Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2025-12-09

Madison Square Garden Sports (MSGS)

CEO James Dolan was paid $13,150,269 in fiscal year 2025, ↑ up 29.5% from fiscal year 2024 (SEC filing 0001628280-25-046103 ↗): 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.

$13,150,269 ↑
James Dolan total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
98.31%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- James Dolan (Executive Chairman and Chief Executive Officer), FY2025 total compensation $13,150,269 (base salary $1,600,000) [exec_comp, SEC accession 0001628280-25-046103, filed 2025-10-23]

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MSGS's next annual pay disclosure, estimated October 23, 2026.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
James Dolan$1,600,000$0$8,096,246$0$3,040,000$12,999$401,024$13,150,269
Executive Chairman and Chief Executive Officer
Jamaal Lesane1,000,00001,557,35401,187,500056,2293,801,083
Chief Operating Officer
David Granville-Smith800,00001,764,9180760,000046,3533,371,271
Executive Vice President
Victoria Mink949,58901,395,1820950,000051,6013,346,372
Executive Vice President, Chief Financial Officer and Treasurer
Bryan Warner346,575500,000331,3680158,333015,3571,351,633
Senior Vice President, Head of Legal

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
James Dolan$13,150,269$10,154,712$11,020,289↑ +2,995,557
Jamaal Lesane3,801,0832,579,5852,312,706↑ +1,221,498
David Granville-Smith3,371,2713,593,2614,437,075↓ −221,990
Victoria Mink3,346,3723,102,2223,315,794↑ +244,150
Bryan Warner1,351,633———

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

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Companies that benchmark against MSGS
4 companies name MSGS as a compensation peer

Each company listed discloses MSGS 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 MSGS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
David Granville-SmithEVP$3,371,271
James DolanCEO$13,150,269
Bryan WarnerSVP$1,351,633
Jamaal LesaneCOO$3,801,083
Victoria MinkCFO$3,346,372
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Victoria MinkPSU2024-08-292,6962,995—3,295$622,900
Victoria MinkPSU2025-04-23355394—43374,691
Jamaal LesanePSU2024-08-293,3703,744—4,118778,677
David Granville-SmithPSU2024-08-293,8194,243—4,667882,459
Victoria MinkRSU2025-04-23——394—74,691
David Granville-SmithRSU2024-08-29——4,243—882,459
Victoria MinkRSU2024-08-29——2,995—622,900
Jamaal LesaneRSU2024-08-29——3,744—778,677
Bryan WarnerRSU2025-04-23——874—165,684
James DolanRSU2024-08-29——19,464—4,048,123
James DolanPSU2024-08-2917,51819,464—21,4104,048,123
Bryan WarnerPSU2025-04-23787874—961165,684
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Victoria Mink$697,591$697,591$050.0%
Jamaal Lesane778,677778,677050.0%
David Granville-Smith882,459882,459050.0%
Bryan Warner165,684165,684050.0%
James Dolan4,048,1234,048,123050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Victoria MinkPSU16,808—$3,512,032
James DolanPSU90,323—18,872,991
David Granville-SmithPSU29,914—6,250,530
Jamaal LesanePSU15,018—3,138,011
Bryan WarnerPSU1,748—365,245
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy is designed to attract, retain, motivate, and reward experienced NEOs by linking a significant portion of compensation to stockholder returns and pre-determined financial and strategic performance targets. The program emphasizes long-term performance incentives over short-term ones and utilizes equity-based compensation to align executive interests with stockholders.

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
20252025-12-0860,529,1741,043,169227,37098.31%Passed
20242024-12-0460,263,4491,289,95373,89397.9%Passed
20232023-12-1160,607,097410,94969,31299.33%Passed
20222022-12-0954,701,1746,193,75748,16489.83%Passed
20192019-12-1153,732,2805,614,691514,90890.54%Passed
20162016-12-0954,766,3495,358,9151,398,65791.09%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
20252025-12-0898.31%a
20242024-12-0497.9%b
20232023-12-1199.33%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.

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—
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 Sports2025James Dolan$1,600,000$8,096,246$0$3,040,000$13,150,269

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.

10d

Frequently asked questions

Who was the highest-paid executive at Madison Square Garden Sports in fiscal 2025?
As disclosed, James Dolan (Executive Chairman and Chief Executive Officer) was the highest-paid executive at Madison Square Garden Sports in fiscal 2025, with total compensation of $13,150,269.
How did shareholders vote on Madison Square Garden Sports's executive compensation?
As disclosed, 98.31% of shareholders supported Madison Square Garden Sports's executive compensation in the latest say-on-pay vote.

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, James DolanDEF 14A2025-10-230001628280-25-046103Section “Summary Compensation Table” · page 58. As printed: 13,150,269. Filing ↗machine: r2 · c51 · span 638363–638373
2Section 01, Jamaal LesaneDEF 14A2025-10-230001628280-25-046103Section “Summary Compensation Table” · page 58. As printed: 3,801,083. Filing ↗machine: r5 · c51 · span 648702–648711
3Section 01, David Granville-SmithDEF 14A2025-10-230001628280-25-046103Section “Summary Compensation Table” · page 58. As printed: 3,371,271. Filing ↗machine: r8 · c51 · span 659002–659011
4Section 01, Victoria MinkDEF 14A2025-10-230001628280-25-046103Section “Summary Compensation Table” · page 58. As printed: 3,346,372. Filing ↗machine: r11 · c51 · span 669158–669167
5Section 01, Bryan WarnerDEF 14A2025-10-230001628280-25-046103Section “Summary Compensation Table” · page 58. As printed: 1,351,633. Filing ↗machine: r14 · c51 · span 679434–679443
6Section 03, Victoria Mink PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 784182–784189
7Section 03, Victoria Mink PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, Jamaal Lesane PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
9Section 03, David Granville-Smith PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
10Section 03, Victoria Mink RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
11Section 03, David Granville-Smith RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
12Section 03, Victoria Mink RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 789885–789892
13Section 03, Jamaal Lesane RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
14Section 03, Bryan Warner RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
15Section 03, James Dolan RSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
16Section 03, James Dolan PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
17Section 03, Bryan Warner PSUDEF 14A1900-01-010001628280-25-046103Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
18Section 06, 2025 voteForm 8-K2025-12-090001193125-25-312756Item 5.07 · say-on-pay result. As reported: 98.31% (votes for as printed: 60,529,174). Filing ↗
19Section 06, 2024 voteForm 8-K2024-12-050001193125-24-271572Item 5.07 · say-on-pay result. As reported: 97.9% (votes for as printed: 60,263,449). Filing ↗
20Section 06, 2023 voteForm 8-K2023-12-120001193125-23-293398Item 5.07 · say-on-pay result. As reported: 99.33% (votes for as printed: 60,607,097). Filing ↗
21Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
22Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
23Madison Square Garden Sports (subject), Section 10b CEO totalDEF 14A2025-10-230001628280-25-046103CEO total compensation as printed in Madison Square Garden Sports's own proxy. As printed: 13,150,269. Filing ↗machine: r2 · c51 · span 638363–638373