Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2025-12-11

Madison Square Garden Entertainment (MSGE)

CEO James Dolan was paid $14,154,313 in fiscal year 2025: executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$14,154,313
Current NEOs total, FY2025
Executive Chairman — highest-paid officer; CEO James Dolan: $14,154,313
—
CEO (James Dolan) pay percentile vs peers
—
CEO-to-median pay ratio
98.89%
Say-on-pay support, latest vote

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Companies that benchmark against MSGE
2 companies name MSGE as a compensation peer

Each company listed discloses MSGE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MSGE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Current NEOs$1,500,000$0$9,251,012$0$3,000,000$0$403,301$14,154,313
Executive Chairman
James Dolan1,500,00009,251,012—3,000,0000403,30114,154,313
Executive Chairman and Chief Executive Officer
Michael Grau285,75301,075,7520278,61002,815,4684,455,583
Former Executive Vice President and Chief Financial Officer
Philip D’Ambrosio750,00001,506,0020548,438044,0342,848,474
Executive Vice President and Treasurer
Layth Taki404,110250,0001,209,1440203,125018,7842,085,163
Senior Vice President, Controller and Principal Accounting Officer
Laura Franco550,0000753,0420536,250030,5771,869,869
Executive Vice President and General Counsel
Lee Weinberg565,6900753,0420277,5735,98631,9231,634,214
Senior Vice President, Business and Financial Operations and Former Interim Chief Financial Officer
David Collins149,589450,000466,3560004,6191,070,564
Executive Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Current NEOs$14,154,313$10,229,763$9,307,439+3,924,550
James Dolan14,154,31314,154,31314,154,313+0
Michael Grau4,455,5831,536,248—+2,919,335
Philip D’Ambrosio2,848,4742,810,8611,137,715+37,613
Layth Taki2,085,163———
Laura Franco1,869,8692,011,121—−141,252
Lee Weinberg1,634,214———
David Collins1,070,564———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Layth TakiPSU37,193—$1,486,604
David CollinsPSU14,345—573,370
Michael GrauPSU18,214—728,014
Philip D’AmbrosioPSU79,190—3,165,224
Lee WeinbergPSU43,868—1,753,404
DolanPSU508,756—20,334,977
Laura FrancoPSU40,346—1,612,630
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to attract, retain, motivate, and reward experienced executive officers by aligning their interests with stockholders through a significant portion of at-risk compensation. The program emphasizes long-term performance incentives over short-term ones and utilizes equity-based compensation to drive long-term stockholder value and financial performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantClearBridge Compensation Group LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-12-10103,196,5721,159,04412,91698.89%Passed
20242024-12-11103,191,0701,215,8199,64798.84%Passed
20232023-12-06102,040,4911,495,50839,69898.56%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20252025-12-1098.89%a
20242024-12-1198.84%b
20232023-12-0698.56%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Frederic V. SalernoIndependent · Audit (Chair) · Compensation$115,000$154,275———$269,275
Donna M. ColemanIndependent · Audit · Compensation (Chair)115,000152,790———267,790
Martin BandierIndependent · Audit · Compensation105,000152,790———257,790
Marianne Dolan WeberNot independent75,000152,790———227,790
Thomas C. DolanNot independent75,000152,790———227,790
Ryan T. DolanNot independent75,000152,790———227,790
Brian G. SweeneyNot independent75,000152,790———227,790
Paul J. DolanNot independent75,000152,790———227,790
Quentin F. DolanNot independent75,000152,790———227,790
Claire D. SweeneyNot independent · Newly elected18,750110,567———129,317
James L. DolanEmployee director · Board Chair—————0
Charles P. DolanNot independent——————
Former Non-Employees DirectorsIndependent——————
Current Non-Employees DirectorsIndependent——————
Charles F. DolanNot independent · Not standing for re-election · Departed during FY——————
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$160,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 10,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$803,750
Equity awards (grant-date value)$1,487,162
All other compensation$0
Total cost of the board$2,290,912

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Madison Square Garden Entertainment2025James Dolan$1,500,000$9,251,012—$3,000,000$14,154,313

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Madison Square Garden Entertainment in fiscal 2025?
The filing identifies the Executive Chairman as the highest-paid executive, with total compensation of $14,154,313.
How does Madison Square Garden Entertainment's chief executive pay compare to its disclosed peer group?
The CEO pay percentile relative to the disclosed peer group is not disclosed in this filing.
What is Madison Square Garden Entertainment's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on Madison Square Garden Entertainment's executive compensation?
Shareholders voted 98.89% in support of the executive compensation proposal.
How much does Madison Square Garden Entertainment spend in total on board compensation for fiscal 2025?
The company reported total board compensation of $2,290,912 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Current NEOsDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 14,154,313. Filing ↗machine: r3 · c54 · span 665635–665645
2Section 01, James DolanDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 14,154,313. Filing ↗
3Section 01, Michael GrauDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 4,455,583. Filing ↗machine: r16 · c54 · span 705405–705414
4Section 01, Philip D’AmbrosioDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 2,848,474. Filing ↗machine: r10 · c54 · span 688694–688703
5Section 01, Layth TakiDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 2,085,163. Filing ↗machine: r13 · c54 · span 698701–698710
6Section 01, Laura FrancoDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 1,869,869. Filing ↗machine: r8 · c54 · span 681235–681244
7Section 01, Lee WeinbergDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 1,634,214. Filing ↗machine: r18 · c54 · span 712811–712820
8Section 01, David CollinsDEF 14A2025-10-240001628280-25-046267Section “2025 Summary Compensation Table” · page 58. As printed: 1,070,564. Filing ↗machine: r6 · c54 · span 676394–676403
9Section 08, Frederic V. SalernoDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 269,275. Filing ↗machine: span 311370–311587
10Section 08, Donna M. ColemanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 267,790. Filing ↗machine: span 309972–310214
11Section 08, Martin BandierDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 257,790. Filing ↗machine: span 308763–308980
12Section 08, Marianne Dolan WeberDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 302806–303048
13Section 08, Thomas C. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 307581–307823
14Section 08, Ryan T. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 306374–306591
15Section 08, Brian G. SweeneyDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 312578–312820
16Section 08, Paul J. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 303986–304203
17Section 08, Quentin F. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 227,790. Filing ↗machine: span 305194–305436
18Section 08, Claire D. SweeneyDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 129,317. Filing ↗machine: span 313844–314086
19Section 08, James L. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Charles P. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: —. Filing ↗
21Section 08, Former Non-Employees DirectorsDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: —. Filing ↗
22Section 08, Current Non-Employees DirectorsDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: —. Filing ↗
23Section 08, Charles F. DolanDEF 14A2025-10-240001628280-25-046267Section “Director Compensation”. As printed: —. Filing ↗
24Section 06, 2025 voteForm 8-K2025-12-110001193125-25-315971Item 5.07 · say-on-pay result. As reported: 98.89% (votes for as printed: 103,196,572). Filing ↗
25Section 06, 2024 voteForm 8-K2024-12-120001193125-24-277069Item 5.07 · say-on-pay result. As reported: 98.84% (votes for as printed: 103,191,070). Filing ↗
26Section 06, 2023 voteForm 8-K2023-12-070001193125-23-290703Item 5.07 · say-on-pay result. As reported: 98.56% (votes for as printed: 102,040,491). Filing ↗
27Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
28Section 09b board cost (computed)Computed——Cash 803,750 + equity 1,487,162 + all other 0 = 2,290,912, summed across the director compensation table rows.machine: formula: Σ = 2,290,912
29Madison Square Garden Entertainment (subject), Section 10b CEO totalDEF 14A2025-10-240001628280-25-046267CEO total compensation as printed in Madison Square Garden Entertainment's own proxy. As printed: 14,154,313. Filing ↗

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