Sec Form 13D Filing - DOLAN CHARLES F filing for Madison Square Garden Entertainment Corp. (MSGE) - 2023-09-25

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

 

Madison Square Garden Entertainment Corp.

(Name of Issuer)

 

Class A Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

558256 103

(CUSIP Number)

 

Samantha H. Crispin

Quentin W. Wiest

Baker Botts L.L.P.

30 Rockefeller Plaza

New York, New York 10112

(212) 408-2500

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

September 22, 2023

(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨

 

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan, individually and as a Trustee of the Charles F. Dolan 2009 Revocable Trust and the Helen A. Dolan 2009 Revocable Trust

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4.

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

17,773

8.

Shared Voting Power

4,144,470

9.

Sole Dispositive Power

17,773

10.

Shared Dispositive Power

4,144,470

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

4,162,243

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

9.3%

  14.

Type of Reporting Person (See I nstructions)
IN

  

(*)Excludes 3,003,469 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

2

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

James L. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

1,239,516

8.

Shared Voting Power

987,449

9.

Sole Dispositive Power

1,239,516

10.

Shared Dispositive Power

987,449

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

2,226,965

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

5.2%

  14.

Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 5,725,962 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

3

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Thomas C. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

369,708

8.

Shared Voting Power

488,579

9.

Sole Dispositive Power

369,708

10.

Shared Dispositive Power

488,579

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

858,287

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

2.1%

  14.

Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 6,398,331 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

4

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Kathleen M. Dolan, individually and as Trustee of the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust and as a Trustee of each of the Charles F. Dolan Children Trusts

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

18,632

8.

Shared Voting Power

2,949,895

9.

Sole Dispositive Power

18,632

10.

Shared Dispositive Power

2,949,895

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

2,968,527

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

6.8%

  14.

Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 4,087,921 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

5

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Marianne Dolan Weber

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

19,747

8.

Shared Voting Power

523,660

9.

Sole Dispositive Power

19,747

10.

Shared Dispositive Power

523,660

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

543,407

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.3%

  14.

Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 6,416,602 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

6

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Deborah A. Dolan-Sweeney

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

10,419

8.

Shared Voting Power

924,184

9.

Sole Dispositive Power

10,419

10.

Shared Dispositive Power

924,184

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

934,603

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

2.2%

  14. Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 6,060,678 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

7

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Corby Dolan Leinauer, as a Trustee of each of the 2009 Family Trusts

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

¨

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

192

8.

Shared Voting Power

3,562,801

9.

Sole Dispositive Power

192

10.

Shared Dispositive Power

3,562,801

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,562,993

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

8.0%

  14.

Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 3,345,153 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Corby Dolan Leinauer disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

8

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Mary S. Dolan, as a Trustee of the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney and each of the 2009 Family Trusts

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) ¨
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

3,453

8.

Shared Voting Power

4,054,488

9.

Sole Dispositive Power

3,453

10.

Shared Dispositive Power

4,054,488

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

4,057,941

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

9.0%

  14. Type of Reporting Person (See Instructions)
IN

 

(*)Excludes 2,880,761 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Mary S. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

9

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Revocable Trust

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)

x

    (b)

¨

  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

279,299

8.

Shared Voting Power

0

9.

Sole Dispositive Power

279,299

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

279,299

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

0.7%

  14.

Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,637,762 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Revocable Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

10

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Helen A. Dolan 2009 Revocable Trust

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

112,692

8.

Shared Voting Power

0

9.

Sole Dispositive Power

112,692

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

112,692

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

0.3%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,754,062 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Helen A. Dolan 2009 Revocable Trust disclaims beneficial ownership. This report shall not be construed as an admis sion that such person is the beneficial owner of such securities.

 

11

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan Children Trust FBO Kathleen M. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

488,579

8.

Shared Voting Power

0

9.

Sole Dispositive Power

488,579

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

488,579

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.2%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,402,362 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

12

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

488,579

8.

Shared Voting Power

0

9.

Sole Dispositive Power

488,579

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

488,579

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.2%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,402,362 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

13

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan Children Trust FBO Marianne Dolan Weber

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

474,339

8.

Shared Voting Power

0

9.

Sole Dispositive Power

474,339

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

474,339

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.1%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,416,602 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

14

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan Children Trust FBO Thomas C. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

488,579

8.

Shared Voting Power

0

9.

Sole Dispositive Power

488,579

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

488,579

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.2%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,398,331 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan Children Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

15

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan Children Trust FBO James L. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

960,498

8.

Shared Voting Power

0

9.

Sole Dispositive Power

960,498

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

960,498

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

2.3%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 5,950,598 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan Children Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

16

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Family Trust FBO James L. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

1,053,283

8.

Shared Voting Power

0

9.

Sole Dispositive Power

1,053,283

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

1,053,283

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

2.5%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 5,820,189 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan 2009 Family Trust FBO James L. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

17

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

659,208

8.

Shared Voting Power

0

9.

Sole Dispositive Power

659,208

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

659,208

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.6%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,214,264 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

18

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

621,308

8.

Shared Voting Power

0

9.

Sole Dispositive Power

621,308

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

621,308

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.5%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,252,164 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

19

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

653,144

8.

Shared Voting Power

0

9.

Sole Dispositive Power

653,144

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

653,144

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.6%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,220,328 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan 2009 Family Trust FBO Marianne Dolan Weber disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

20

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

568,248

8.

Shared Voting Power

0

9.

Sole Dispositive Power

568,248

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

1.4%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,305,224 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Charles F. Dolan 2009 Family Trust FBO Deborah Dolan-Sweeney disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

21

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Ryan Dolan 1989 Trust

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

7,659

8.

Shared Voting Power

0

9.

Sole Dispositive Power

7,659

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

7,659

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

0.1%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Ryan Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

22

 

    CUSIP No. 558256 103
  1.

Names of Reporting Persons

Tara Dolan 1989 Trust

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) ¨
  3. SEC Use Only
  4

Source of Funds (See Instructions)

00 – See Item 3 of Statement

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)  ¨
  6. Citizenship or Place of Organization
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With:
7.

Sole Voting Power

7,659

8.

Shared Voting Power

0

9.

Sole Dispositive Power

7,659

10.

Shared Dispositive Power

0

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

7,659

  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) x*
  13.

Percent of Class Represented by Amount in Row (11)

0.1%

  14. Type of Reporting Person (See Instructions)
OO

 

(*)Excludes 6,859,095 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock held by other Reporting Persons hereto as to which Tara Dolan 1989 Trust disclaims beneficial ownership. This report shall not be construed as an admission that such person is the beneficial owner of such securities.

 

23

 

AMENDMENT NO. 1 TO SCHEDULE 13D

 

This Amendment No. 1 to Schedule 13D (“Amendment No. 1”) is being filed jointly by (i) the individuals (in their individual capacity and/or as trustee or co-trustee of specified trusts) and trusts listed in Item 2(a) below (the “Group Members”) who may be deemed to beneficially own all of the shares of Class B Common Stock of Madison Square Garden Entertainment Corp. (the “Issuer”), par value $0.01 per share (the “Class B Common Stock”), which are convertible share for share at the option of the holder into Class A Common Stock of the Issuer, par value $0.01 per share (the “Class A Common Stock,” and together with the Class B Common Stock, the “Common Stock”), and a certain number of shares of Class A Common Stock, in each case as described herein and (ii) certain trustees of such Group Members (the persons referred to in clauses (i) and (ii) collectively, the “Reporting Persons”) to, among other things, report changes to the Reporting Persons’ beneficial ownership of Class A Common Stock as a result of the Issuer’s repurchase of Class A Common Stock as described in Item 4.

 

The Schedule 13D (the “Schedule”) filed by the original Group Members on April 28, 2023 is hereby amended and supplemented by the Reporting Persons as set forth below in this Amendment No. 1.

 

Item 2. Identity and Background.

 

The disclosure in Item 2(a) is hereby amended to read in its entirety as follows:

 

(a)            The names of the Reporting Persons who are Group Members are:  Charles F. Dolan, individually and as a Trustee of the Charles F. Dolan 2009 Revocable Trust (the “CFD 2009 Trust”) and the Helen A. Dolan 2009 Revocable Trust (the “HAD 2009 Trust”); James L. Dolan; Thomas C. Dolan; Kathleen M. Dolan, individually and as a Trustee of the Charles F. Dolan Children Trust FBO Kathleen M. Dolan, the Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney, the Charles F. Dolan Children Trust FBO Marianne Dolan Weber, the Charles F. Dolan Children Trust FBO Thomas C. Dolan and the Charles F. Dolan Children Trust FBO James L. Dolan (hereinafter collectively referred to as the “Dolan Children Trusts” and individually, as a “Dolan Children Trust”), and as sole Trustee of the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust; Marianne Dolan Weber; Deborah A. Dolan-Sweeney; the CFD 2009 Trust; the HAD 2009 Trust; the Dolan Children Trust FBO Kathleen M. Dolan; the Dolan Children Trust FBO Marianne Dolan Weber; the Dolan Children Trust FBO Deborah Dolan-Sweeney; the Dolan Children Trust FBO James L. Dolan; the Dolan Children Trust FBO Thomas C. Dolan; the Charles F. Dolan 2009 Family Trust FBO James L. Dolan; the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan; the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan; the Charles F. Dolan 2009 Family Trust FBO Marianne E. Dolan Weber; the Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney; the Ryan Dolan 1989 Trust; and the Tara Dolan 1989 Trust. The Reporting Persons also include Corby Dolan Leinauer, as a Trustee of the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan, the Charles F. Dolan 2009 Family Trust FBO James L. Dolan, the Charles F. Dolan 2009 Family Trust FBO Marianne E. Dolan Weber, the Charles F. Dolan 2009 Family Trust FBO Kathleen M. Dolan and the Charles F. Dolan 2009 Family Trust FBO Deborah A. Dolan-Sweeney (collectively, the “2009 Family Trusts” and individually, a “2009 Family Trust”) and Mary S. Dolan, as a Trustee of the Dolan Children Trust FBO Deborah Dolan-Sweeney and each of the 2009 Family Trusts. Helen A. Dolan passed away on August 19, 2023 and is no longer a Group Member.

 

The disclosure in Item 2(b) and 2(c) is hereby amended to remove information related to Helen A. Dolan.

 

Item 3.  Source and Amount of Funds or Other Consideration.

 

The information contained in Item 4 of this Amendment No. 1 is incorporated by reference.

 

Item 4.  Purpose of Transaction.

 

The disclosure in Item 4 is hereby amended by adding the following to the end thereof:

 

As reported by the Issuer in its Current Report on Form 8-K filed on September 22, 2023 with the Securities and Exchange Commission (the “SEC”), on September 22, 2023 the Issuer purchased 1,602,564 shares of its Class A Common Stock in an underwritten offering (the “Offering”) of shares of its Class A Common Stock by Sphere Entertainment Group, LLC (the “Stock Repurchase”). As a result of the Stock Repurchase, the Reporting Persons’ percentage beneficial ownership has changed as reported in Item 5 below.

 

24

 

Item 5. Interest in Securities of the Issuer.

 

The information in Item 5 is hereby amended and restated to read in its entirety as follows:

 

(a) and (b) The Group Members may be deemed to beneficially own an aggregate of 8,890,046 shares of Class A Common Stock as a result of their beneficial ownership of (i) 2,023,292 shares of Class A Common Stock (inclusive of exercisable options), and (ii) 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 18.3% of the total shares of the Issuer’s common stock currently outstanding. Group Members in the aggregate may be deemed to have the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 6,866,754 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock (representing all outstanding Class B Common Stock) because of the terms of the Class B Stockholders’ Agreement (as previously defined in the Schedule 13D). Reporting Persons and individuals who are not Group Members but are trustees of trusts that are Group Members may be deemed to beneficially own an additional 78,572 shares of Class A Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities held by the other Reporting Persons, and this report shall not be deemed to be an admission that any such person is the beneficial owner of such securities.

 

The percentages used herein with respect to the ownership of Class A Common Stock are calculated based on 41,102,858 outstanding shares of Class A Common Stock, which reflects 42,705,422 shares of Class A common stock outstanding as of September 15, 2023, as reported by the Issuer in its prospectus filed on September 21, 2023 with the SEC pursuant to Rule 424 under the Securities Act of 1933, as amended, adjusted to give effect to the completion of the Stock Repurchase.

 

Charles F. Dolan may be deemed to beneficially own an aggreg ate of 4,162,243 shares of Class A Common Stock, including (i) 298,958 shares of Class A Common Stock and (ii) 3,863,285 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 9.3% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 17,773 shares of Class A Common Stock and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 281,185 shares of Class A Common Stock (including 50,307 shares of Class A Common Stock owned of record by the CFD 2009 Trust, 197,288 shares of Class A Common Stock owned of record by the Dolan Family Foundation and 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts), and 3,863,285 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock, (including 112,692 shares of Class B Common Stock owned of record by the HAD 2009 Trust, 228,992 shares of Class B Common Stock owned of record by the CFD 2009 Trust and 3,521,601 shares of Class B Common Stock owned of record by the 2009 Family Trusts). He disclaims beneficial ownership of 197,288 shares of Class A Common Stock owned of record by the Dolan Family Foundation, 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts, 3,521,601 shares of Class B Common Stock owned of record by the 2009 Family Trusts and 3,003,469 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

James L. Dolan may be deemed to beneficially own an aggregate of 2,226,965 shares of Class A Common Stock, including (i) 1,086,173 shares of Class A Common Stock (including options to purchase 630,239 of Class A Common Stock that are exercisable within sixty days of this filing) and (ii) 1,140,792 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 5.2% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 1,239,516 shares of Class A Common Stock (including 383,895 shares of Class A Common Stock owned of record personally, options to purchase 630,239 of Class A Common Stock that are exercisable within sixty days of this filing, 746 shares of Class A Common Stock held as custodian for one or more minor children, and 224,636 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record personally) and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 987,449 shares of Class A Common Stock (including 631 shares of Class A Common Stock owned jointly with his spouse, 26,320 shares of Class A Common Stock owned of record personally by his spouse, 44,342 shares of Class A Common Stock owned of record by the Dolan Children Trust for his benefit and 916,156 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for his benefit). He disclaims beneficial ownership of 746 shares of Class A Common Stock held as custodian for one or more minor children, 26,320 shares of Class A common Stock owned of record personally by his spouse, 44,342 shares of Class A Common Stock and 916,156 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for his benefit and 5,725,962 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

25

 

Thomas C. Dolan may be deemed to beneficially own 858,287 shares of Class A Common Stock, including (i) 389,864 shares of Class A Common Stock and (ii) 468,423 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 2.1% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 369,708 shares of Class A Common Stock owned of record personally and (b) the current shared power to vote or direct the vote of and to dispose of or to direct the disposition of 488,579 shares of Class A Common Stock (including 20,156 shares of Class A Common Stock and 468,423 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for his benefit). He disclaims beneficial ownership of 20,156 shares of Class A Common Stock and 468,423 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for his benefit and 6,398,331 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

Kathleen M. Dolan may be deemed to beneficially own an aggregate of 2,968,527 shares of Class A Common Stock, including (i) 189,694 shares of Class A Common Stock and (ii) 2,778,833 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 6.8% of the shares of Class A Common Stock currently outstanding. She may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 18,632 shares of Class A Common Stock (including 2,378 shares of Class A Common Stock owned of record personally and 936 shares of Class A Common Stock held as custodian for one or more minor children and an aggregate of 15,318 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust) and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 2,949,895 shares of Class A Common Stock (including an aggregate of 137,059 shares of Class A Common Stock owned of record by the Dolan Children Trusts and 49,321 shares of Class A Common Stock owned of record by the Green Mountain Foundation Inc., and an aggregate of 2,763,515 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts). She disclaims beneficial ownership of 936 shares of Class A Common Stock held as custodian for one or more minor children, 49,321 shares of Class A Common Stock owned of record by the Green Mountain Foundation Inc., an aggregate of 137,059 shares of Class A Common Stock owned of record by the Dolan Children Trusts, an aggregate of 2,763,515 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts, an aggregate of 15,318 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust and 4,087,921 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

Marianne Dolan Weber may be deemed to beneficially own an aggregate of 543,407 shares of Class A Common Stock, including (i) 93,255 shares of Class A Common Stock and (ii) 450,152 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 1.3% of the shares of Class A Common Stock currently outstanding. She may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 19,747 shares of Class A Common Stock owned of record personally, and (b) the current shared power to vote or direct the vote of and to dispose of or to direct the disposition of 523,660 shares of Class A Common Stock (including 49,321 shares of Class A Common Stock owned of record by the Heartfelt Wings Foundation Inc., 24,187 shares of Class A Common Stock owned by the Dolan Children Trust for her benefit and 450,152 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for her benefit). She disclaims beneficial ownership of 49,321 shares of Class A Common Stock owned of record by the Heartfelt Wings Foundation Inc., 24,187 shares of Class A Common Stock and 450,152 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for her benefit and 6,416,602 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

26

 

Deborah A. Dolan-Sweeney may be deemed to beneficially own an aggregate of 934,603 shares of Class A Common Stock, including (i) 128,527 shares of Class A Common Stock and (ii) 806,076 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 2.2% of the shares of Class A Common Stock currently outstanding. She may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 10,419 shares of Class A Common Stock owned of record personally, and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 924,184 shares of Class A Common Stock (including 40,200 shares of Class A Common Stock owned of record personally by her spouse, 3,414 shares of Class A Common Stock held by trusts for which her spouse serves as co-trustee, 50,307 shares of Class A Common Stock and 341,684 of Class A Common Stock issuable upon the conversion of an equal number of shares of Class B Common Stock owned of record by the CFD 2009 Trust and HAD 2009 Trust and 24,187 shares of Class A Common and 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for her benefit). She disclaims beneficial ownership of 40,200 shares of Class A Common Stock owned of record personally by her spouse, 3,414 shares of Class A Common Stock held by trusts for which her spouse serves as co-trustee, 50,307 shares of Class A Common Stock and 341,684 of Class A Common Stock issuable upon the conversion of an equal number of shares of Class B Common Stock owned of record by the CFD 2009 Trust and HAD 2009 Trust and 24,187 shares of Class A Common and 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for her benefit and 6,060,678 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

Corby Dolan Leinauer may be deemed to beneficially own an aggregate of 3,562,993 shares of Class A Common Stock, including (i) 41,392 shares of Class A Common Stock and (ii) 3,521,601 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 8.0% of the shares of Class A Common Stock currently outstanding. She may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 192 shares of Class A Common Stock held as custodian for one or more minor children and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 3,562,801 shares of Class A Common Stock (including 154 shares of Class A Common Stock owned jointly with her spouse, 685 shares of Class A Common Stock owned of record by the Leinauer Family Education Trust, 423 shares of Class A Common St ock owned of record by the CFD 2012 Grandchildren Trust FBO Aidan J. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Quentin F. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Marianne R. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Kevyn A. Dolan, 5,079 shares of Class A Common Stock owned of record by the CFD 2012 Descendants Trust, an aggregate of 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts, and an aggregate of 3,521,601 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the 2009 Family Trusts). She disclaims beneficial ownership of 192 shares of Class A Common Stock held as custodian for one or more minor children, 685 shares of Class A Common Stock owned of record by the Leinauer Family Education Trust, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Aidan J. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Quentin F. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Marianne R. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Kevyn A. Dolan, 5,079 shares of Class A Common Stock owned of record by the CFD 2012 Descendants Trust, an aggregate of 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts, an aggregate of 3,521,601 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the 2009 Family Trusts and 3,345,153 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that she is the beneficial owner of such securities. See Exhibit A.

 

27

 

Mary S. Dolan may be deemed to beneficially own an aggregate of 4,057,941 shares of Class A Common Stock, including (i) 71,948 shares of Class A Common Stock and (ii) 3,985,993 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 9.0% of the shares of Class A Common Stock currently outstanding. She may be deemed to have (a) the sole power to vote or direct the vote and to dispose of or direct the disposition of 3,453 shares of Class A Common Stock held as custodian for one or more minor children and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 4,054,488 shares of Class A Common Stock (including 3,947 shares of Class A Common Stock owned jointly with her spouse, 24,187 shares of Class A Common Stock owned of record by the Dolan Children Trust for the benefit of Deborah Dolan-Sweeney, 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for the benefit of Deborah Dolan-Sweeney, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Aidan J. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Quentin F. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Marianne R. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Kevyn A. Dolan, 5,079 shares of Class A Common Stock owned of record by the CFD 2012 Descendants Trust, an aggregate of 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts, and an aggregate of 3,521,601 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the 2009 Family Trusts). She disclaims beneficial ownership of 3,453 shares of Class A Common Stock held as custodian for one or more minor children, 24,187 shares of Class A Common Stock owned of record by the Dolan Children Trust for the benefit of Deborah Dolan-Sweeney, 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for the benefit of Deborah Dolan-Sweeney, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Aidan J. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Quentin F. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Marianne R. Dolan, 423 shares of Class A Common Stock owned of record by the CFD 2012 Grandchildren Trust FBO Kevyn A. Dolan, 5,079 shares of Class A Common Stock owned of record by the CFD 2012 Descendants Trust, an aggregate of 33,590 shares of Class A Common Stock owned of record by the 2009 Family Trusts, an aggregate of 3,521,601 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the 2009 Family Trusts and 2,880,761 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

The CFD 2009 Trust may be deemed to beneficially own an aggregate of 279,299 shares of Class A Common Stock, including (i) 50,307 shares of Class A Common Stock and (ii) 228,992 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,637,762 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Charles F. Dolan and Brian G. Sweeney are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 10 of this Schedule 13D is hereby incorporated by reference.

 

The HAD 2009 Trust may be deemed to beneficially own an aggregate of 112,692 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,754,062 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Charles F. Dolan and Brian G. Sweeney are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 11 of this Schedule 13D is hereby incorporated by reference.

 

The Charles F. Dolan Children Trust FBO Kathleen M. Dolan may be deemed to beneficially own an aggregate of 488,579 shares of Class A Common Stock, including (i) 24,187 shares of Class A Common Stock and (ii) 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,402,362 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan and Paul J. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 12 of this Schedule 13D is hereby incorporated by reference.

 

28

 

The Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney may be deemed to beneficially own an aggregate of 488,579 shares of Class A Common Stock, including (i) 24,187 shares of Class A Common Stock and (ii) 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,402,362 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 13 of this Schedule 13D is hereby incorporated by reference.

 

The Charles F. Dolan Children Trust FBO Marianne Dolan Weber may be deemed to beneficially own an aggregate of 474,339 shares of Class A Common Stock, including (i) 24,187 shares of Class A Common Stock and (ii) 450,152 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,416,602 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan and Matthew J. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 14 of this Schedule 13D is hereby incorporated by reference.

 

The Charles F. Dolan Children Trust FBO Thomas C. Dolan may be deemed to beneficially own an aggregate of 488,579 shares of Class A Common Stock, including (i) 20,156 shares of Class A Common Stock and (ii) 468,423 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,398,331 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan and Matthew J. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 15 of this Schedule 13D is hereby incorporated by reference.

 

The Charles F. Dolan Children Trust FBO James L. Dolan may be deemed to beneficially own an aggregate of 960,498 shares of Class A Common Stock, including (i) 44,342 shares of Class A Common Stock and (ii) 916,156 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 5,950,598 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan and Paul J. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The information contained on page 16 of this Schedule 13D is hereby incorporated by reference.

 

The 2009 Family Trust FBO James L. Dolan may be deemed to beneficially own an aggregate of 1,053,283 shares of Class A Common Stock, including (i) 6,718 shares of Class A Common Stock and (ii) 1,046,565 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 5,820,189 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Corby Dolan Leinauer and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. Charles F. Dolan may be deemed to share power to direct the disposition of the shares held by the trust because he has the right to substitute assets with the trust, subject to the trustees’ reasonable satisfaction that the substitute assets received by the trust are of equal value to the trust property exchanged therefor. The information contained on page 17 of this Schedule 13D is hereby incorporated by reference.

 

29

 

The 2009 Family Trust FBO Thomas C. Dolan may be deemed to beneficially own an aggregate of 659,208 shares of Class A Common Stock, including (i) 6,718 shares of Class A Common Stock and (ii) 652,490 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,214,264 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Corby Dolan Leinauer and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. Charles F. Dolan may be deemed to share power to direct the disposition of the shares held by the trust because he has the right to substitute assets with the trust, subject to the trustees’ reasonable satisfaction that the substitute assets received by the trust are of equal value to the trust property exchanged therefor. The information contained on page 18 of this Schedule 13D is hereby incorporated by reference.

 

The 2009 Family Trust FBO Kathleen M. Dolan may be deemed to beneficially own an aggregate of 621,308 shares of Class A Common Stock, including (i) 6,718 shares of Class A Common Stock and (ii) 614,590 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,252,164 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Corby Dolan Leinauer and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. Charles F. Dolan may be deemed to share power to direct the disposition of the shares held by the trust because he has the right to substitute assets with the trust, subject to the trustees’ reasonable satisfaction that the substitute assets received by the trust are of equal value to the trust property exchanged therefor. The information contained on page 19 of this Schedule 13D is hereby incorporated by reference.

 

The 2009 Family Trust FBO Marianne E. Dolan Weber may be deemed to beneficially own an aggregate of 653,144 shares of Class A Common Stock, including (i) 6,718 shares of Class A Common Stock and (ii) 646,426 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,220,328 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Corby Dolan Leinauer and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. Charles F. Dolan may be deemed to share power to direct the disposition of the shares held by the trust because he has the right to substitute assets with the trust, subject to the trustees’ reasonable satisfaction that the substitute assets received by the trust are of equal value to the trust property exchanged therefor. The information contained on page 20 of this Schedule 13D is hereby incorporated by reference.

 

The 2009 Family Trust FBO Deborah A. Dolan-Sweeney may be deemed to beneficially own an aggregate of 568,248 shares of Class A Common Stock, including (i) 6,718 shares of Class A Common Stock and (ii) 561,530 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. Corby Dolan Leinauer and Mary S. Dolan are the trustees and have the shared power to vote and dispose of the shares held by the trust. The trust disclaims beneficial ownership of 6,305,224 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Charles F. Dolan may be deemed to share power to direct the disposition of the shares held by the trust because he has the right to substitute assets with the trust, subject to the trustees’ reasonable satisfaction that the substitute assets received by the trust are of equal value to the trust property exchanged therefor. The information contained on page 21 of this Schedule 13D is hereby incorporated by reference.

 

The Ryan Dolan 1989 Trust may be deemed to beneficially own an aggregate of 7,659 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,859,095 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan is the trustee and has the sole power to vote and dispose of the shares held by the trust. The information contained on page 22 of this Schedule 13D is hereby incorporated by reference.

 

The Tara Dolan 1989 Trust may be deemed to beneficially own an aggregate of 7,659 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. The trust disclaims beneficial ownership of 6,859,095 shares of Class A Common Stock, issuable upon conversion of an equal number of shares of Class B Common Stock, held by other Reporting Persons hereto, and this report shall not be deemed to be an admission that the trust is the beneficial owner of such securities. Kathleen M. Dolan is the trustee and has the sole power to vote and dispose of the shares held by the trust. The information contained on page 23 of this Schedule 13D is hereby incorporated by reference.

 

30

 

Paul J. Dolan may be deemed to beneficially own an aggregate of 1,510,433 shares of Class A Common Stock, including (i) 129,885 shares of Class A Common Stock, and (ii) 1,380,548 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 3.6% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 15,147 shares of Class A Common Stock owned of record personally and 46,209 shares of Class A Common Stock owned of record by the CFD Trust No. 10 and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 1,449,077 shares of Class A Common Stock (including an aggregate of 68,529 shares of Class A Common Stock owned of record by the Dolan Children Trusts for the benefit of Kathleen M. Dolan and James L. Dolan, and an aggregate of 1,380,548 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts for the benefit of Kathleen M. Dolan and James L. Dolan). He disclaims beneficial ownership of 46,209 shares of Class A Common Stock owned of record by the CFD Trust No. 10, an aggregate of 68,529 shares of Class A Common Stock owned of record by the Dolan Children Trusts for the benefit of Kathleen M. Dolan and James L. Dolan, and an aggregate of 1,380,548 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts for the benefit of Kathleen M. Dolan and James L. Dolan, and this report shall not be deemed to be an admission that he is the beneficial owner of such securities. See Exhibit A.

 

Matthew J. Dolan may be deemed to beneficially own an aggregate of 964,932 shares of Class A Common Stock, including (i) 46,357 shares of Class A Common Stock and (ii) 918,575 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 2.3% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 1,206 shares of Class A Common Stock (including 619 shares of Class A Common Stock owned of record personally and 587 shares of Class A Common Stock held as custodian for a minor child) and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 963,726 shares of Class A Common Stock (including 480 shares of Class A Common Stock owned jointly with his spouse, 328 shares of Class A Common Stock held by his spouse as custodian for a minor child and an aggregate of 44,343 shares of Class A Common stock owned of record by the Dolan Children Trusts for the benefit of Marianne Dolan Weber and Thomas C. Dolan and an aggregate of 918,575 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts for the benefit of Marianne Dolan Weber and Thomas C. Dolan). He disclaims beneficial ownership of 587 shares of Class A Common Stock held as custodian for a minor child, 328 shares of Class A Common Stock held by his spouse as custodian for a minor child and an aggregate of 44,343 shares of Class A Common Stock owned of record by the Dolan Children Trusts for the benefit of Marianne Dolan Weber and Thomas C. Dolan and an aggregate of 918,575 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trusts for the benefit of Marianne Dolan Weber and Thomas C. Dolan, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

Brian G. Sweeney may be deemed to beneficially own an aggregate of 934,603 shares of Class A Common Stock, including (i) 128,527 shares of Class A Common Stock and (ii) 806,076 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock. This aggregate amount represents approximately 2.2% of the shares of Class A Common Stock currently outstanding. He may be deemed to have (a) the sole power to vote or direct the vote of and to dispose of or to direct the disposition of 40,200 shares of Class A Common Stock owned of record personally, and (b) the current shared power to vote or direct the vote of and to dispose of or direct the disposition of 894,403 shares of Class A Common Stock (including 10,419 shares of Class A Common Stock owned of record personally by his spouse, 3,414 shares of Class A Common Stock held by trusts for which he serves as co-trustee, 50,307 shares of Class A Common Stock owned of record by the CFD 2009 Trust for which he serves as co-trustee and, 341,684 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the CFD 2009 Trust and HAD 2009 Trust for which he serves as co-trustee and 24,187 shares of Class A Common Stock owned of record by the Dolan Children Trust for the benefit of his spouse, and 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for the benefit of his spouse. He disclaims beneficial ownership of 10,419 shares of Class A Common Stock owned of record personally by his spouse, 3,414 shares of Class A Common Stock held by trusts for which he serves as co-trustee, 50,307 shares of Class A Common Stock owned of record by the CFD 2009 Trust for which he serves as co-trustee, 341,684 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the CFD 2009 Trust and HAD 2009 Trust for which he serves as co-trustee, 24,187 shares of Class A Common Stock owned of record by the Dolan Children Trust for the benefit of his spouse, and 464,392 shares of Class A Common Stock issuable upon conversion of an equal number of shares of Class B Common Stock owned of record by the Dolan Children Trust for the benefit of his spouse, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities. See Exhibit A.

 

31

 

(c) On September 15, 2023, James L. Dolan acquired 77,689 shares of Class A Common Stock from the Issuer as a result of the vesting of 119,455 restricted stock units and 39,248 performance restricted stock units and the withholding of an aggregate of 81,014 shares of Class A Common Stock to satisfy tax withholding obligations with respect to the vesting of such restricted stock units and performance restricted stock units.

 

(d) See Exhibit A.

 

(e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

The disclosure in Item 6 is hereby amended by adding the following to the end thereof:

 

LOCK-UP AGREEMENTS

 

In connection with the Offering, the individual Reporting Persons entered into lock-up agreements with the underwriters for the Offering prior to the commencement of the Offering pursuant to which each lock-up party, with limited exceptions, for a period of 60 days after September 19, 2023 (such period, the “restricted period”), may not (and may not cause any of their direct or indirect affiliates to), without the prior written consent of J.P. Morgan Securities LLC, (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any shares of Class A Common Stock or any securities convertible into, redeemable for or exercisable or exchangeable for Class A Common Stock (including, without limitation, Class A Common Stock or such other securities beneficially owned by such lock-up parties in accordance with the rules and regulations of the SEC and securities which may be issued upon exercise of a stock option or warrant (collectively with the Class A Common Stock, the “lock-up securities”)), (2) enter into any hedging, swap or other agreement or transaction that transfers, in whole or in part, any of the economic consequences of ownership of the lock-up securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of lock-up securities, in cash or otherwise, (3) make any demand for, or exercise any right with respect to, the registration of any lock-up securities, or (4) publicly disclose the intention to do any of the foregoing. Such persons or entities have further acknowledged and agreed that these undertakings preclude them from engaging in any hedging or other transactions or arrangements (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) designed or intended, or which could reasonably be expected to lead to or result in, a sale or disposition or transfer (by any person or entity, whether or not a signatory to such agreement) of any economic consequences of ownership, in whole or in part, directly or indirectly, of any lock-up securities, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of lock-up securities, in cash or otherwise.

 

The lock-up restrictions described in the immediately preceding paragraph are subject to certain exceptions including, without limitation: (i) transfers as part of a sale of lock-up securities acquired after September 19, 2023, (ii) transfers to the Issuer in connection with the vesting, settlement, or exercise of restricted stock, restricted stock units, options, warrants or other rights to purchase shares of Class A Common Stock, (iii) transfers by operation of law, such as pursuant to a qualified domestic order, divorce settlement, divorce decree or separation agreement, (iv) transfers pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction that is approved by the Issuer’s board of directors and made to all holders of the Issuer’s capital stock involving a change of control of the Issuer, (v) transfers as a bona fide gift or a charitable contribution, or for bona fide estate planning purposes, (vi) transfers pursuant to a will or intestacy and (vii) transfers to any family member or members of any such person or entity, or to any trust or other estate planning vehicle for the direct or indirect benefit of any such person or the family of any such person.

 

The foregoing summary of the lock-up agreements does not purport to be complete and is qualified in its entirety by reference to the form of lock-up agreement, which is filed as Exhibit 5 and is incorporated herein by reference.

 

32

 

Item 7. Material to be Filed as Exhibits.

 

The disclosure in Item 7 is hereby supplemented by adding the following in appropriate numerical order:

 

Exhibit A.1 Amended and Restated Trust and Beneficiary List.
   
Exhibit B.1 Joint Filing Agreement, dated September 25, 2023.
   
Exhibit C.1 Power of Attorney for Helen A. Dolan 2009 Revocable Trust
   
Exhibit 5 Form of Lock-Up Agreement (incorporated herein by reference to Exhibit A to Exhibit 1.1 to the Current Report on Form 8-K of the Issuer filed with the SEC on September 22, 2023).

 

33

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: September 25, 2023

 

  *
  Charles F. Dolan
   
  /s/ James L. Dolan
  James L. Dolan
   
  /s/ Thomas C. Dolan
  Thomas C. Dolan
   
  *
  Kathleen M. Dolan
   
  *
  Marianne Dolan Weber
   
  *
  Deborah A. Dolan-Sweeney
   
  *
  Corby Dolan Leinauer
   
  *
  Mary S. Dolan
   
  Charles F. Dolan 2009 REVOCABLE TRUST
   
  *
  By: Charles F. Dolan, Trustee
   
  /s/ Brian G. Sweeney
  By: Brian G. Sweeney, Trustee

 

 34 

 

 

  Helen A. Dolan 2009 REVOCABLE TRUST
   
  *
  By: Charles F. Dolan, Trustee
   
  /s/ Brian G. Sweeney
  By: Brian G. Sweeney, Trustee
   
  Charles F. Dolan Children Trust FBO Kathleen M. Dolan
   
  Charles F. Dolan Children Trust FBO James L. Dolan
   
  *
  By: Kathleen M. Dolan, Trustee
   
  *
  By: Paul J. Dolan, Trustee
   
  Charles F. Dolan Children Trust FBO Marianne Dolan Weber
   
  Charles F. Dolan Children Trust FBO Thomas C. Dolan
   
  *
  By: Kathleen M. Dolan, Trustee
   
  *
  By: Matthew J. Dolan, Trustee
   
  Charles F. Dolan Children Trust FBO Deborah Dolan-Sweeney
   
  *
  By: Kathleen M. Dolan, Trustee
   
  *
  By: Mary S. Dolan, Trustee

 

 35 

 

 

  CHARLES F. DoLAN 2009 Family Trust FBO Kathleen M. Dolan
   
  CHARLES F. DoLAN 2009 Family Trust FBO Deborah A. Dolan-Sweeney
   
  CHARLES F. DoLAN 2009 Family Trust FBO Marianne E. Dolan Weber
   
  CHARLES F. DoLAN 2009 Family Trust FBO Thomas C. Dolan
   
  CHARLES F. DoLAN 2009 Family Trust FBO James L. Dolan
   
  *
  By: Mary S. Dolan, Trustee
   
  *
  By: Corby Dolan Leinauer, Trustee
   
  Ryan Dolan 1989 Trust
   
  Tara Dolan 1989 Trust
   
  *
  By: Kathleen M. Dolan, Trustee

 

*By: /s/ Brian G. Sweeney  
  Brian G. Sweeney  
  as Attorney-in-Fact