Corby Dolan Leinauer, a trustee of a 13(d) group member, filed a Form 4 with the SEC on October 28, 2026, reporting changes in beneficial ownership of MSG Rangers Corp. (NASDAQ:MSGR) shares resulting from the spin-off of that company from MSG Knickerbockers Corp.

Key Highlights

  • Spin-off completed: MSG Rangers Corp. (formerly MSGS Spinco, Inc.) was spun off from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.), with the distribution occurring on October 26, 2026.
  • Distribution ratio: According to the filing, MSGK distributed one share of MSGR Class A Common Stock and Class B Common Stock for every two shares of MSGK Class A and Class B common stock, respectively.
  • Recapitalization on October 20, 2026: MSGR's issued and outstanding common stock was recapitalized into Class A and Class B common shares, reported as exempt under Rule 16b-7.
  • Post-distribution Class A holdings: Following the distribution, the reporting person holds 82 shares directly (including shares held jointly with spouse), 88 shares indirectly through household members, and 277 shares indirectly through the Leinauer Family Education Trust.
  • Class B convertible: The filing states that Class B Common Stock is convertible at the option of the holder on a share-for-share basis into Class A Common Stock.
  • Beneficial ownership disclaimers: The reporting person disclaimed beneficial ownership of shares held by household members and shares held by the Leinauer Family Education Trust.

MSG Rangers Spin-Off Triggers Ownership Disclosures for Dolan Leinauer

The Form 4 filed by Corby Dolan Leinauer on October 28, 2026, covers a series of transactions tied to the spin-off of MSG Rangers Corp. from MSG Knickerbockers Corp. According to the filing, on October 20, 2026, MSGR's issued and outstanding common stock was recapitalized into Class A and Class B common stock in a transaction the filing describes as exempt under Rule 16b-7. Prior to the distribution, the reporting person held beneficial interests in MSGR through MSG Knickerbockers Corp. and its subsidiaries, including 9,794,568 shares of Class A Common Stock and 2,264,754 shares of Class B Common Stock held indirectly.

On October 26, 2026, the distribution was completed, with MSGK distributing one share of MSGR Class A Common Stock and one share of MSGR Class B Common Stock for every two shares of MSGK Class A and MSGK Class B common stock, respectively, in a transaction reported as exempt under Rule 16a-9. Following that distribution, the 9,794,568 indirectly held Class A shares through MSG Knickerbockers Corp. and its subsidiaries, and the 2,264,754 indirectly held Class B shares through the same entities, were reduced to zero, reflecting the completion of the spin-off reorganization.

After the distribution, Dolan Leinauer reported direct ownership of 82 shares of Class A Common Stock (including shares held jointly with spouse), 88 shares indirectly through household members, and 277 shares indirectly through the Leinauer Family Education Trust, for which she serves as trustee. The reporting person disclaimed beneficial ownership of shares attributed to household members and to the Leinauer Family Education Trust, noting in the filing that such disclosures "shall not be deemed an admission" of beneficial ownership for Section 16 purposes. The filing was signed by Brian G. Sweeney as Attorney-in-Fact for Corby Dolan Leinauer.

What Was Disclosed

Corby Dolan Leinauer, a trustee of a 13(d) group member, reported ownership changes in NASDAQ:MSGR shares resulting from MSGR's spin-off from MSG Knickerbockers Corp., with the distribution occurring October 26, 2026, and post-distribution direct and indirect holdings totaling 447 shares of Class A Common Stock.