Form 4: MSGE Director Dolan Reports Stock Vesting & Tax Withholding
Insider Transaction Report
Madison Square Garden Entertainment Director Ryan Dolan reported the vesting and settlement of restricted stock units and performance restricted stock units, along with associated tax withholdings.
Summary
- Ryan Dolan, a Director at Madison Square Garden Entertainment Corp. (MSGE), reported transactions on September 15, 2025.
- 165 Class A Common Stock shares were acquired upon the vesting and settlement of Restricted Stock Units (RSUs).
- 494 Class A Common Stock shares were acquired upon the vesting and settlement of Performance Restricted Stock Units (PSUs).
- 59 Class A Common Stock shares were disposed of at $43.94 per share to cover tax withholding obligations for the RSU vesting.
- 176 Class A Common Stock shares were disposed of at $43.94 per share to cover tax withholding obligations for the PSU vesting.
- Following these transactions, Dolan beneficially owns 2,568 Class A Common Stock shares directly.
Sentiment
Score: 6
Explanation: The filing reports routine insider transactions related to the vesting of equity awards and subsequent share dispositions for tax purposes, which is a standard practice and does not indicate any significant positive or negative operational or financial news.
Positives
- Director Ryan Dolan received 659 shares (165 RSUs + 494 PSUs) of Class A Common Stock through the scheduled vesting of equity awards, representing a component of his compensation.
Negatives
- 235 shares (59 RSUs + 176 PSUs) of Class A Common Stock were disposed of at $43.94 per share to satisfy tax withholding obligations, which is a routine event associated with equity award vesting.
Stakeholder Impact
- Shareholders: Minor dilution from RSU/PSU vesting, but this is a standard part of executive compensation and not a significant event.
- Director Ryan Dolan: Increased direct ownership of Class A Common Stock, reflecting compensation for services.
Key Dates
| Date | Description |
|---|---|
| 08/31/2022 | Original Restricted Stock Unit (RSU) and Performance Restricted Stock Unit (PSU) grants by Shere Entertainment Co. (SPHR). |
| 04/20/2023 | RSUs and PSUs granted under the MSGE 2023 Employee Stock Plan, in respect of the SPHR grants. |
| 09/01/2023 | Performance conditions for the PSUs were satisfied. |
| 09/15/2023 | One-third of the RSUs vested and were settled. |
| 09/13/2024 | One-third of the RSUs vested and were settled. |
| 09/15/2025 | Remaining one-third of the RSUs vested and settled; PSUs vested and settled. This is the earliest transaction date reported in this filing. |
| 09/17/2025 | Date the Form 4 was signed by the Attorney-in-Fact for Ryan Dolan. |
Recommendation
holdThis Form 4 filing details routine insider transactions involving the vesting of equity awards and subsequent share dispositions for tax obligations. Such events are standard compensation practices and typically do not provide new material information to warrant a change in investment recommendation. The transactions reflect a scheduled compensation event rather than a discretionary buy or sell decision based on new company performance insights.
Keywords
Madison Square Garden Entertainment, MSGE, Ryan Dolan, Form 4, insider transaction, stock vesting, RSU, PSU, equity compensation
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