Promissory note repaid in MSGS stock to CFD 2021 GC Trust (MSGS)

Rhea-AI Filing Summary

CFD 2021 GC Trust FBO Tara E. Dolan reported an “other transaction” involving 11,000 shares of Madison Square Garden Sports Corp. Class B Common Stock. The trust received these shares on February 20, 2026 as partial repayment of a promissory note.

The Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis at the holder’s option. For the repayment, the Class B shares were valued at $326.83 per share, based on the mean of the high and low trading price of the Class A Common Stock on that date.

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 Tara E. 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 TARA E. 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).
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FAQ

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

CFD 2021 GC Trust reported receiving 11,000 shares of Madison Square Garden Sports Corp. Class B Common Stock. The shares were delivered as partial repayment of a promissory note, rather than through an open-market purchase or sale transaction.

At what value were the 11,000 MSGS Class B shares measured?

The 11,000 Class B shares were valued at $326.83 per share for the repayment. This value was based on the mean of the high and low trading price of Madison Square Garden Sports Corp. Class A Common Stock on February 20, 2026.

How are MSGS Class B shares related to Class A shares in this filing?

The filing notes that Madison Square Garden Sports Corp. Class B Common Stock is convertible into Class A Common Stock. The conversion is on a share-for-share basis, at the option of the holder of the Class B shares, providing direct equivalence between the classes.

Was the MSGS insider transaction a buy or sell of shares?

The transaction was classified as an “other acquisition or disposition,” not a standard buy or sell. The trust received 11,000 Class B shares as partial repayment of a promissory note, reflecting a non-cash settlement of that financial obligation.

How many MSGS shares did the reporting trust hold after the transaction?

After the transaction, the reporting trust held 11,000 shares of Madison Square Garden Sports Corp. Class B Common Stock. This figure reflects the total ownership of that security reported following receipt of the shares in repayment of the promissory note.