James L. Dolan - Sep 15, 2025 Form 4 Insider Report for Madison Square Garden Sports Corp. (MSGS)

Role: Executive Chairman / CEO, Director, Member of 13(d) Group
Signature: /s/ James L. Dolan
Stock symbol: MSGS
Transactions as of: Sep 15, 2025
Transactions value $: -$4,484,797
Form type: 4
Date filed: 9/17/2025, 04:15 PM
Previous filing: Sep 10, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
DOLAN JAMES LAWRENCE	Executive Chairman / CEO, Director, Member of 13(d) Group	TWO PENN PLAZA, NEW YORK	/s/ James L. Dolan	2025-09-17	0000933028

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+6.38K	+3.69%	$0.00	179K	Sep 15, 2025	Direct	F1, F2
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+5.18K	+2.89%	$0.00	184K	Sep 15, 2025	Direct	F2, F3
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+6.49K	+3.52%	$0.00	191K	Sep 15, 2025	Direct	F2, F4
transaction	MSGS	Class A Common Stock	Tax liability	-$2.1M	-9.98K	-5.23%	$210.95	181K	Sep 15, 2025	Direct	F2, F5
transaction	MSGS	Class A Common Stock	Options Exercise	$0	+20.4K	+11.28%	$0.00	201K	Sep 15, 2025	Direct	F2, F6
transaction	MSGS	Class A Common Stock	Tax liability	-$2.38M	-11.3K	-5.61%	$210.95	190K	Sep 15, 2025	Direct	F2, F7
holding	MSGS	Class A Common Stock						5.01K	Sep 15, 2025	By Spouse	F8
holding	MSGS	Class A Common Stock						491	Sep 15, 2025	By Minor Children and Household Members	F9

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	MSGS	Restricted Stock Units	Options Exercise	$0	-6.38K	-100%	$0.00	0	Sep 15, 2025	Class A Common Stock	6.38K		Direct	F1
transaction	MSGS	Restricted Stock Units	Options Exercise	$0	-5.18K	-50%	$0.00	5.18K	Sep 15, 2025	Class A Common Stock	5.18K		Direct	F3
transaction	MSGS	Restricted Stock Units	Options Exercise	$0	-6.49K	-33.33%	$0.00	13K	Sep 15, 2025	Class A Common Stock	6.49K		Direct	F4
transaction	MSGS	Performance Restricted Stock Units	Options Exercise	$0	-20.4K	-100%	$0.00	0	Sep 15, 2025	Class A Common Stock	20.4K		Direct	F6

* 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 August 29, 2022 under the Madison Square Garden Sports Corp. ("MSGS") 2015 Employee Stock Plan (the "2015 Employee Stock Plan") and represents a right to receive one share of 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	Includes shares held jointly with spouse.
F3	Each RSU was granted on August 28, 2023 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 13, 2024. One-third of the RSUs vested and were settled on September 15, 2025. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2026.
F4	Each RSU was granted on August 29, 2024 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. One-third of the RSUs vested and were settled on September 15, 2025. One-third of the RSUs are scheduled to vest and settle on September 15, 2026. The remaining one-third of the RSUs are scheduled to vest and settle on September 15, 2027.
F5	Represents RSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footnotes 1, 3 and 4, exempt under Rule 16b-3.
F6	Each performance restriced stock unit ("PSU") was granted on August 29, 2022 under the 2015 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The performance conditions were satisfied on August 21, 2025 and the PSUs vested and were settled on September 15, 2025.
F7	Represents PSUs of MSGS withheld to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs described in footnote 6, exempt under Rule 16b-3.
F8	Securities held directly by Kristin A. Dolan, James L. Dolan's spouse. Mr. Dolan disclaims beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Ms. Dolan (other than securities in which he has a direct pecuniary interest) and this report shall not be deemed to be an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.
F9	Mr. Dolan disclaims beneficial ownership of all securities of MSGS beneficially owned and deemed to be beneficially owned by his minor children and household members and this filing shall not be deemed an admission that Mr. Dolan is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities.