MSGE CEO James L. Dolan Exercises Awards and Sells Shares

What Happened
James L. Dolan (Executive Chairman & CEO) reported that multiple restricted stock units (RSUs) and performance stock units (PSUs) vested and were converted into 205,342 shares of Madison Square Garden Entertainment Corp. (MSGE) on September 15, 2026. To satisfy tax withholding, 58,493 shares and 55,059 shares were disposed at $80.89 per share (total proceeds reported of $4,731,499 and $4,453,723, respectively), totaling $9,185,222. After withholding, Dolan’s net increase in shares was approximately 91,790 shares (205,342 vested minus 113,552 withheld/sold).

Key Details

• Transaction date: September 15, 2026; Form 4 filed September 17, 2026.
• Conversion/Exercise entries reported under Code M (exercise or conversion of derivative instruments — here, RSUs/PSUs).
• Tax withholding/share disposal reported under Code F: 58,493 shares and 55,059 shares sold at $80.89 each; total proceeds ~$9.19M.
• Shares acquired via conversion: 205,342; shares withheld/sold for taxes: 113,552; net new shares to Dolan ≈ 91,790.
• Footnotes: RSUs and PSUs were granted in 2023–2025 and vested/settled September 15, 2026 (see F1, F3–F4, F6). Withheld shares to satisfy taxes are exempt under Rule 16b-3 (F5, F7). Spousal/minor-child holdings are noted and disclaimed (F2, F8, F9).
• Filing timeliness: Form filed two days after the transaction date (no late filing flag reported).

Context

• These transactions reflect routine vesting and settlement of equity awards (RSUs/PSUs) and share withholding to cover tax obligations — not an open-market discretionary sale. In practice, withheld/sold shares to satisfy taxes are common and generally viewed as administrative rather than a market sentiment signal.
• Transaction codes: M = exercise/conversion of derivative (vested awards converted to shares); F = payment of exercise price or tax liability (shares withheld/sold).