Form 4: James L. Dolan, Executive Chairman of Madison Square Garden Sports Corp., Sells Shares

James L. Dolan, Executive Chairman of Madison Square Garden Sports Corp., reports the sale of Class A Common Stock in multiple transactions on February 28, 2024.

Summary

• James L. Dolan, the Executive Chairman of Madison Square Garden Sports Corp. (MSGS), reported the sale of Class A Common Stock on February 28, 2024.
• The sales were executed in multiple trades at varying prices.
• A total of 4,748 shares were sold at a weighted average price of $186.9099 per share.
• Another 10,440 shares were sold at a weighted average price of $187.9399 per share.
• An additional 3,815 shares were sold at a weighted average price of $188.5719 per share.
• Following these transactions, Dolan directly owns 182,583 shares of Class A Common Stock.
• He also indirectly owns 10,821 shares through his spouse and 491 shares through his minor children, but disclaims beneficial ownership of these shares.
• The reporting person undertakes to provide full information regarding the number of shares and prices at which the transaction was effected, upon request to the SEC staff, the issuer or a security holder of the issuer.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it is a standard SEC filing reporting insider trading activity. The sales themselves could be interpreted in various ways, but the filing itself is simply a disclosure.

Industry Context

This filing is a routine disclosure of insider transactions and provides transparency to the market regarding the trading activities of company executives.

Stakeholder Impact

• The sale of shares by a high-profile executive like James Dolan could potentially influence investor sentiment, although the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding.

Key Dates