Form 4: Dolan Family Trust Acquires MSGS Class B Shares

The Charles F. Dolan 2009 Family Trust acquired 37,405 shares of Madison Square Garden Sports Corp. Class B Common Stock.

Summary

• The CHARLES F. DOLAN 2009 FAMILY TRUST FBO THOMAS C. DOLAN, a member of the 13(d) Group, reported a transaction involving Madison Square Garden Sports Corp. (MSGS).
• On February 20, 2026, the Reporting Person received 37,405 shares of Class B Common Stock.
• These shares were received as partial repayment of a promissory note.
• For the purpose of repayment, the shares were valued at $326.83 per share, based on the mean of the high and low trading price for Class A Common Stock on February 20, 2026.
• Following this transaction, the Reporting Person beneficially owns 467,965 shares of Class B Common Stock directly.
• Class B Common Stock is convertible at the option of the holder on a share-for-share basis into Class A Common Stock.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive development for the reporting person, as it signifies the repayment of a debt with company equity. For the company, it's a neutral event, representing a non-cash settlement of a liability.

Positives

• The trust received a significant number of shares (37,405) in repayment of a promissory note, indicating a resolution of debt owed to the trust.
• The valuation of $326.83 per share for the Class B stock reflects a specific market price for the Class A stock on the transaction date, providing clarity on the value received.

Negatives

• No direct negatives are apparent from this factual reporting of a share acquisition in repayment of a note.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that this transaction represents an insider acquisition by a significant shareholder group, the Dolan Family Trust, in Madison Square Garden Sports Corp. While a Form 4 primarily reports a change in beneficial ownership, the acquisition of shares in repayment of a promissory note suggests a specific financial arrangement between the company and a related party, which is common in companies with concentrated ownership structures.

Comparison to Industry Standards

• This transaction is a standard Form 4 filing for an insider acquisition, which is a common occurrence across publicly traded companies when executives or significant shareholders engage in transactions involving company stock.
• The valuation method, using the mean of high and low trading prices for Class A stock to value Class B stock, is a typical approach for determining fair value in such non-market transactions, aligning with common financial practices.

Related Party Transactions

• The transaction involves the CHARLES F. DOLAN 2009 FAMILY TRUST FBO THOMAS C. DOLAN, a member of the 13(d) Group, receiving shares from Madison Square Garden Sports Corp. in partial repayment of a promissory note. This constitutes a related party transaction due to the trust's significant ownership and relationship with the company's founding family.

Stakeholder Impact

• Shareholders: The transaction increases the beneficial ownership of a significant insider group, potentially signaling confidence from a key stakeholder. It also represents a non-cash settlement of a company liability.
• Creditors: The partial repayment of a promissory note reduces the company's outstanding debt to the reporting person.

Key Dates

Recommendation

This Form 4 filing reports a factual insider transaction where a significant trust received shares in repayment of a note. While it indicates a resolution of a financial obligation and an increase in insider ownership, it does not provide new operational or financial performance data to warrant a change in investment recommendation. The transaction is largely neutral for the company's immediate operational outlook, thus a 'hold' recommendation is appropriate for seasoned investors awaiting broader financial or strategic updates.

Keywords

Madison Square Garden Sports Corp, MSGS, SEC Form 4, Insider Transaction, Class B Common Stock, Dolan Family Trust, Promissory Note Repayment, Beneficial Ownership