[Form 4] Madison Square Garden Sports Corp. Insider Trading Activity

Rhea-AI Filing Summary

David Granville-Smith, Executive Vice President and reporting person for Madison Square Garden Sports Corp. (MSGS), reported transactions dated 09/15/2025 involving restricted stock units (RSUs) and Class A common stock. Multiple RSU grants vested or were settled: 6,503 RSUs (granted 6/15/2023) vesting into 6,503 shares, 1,684 RSUs (granted 8/28/2023) vesting into 1,684 shares, and 1,414 RSUs (granted 8/29/2024) vesting into 1,414 shares. A separate transaction shows 5,137 shares disposed at a price of $210.95, noted as shares withheld to satisfy tax withholding. Following the reported transactions the filing lists beneficial ownership totals of 13,300 shares before withholding and 8,163 shares after the withholding event.

Positive

• RSUs vested and settled as scheduled, demonstrating compensation plan execution
• Tax withholding was handled via share withholding, complying with tax obligations and Rule 16b-3 exemption

Negative

• Beneficial ownership declined from reported pre-withholding totals of 13,300 shares to a post-withholding position of 8,163 shares
• Share disposition at $210.95 reduced the reporting person's direct share count

Insights

Financial Analyst

TL;DR: Routine insider vesting and tax-withholding sales; no new purchases or company-level transactions reported.

The Form 4 documents settlement of multiple executive RSU grants with vesting dates producing 6,503, 1,684 and 1,414 Class A shares respectively, and a related withholding of 5,137 shares at $210.95 per share to cover taxes. These entries reflect compensation vesting and tax compliance rather than open-market trading or secondary transactions intended to change control. The filing shows beneficial ownership decreasing from totals that sum to 13,300 shares to an indicated post-withholding position of 8,163 shares.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 16 reporting for officer RSU vesting and tax withholding; appears procedural.

The report discloses RSU settlements granted under the 2015 Employee Stock Plan with staggered vesting schedules and indicates shares were withheld pursuant to tax obligations, exempt under Rule 16b-3 as noted. There is a signed attorney-in-fact signature dated 09/17/2025. No indications of extraordinary compensation changes, accelerations, or related-party transactions are present in this filing.

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
Estimated average burden
hours per response:			0.5

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^*

Granville-Smith David

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Class A Common Stock	09/15/2025		M		6,503	A	$0(1)	10,202	D
Class A Common Stock	09/15/2025		M		1,684	A	$0(2)	11,886	D
Class A Common Stock	09/15/2025		M		1,414	A	$0(3)	13,300	D
Class A Common Stock	09/15/2025		F(4)		5,137	D	$210.95	8,163	D

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)	09/15/2025		M			6,503	(1)	09/15/2026	Class A Common Stock	6,503	$0	6,503	D
Restricted Stock Units	(2)	09/15/2025		M			1,684	(2)	09/15/2026	Class A Common Stock	1,684	$0	1,685	D
Restricted Stock Units	(3)	09/15/2025		M			1,414	(3)	09/15/2027	Class A Common Stock	1,414	$0	2,829	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") was granted on June 15, 2023 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 Employee Stock Plan") and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 13, 2024. One-third of the RSUs are scheduled to vest and settle on September 15, 2025. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2026.

2. Each RSU was granted on August 28, 2023 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 13, 2024. One-third of the RSUs vested and were settled on September 15, 2025. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2026.

3. Each RSU was granted on August 29, 2024 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2025. One-third of the RSUs are scheduled to vest and settle on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.

4. Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vestings of RSUs described in footnotes 1, 2 and 3 above, exempt under Rule 16b-3.

	/s/ Mark C. Cresitello, Attorney-in-Fact for David Granville-Smith	09/17/2025
	** 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 transactions did David Granville-Smith report on Form 4 for MSGS?

He reported RSU settlements and share dispositions dated 09/15/2025, including vesting of 6,503, 1,684, and 1,414 RSUs and a withholding of 5,137 shares at $210.95.

How many MSGS shares did the reporting person beneficially own after the transactions?

The filing lists a post-transaction beneficial ownership total of 8,163 Class A shares.

Were the RSUs part of an employee stock plan?

Yes. The RSUs were granted under the Madison Square Garden Sports Corp. 2015 Employee Stock Plan as described in the filing.

Why were shares disposed in the filing?

The filing explains 5,137 RSUs were withheld to satisfy tax withholding obligations in connection with the RSU vestings.

Who signed the Form 4 filing?

The Form 4 was signed by Mark C. Cresitello, Attorney-in-Fact for David Granville-Smith with signature date 09/17/2025.