terms.

When will Alan D. Schwartz’s MSGS restricted stock units be settled?

The restricted stock units will be settled in Madison Square Garden Sports Class A stock or cash on the first business day 90 days after a separation from service. This deferred settlement structure aligns director compensation with longer-term board service.

Why did MSGS grant restricted stock units instead of cash director fees?

The restricted stock units are granted in lieu of cash compensation otherwise payable as director fees. Under the 2015 Stock Plan for Non-Employee Directors, Madison Square Garden Sports Corp. uses equity-based awards to compensate directors and align their interests with shareholders.