Ryan Thomas Dolan - 15 Sep 2025 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (MSGE)

Role: Director
Signature: /s/ Mark C. Cresitello, Attorney-in-Fact for Ryan Dolan
Issuer symbol: MSGE
Transactions as of: 15 Sep 2025
Net transactions value: -$10,326
Form type: 4
Filing time: 17 Sep 2025, 16:15:12 UTC
Previous filing: 14 Mar 2025
Next filing: 21 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Dolan Ryan Thomas	Director	2 PENNSYLVANIA PLAZA, NEW YORK	/s/ Mark C. Cresitello, Attorney-in-Fact for Ryan Dolan	17 Sep 2025	0001794486

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGE	Class A Common Stock	Options Exercise	$0	+165	+7.7%	$0.000000	2,309	15 Sep 2025	Direct	F1
transaction	MSGE	Class A Common Stock	Tax liability	$2,592	-59	-2.6%	$43.94	2,250	15 Sep 2025	Direct	F3
transaction	MSGE	Class A Common Stock	Options Exercise	$0	+494	+22%	$0.000000	2,744	15 Sep 2025	Direct	F2
transaction	MSGE	Class A Common Stock	Tax liability	$7,733	-176	-6.4%	$43.94	2,568	15 Sep 2025	Direct	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MSGE	Restricted Stock Units	Options Exercise	$0	-165	-100%	$0.000000	0	15 Sep 2025	Class A Common Stock	165		Direct	F1
transaction	MSGE	Performance Restricted Stock Units	Options Exercise	$0	-494	-100%	$0.000000	0	15 Sep 2025	Class A Common Stock	494		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") was granted on April 20, 2023 under the Madison Square Garden Entertainment Corp. ("MSGE") 2023 Employee Stock Plan (the "2023 Employee Stock Plan") in respect of an RSU granted by Shere Entertainment Co. ("SPHR") on August 31, 2022, and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2023. One-third of the RSUs vested and were settled on September 13, 2024. The remaining one-third of the RSUs vested and were settled on September 15, 2025.
F2	Each performance restricted stock unit ("PSU") was granted on April 20, 2023 under the 2023 Employee Stock Plan in respect of an PSU granted by SPHR on August 31, 2022, and represents a right to receive one share of MSGE Class A Common Stock or the cash equivalent thereof. The performance conditions were satisfied on September 1, 2023 and the PSUs vested and were settled on September 15, 2025.
F3	Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnote 1 above, exempt under Rule 16b-3.
F4	Represents PSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of PSUs described in footnote 2 above, exempt under Rule 16b-3.