Form 4: Director Donna Coleman Granted MSGE Restricted Stock Units

Madison Square Garden Entertainment Corp. Director Donna Coleman received a grant of 3,266 Restricted Stock Units, fully vested upon grant.

Summary

• Donna Coleman, a Director of Madison Square Garden Entertainment Corp. (MSGE), was granted 3,266 Restricted Stock Units (RSUs) on December 10, 2025.
• The RSUs were issued under the Madison Square Garden Entertainment Corp. 2023 Stock Plan for Non-Employee Directors.
• Each RSU represents a right to receive one share of Class A Common Stock or the cash equivalent thereof.
• The granted RSUs were fully vested on the date of the grant, December 10, 2025.
• Settlement of these RSUs will occur in stock or cash on the first business day 90 days after Donna Coleman's separation from service.
• Following this transaction, Donna Coleman beneficially owns a total of 16,255 derivative securities (Restricted Stock Units).

Sentiment

Score: 7

Explanation: A director receiving an equity grant is generally a positive sign of alignment with shareholder interests, though it's a routine compensation event rather than a major strategic announcement.

Positives

• The grant of 3,266 Restricted Stock Units to a director aligns her interests with the long-term performance and shareholder value of Madison Square Garden Entertainment Corp.
• The RSUs are fully vested on the grant date, providing immediate ownership rights and certainty for the director.

Future Outlook

The settlement of the granted Restricted Stock Units (RSUs) is scheduled for the first business day 90 days after Donna Coleman's separation from service, providing a future equity payout.

Management Comments

• No direct management comments or quotes are typically included in a Form 4 filing, which is a factual report of a transaction.

Industry Context

This transaction reflects standard practice for compensating non-employee directors in the entertainment and media industry, often involving equity grants to align director interests with long-term company performance and shareholder value.

Comparison to Industry Standards

• Equity compensation for non-employee directors, such as Restricted Stock Units (RSUs), is a common practice across publicly traded companies, including those in the entertainment sector like Live Nation Entertainment (LYV) or Endeavor Group Holdings (EDR), to incentivize long-term commitment and align interests with shareholders.
• The grant of fully vested RSUs upon the grant date is a typical structure for director compensation, ensuring immediate ownership and reducing short-term performance conditions often seen with employee equity grants.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of equity to a director aligns their interests with shareholder value creation.

Next Steps

• Donna Coleman will continue to hold the 16,255 Restricted Stock Units.
• The RSUs will be settled in stock or cash on the first business day 90 days after her separation from service.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to a non-employee director as part of their compensation. While it signifies alignment of interests, it does not provide new fundamental information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals.

Keywords

Madison Square Garden Entertainment Corp., MSGE, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Grant, Stock Plan