MSGC Directors Take Big Stakes in Spin‑Off Plan, Backing Knicks and Rangers Split with New RSU Grants

Insider Buying Signals the Next Chapter for Madison Square Garden Sports

The latest Form 4 filed on February 17, 2026 shows PELTZ NELSON, a long‑time non‑employee director, acquiring 265 restricted stock units (RSUs) of Madison Square Garden Sports Corp. (MSGC). With the transaction price recorded at $0.00—reflecting the RSU grant rather than a cash purchase—Nelson’s post‑trade ownership rises to 9,374 shares, a 16‑fold increase from his 506‑share holding as of December 2025. The grant, fully vested on the grant date, is part of the company’s 2015 stock plan for non‑employee directors, indicating that the board views the upcoming spin‑off of the Knicks and Rangers as a catalyst for long‑term value creation.

Implications for Investors

The insider activity comes at a critical juncture. MSGC’s stock surged 18.10 % in the week leading up to the filing, and the market cap stands at $7.07 billion amid a 61.76 % annual gain. The negative price‑earnings ratio of –429.97 underscores a valuation based largely on future growth expectations rather than current profitability. Nelson’s purchase, coupled with similar RSU grants to other insiders—Alan D. Schwartz, Vincent Tese, Anthony J. Vinciquerr, and Ivan G. Seidengberg—suggests a coordinated confidence in the spin‑off strategy. For investors, this can be read as an endorsement that the company’s planned split will unlock shareholder value, potentially leading to a higher overall market cap once the two franchises become standalone entities.

What the Spin‑Off Means for the Company’s Future

MSGC’s announcement to separate the Knicks and Rangers into independent, publicly traded companies is a bold structural shift. By creating two focused investment vehicles, the company can tailor capital allocation, strategic priorities, and governance structures to each franchise’s unique market dynamics. This is expected to improve operational efficiencies and attract investors who prefer a more specialized portfolio. The RSU grants to directors signal that the board is aligning its interests with those of shareholders, reinforcing market confidence. If the spin‑off proceeds smoothly, MSGC could see its share price further buoyed by the anticipated tax‑efficient distribution and the ability to pursue franchise‑specific growth initiatives.

A Profile of PELTZ NELSON

Nelson has been a consistent participant in MSGC’s insider transactions. In December 2025, he purchased 727 RSUs twice, bringing his post‑transaction holdings to 9,109 shares. Unlike many insiders who hold only common stock, Nelson’s preference for RSUs indicates a long‑term commitment, as these units vest over time and are often tied to performance metrics. His ownership trajectory—rising from 506 shares to over 9,300—suggests an increasing stake in the company’s future, especially as the spin‑off moves closer to completion. Historically, Nelson has refrained from selling shares, which could be interpreted as a belief in the company’s upside potential.

Conclusion

The recent insider buying by PELTZ NELSON—and his peers—provides a positive signal for investors amid MSGC’s significant structural changes. With the spin‑off likely to unlock substantial value, the insiders’ confidence could translate into a continued upward trajectory for the stock. As the market digests the implications of separating the Knicks and Rangers, investors should monitor how these insider transactions evolve and whether they foreshadow further strategic moves by the company.