MSGS SVP Bryan Warner Sells Shares After RSU Vesting

What Happened

• Bryan Warner, SVP & Head of Legal at Madison Square Garden Sports Corp. (MSGS), had RSUs vest on Sept. 15, 2026 and received shares. The Form 4 reports the settlement of RSUs (291 and 417 shares) and subsequent dispositions: 254 shares were withheld to cover taxes (valued at $99,891) and 628 shares were sold in the open market on Sept. 16, 2026 for $393.77 per share (proceeds $247,288). The RSU settlements are shown as derivative exercises/settlements.

Key Details

• Transaction dates and prices:
  • 9/15/2026: RSU settlement (acquired) — 291 shares and 417 shares (two grants) at $0 (footnotes describe these as RSU vesting/settlement).
  • 9/15/2026: 254 shares withheld for tax withholding at $393.27 — $99,891 (reported as "F" tax withholding).
  • 9/16/2026: Open-market sale of 628 shares at $393.77 — $247,288 (reported as "S").
• Footnotes: RSUs were granted under the MSGS 2015 Employee Stock Plan (grants dated Apr 23, 2025 and Aug 21, 2025). Footnote F3 confirms shares were withheld to satisfy tax withholding obligations and are exempt under Rule 16b-3.
• Shares owned after transaction: Not specified in the information provided in this summary.
• Filing timeliness: Form 4 filed 2026-09-17 for transactions on 2026-09-15–09-16; filing appears timely (no late flag reported).

Context

• These entries reflect vested RSUs settling into shares, with some shares withheld for taxes and a subsequent open-market sale — effectively a vest-and-sell event rather than a purchase. For retail investors, such sales are often routine following vesting and tax withholding; they do not by themselves indicate the insider’s broader view of the company.