X0306 4 2020-10-08 0 0001795250 Madison Square Garden Entertainment Corp. MSGE 0000933028 DOLAN JAMES LAWRENCE TWO PENNSYLVANIA PLAZA NEW YORK NY 10121 1 1 0 1 Executive Chairman and CEO Member of 13(d) Group 0001480991 Dolan Kristin A TWO PENNSYLVANIA PLAZA NEW YORK NY 10121 1 0 0 0 Options (Right to Buy) 94.56 2020-10-08 4 D 0 125015 D 2026-04-03 Class A Common Stock 125015 0 D Options (Right to Buy) 104.02 2020-10-08 4 D 0 144245 D 2026-04-03 Class A Common Stock 144245 0 D Options (Right to Buy) 118.21 2020-10-08 4 D 0 179732 D 2026-04-03 Class A Common Stock 179732 0 D Mr. Dolan voluntarily relinquished the awards of stock options in connection with the effective date of a settlement (the "Settlement") of a derivative action filed by a purported stockholder of Madison Square Garden Sports Corp. ("MSGS") in connection with certain compensation packages for Mr. Dolan. Mr. Dolan entered into the Settlement solely because it will eliminate the distraction, burden, delay and expense of further litigation involving the claims to be released in the Settlement and will permit Madison Square Garden Entertainment Corp. (the "Company") to operate without further distraction to and diversion of its directors and executives with respect to the action or similar claims, especially as the Company focuses on operating as a standalone public company and on significant strategic initiatives. The options were originally scheduled to vest in four equal installments on September 15, 2019, September 15, 2020, September 15, 2021 and September 15, 2022. Securities were held directly by James L. Dolan, Kristin A. Dolan's spouse or jointly by James L. Dolan and Kristin A. Dolan. Ms. Dolan disclaimed beneficial ownership of these securities beneficially owned or deemed to be beneficially owned by Mr. Dolan (other than securities held jointly with her spouse) and this report shall not be deemed to be an admission that she is, for the purposes of Section 16 or for any other purpose, the beneficial owner of such securities. Mr. Dolan also voluntarily relinquished the award of performance stock units granted by the Company in connection with the distribution of the Company's common stock to the stockholders of MSGS in respect of the MSGS performance stock units with a grant date fair value of $10 million in connection with the Settlement. See also note 3. /s/ James L. Dolan 2020-10-09 /s/ Emma Y. Barnett, Attorney-in-Fact for Kristin A. Dolan 2020-10-09