Trust repaid in stock at Madison Square Garden Sports (NYSE: MSGS)

Rhea-AI Filing Summary

Kathleen M. Dolan 2012 Descendants Trust reported an insider transaction involving Madison Square Garden Sports Corp. Class B Common Stock. On February 20, 2026, the trust received 1,000 shares of Class B Common Stock as partial repayment of a promissory note.

For this repayment, the shares 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 Common Stock is convertible at the holder’s option into Class A Common Stock on a one-for-one basis.

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
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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^*

Kathleen M. Dolan 2012 Descendants Trust

(Last) (First) (Middle)

C/O RICHARD BACCARI

MLC VENTURES LLC, PO BOX 1014

(Street)

YORKTOWN HEIGHTS NY 10598

(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)		1,000		(1)	(1)	Class A Common Stock	1,000	(2)	1,000	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 Garden 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.

	KATHLEEN M. DOLAN 2012 DESCENDANTS TRUST 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.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did the Kathleen M. Dolan 2012 Descendants Trust report for MSGS?

The trust reported receiving 1,000 shares of Madison Square Garden Sports Corp. Class B Common Stock on February 20, 2026. These shares were received as partial repayment of a promissory note, rather than through an open-market purchase or sale.

How were the MSGS shares valued in the reported insider transaction?

The 1,000 Class B shares were valued at $326.83 per share. This value was based on the mean of the high and low trading prices of Madison Square Garden Sports Corp. Class A Common Stock on February 20, 2026.

What type of MSGS stock was involved in the trust’s Form 4 filing?

The transaction involved Class B Common Stock of Madison Square Garden Sports Corp. According to the disclosure, each share of Class B Common Stock is convertible one-for-one into Class A Common Stock at the option of the holder.

Is the MSGS Class B stock received by the trust convertible into Class A shares?

Yes, the Class B Common Stock received by the trust is convertible into Class A Common Stock. The conversion is at the option of the holder on a share-for-share basis, meaning one Class B share can become one Class A share.

Did the Kathleen M. Dolan 2012 Descendants Trust buy or sell MSGS shares on the market?

No, the trust did not report an open-market buy or sell. Instead, it received 1,000 Class B shares of Madison Square Garden Sports Corp. as partial repayment of a promissory note on February 20, 2026.