Ryan Dolan 1989 Trust - Apr 20, 2023 Form 4 Insider Report for Madison Square Garden Entertainment Corp. (MSGE)

Role: Member of 13(d) Group
Signature: Ryan Dolan 1989 Trust By: /s/ Brian G. Sweeney, as Attorney-in-Fact
Stock symbol: MSGE
Transactions as of: Apr 20, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/21/2023, 04:22 PM
Previous filing: Apr 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGE	Common Stock	Other		-1K	-100%		0	Apr 20, 2023	By Sphere Entertainment Co. and its subsidiaries	F1

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	Class B Common Stock	Other		+7.66K			7.66K	Apr 20, 2023	Class A Common Stock	7.66K		Direct	F2, F3, F4, F5
transaction	MSGE	Class B Common Stock	Other		+7.66K			7.66K	Apr 20, 2023	Class A Common Stock	7.66K		Direct	F2, F3, F4, F6

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

Explanation of Responses:

Id	Content
F1	Relates to the spin-off of Madison Square Garden Entertainment Corp. (formerly MSGE Spinco, Inc., and referred to herein as "MSGE") from Sphere Entertainment Co. (formerly Madison Square Garden Entertainment Corp., and referred to herein as "SPHR"), which occurred on April 20, 2023. To effect the spin-off, the issued and outstanding common stock of MSGE was recapitalized into MSGE's Class A common stock ("Class A Common Stock") and Class B common stock ("Class B Common Stock") in a transaction exempt under Rule 16b-7, and following such transaction, SPHR distributed Class A Common Stock and Class B Common Stock to its stockholders (the "Distribution") in a transaction exempt under Rule 16a-9.
F2	Class B Common Stock is convertible at the option of the holder on a share for share basis into Class A Common Stock.
F3	Represents Class B Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.
F4	Reflects a transfer of shares of Class B Common Stock previously owned directly by SPHR and its subsidiaries exempt under Rule 16a-13.
F5	These securities are owned solely by the Ryan Dolan 1989 Trust, which is a member of a "group" with the other Reporting Person for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The other Reporting Person disclaims beneficial ownership of these securities and this report shall not be deemed to be an admission that the other Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F6	These securities are owned solely by the Tara Dolan 1989 Trust, which is a member of a "group" with the other Reporting Person for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The other Reporting Person disclaims beneficial ownership of these securities and this report shall not be deemed to be an admission that the other Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.