Laura Franco - 15 Sep 2025 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (MSGE)

Role: EVP & General Counsel
Signature: /s/ Mark C. Cresitello, Attorney-in-Fact for Laura Franco
Issuer symbol: MSGE
Transactions as of: 15 Sep 2025
Net transactions value: -$263,640
Form type: 4
Filing time: 17 Sep 2025, 16:15:16 UTC
Previous filing: 27 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Franco Laura	EVP & General Counsel	2 PENNSYLVANIA PLAZA, NEW YORK	/s/ Mark C. Cresitello, Attorney-in-Fact for Laura Franco	17 Sep 2025	0001769491

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGE	Class A Common Stock	Options Exercise	$0	+1,246	+24%	$0.000000	6,511	15 Sep 2025	Direct	F1, F5
transaction	MSGE	Class A Common Stock	Options Exercise	$0	+9,465	+145%	$0.000000	15,976	15 Sep 2025	Direct	F2
transaction	MSGE	Class A Common Stock	Options Exercise	$0	+3,004	+19%	$0.000000	18,980	15 Sep 2025	Direct	F3
transaction	MSGE	Class A Common Stock	Tax liability	$263,640	-6,000	-32%	$43.94	12,980	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	-1,246	-50%	$0.000000	1,246	15 Sep 2025	Class A Common Stock	1,246		Direct	F1
transaction	MSGE	Restricted Stock Units	Options Exercise	$0	-9,465	-59%	$0.000000	6,627	15 Sep 2025	Class A Common Stock	9,465		Direct	F2
transaction	MSGE	Restricted Stock Units	Options Exercise	$0	-3,004	-33%	$0.000000	6,008	15 Sep 2025	Class A Common Stock	3,004		Direct	F3

* 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 24, 2024 under the Madison Square Garden Entertainment Corp. ("MSGE") 2023 Employee Stock Plan (the "2023 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.
F2	Each RSU was granted on April 24, 2024 under the 2023 Employee Stock Plan and represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. 32% of the RSUs vested and were settled on September 13, 2024. 40% of the RSUs vested and were settled on September 15, 2025, 24% of the RSUs are scheduled to vest and settle on on September 15, 2026 and 4% on September 15, 2027.
F3	Each RSU was granted on August 27, 2024 under the 2023 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.
F4	Represents RSUs of MSGE withheld to satisfy tax withholding obligations in connection with the vesting of RSUs described in footones 1, 2 and 3 above, exempt under Rule 16b-3.
F5	On the Reporting Person's Form 4 filed September 17, 2024, the number of shares of Class A Common Stock were understated by 45 shares due to an inadvertent typographical error when reporting the vesting and settlement of certain restricted stock units on September 13, 2024. The amount reflected here corrects that misstatement, after taking account of the transaction reported in this row of this Form 4.