The Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan filed a Form 4 on October 28, 2026, reporting changes in beneficial ownership of MSG Rangers Corp. securities resulting from the spin-off of MSG Rangers Corp. from MSG Knickerbockers Corp.

Key Highlights

  • Reporting person: Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan, identified as a member of a 13(d) Group (MSGK), filed as one reporting person.
  • Spin-off recapitalization: On October 20, 2026, MSGR's 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.
  • Distribution date: On October 26, 2026, MSG Knickerbockers Corp. distributed one share of MSGR Class A and Class B Common Stock for every two shares of MSGK Class A and Class B common stock, respectively.
  • Direct holdings after transactions: The trust directly holds 2,215 shares of Class A Common Stock and 233,982 shares of Class B Common Stock following all reported transactions.
  • Indirect holdings disposed: 9,794,568 shares of Class A Common Stock previously held indirectly through MSG Knickerbockers Corp. and its subsidiaries were disposed of on October 26, 2026, leaving zero indirect shares in that class.
  • Class B convertibility: According to the filing, Class B Common Stock is convertible at the option of the holder on a share-for-share basis into Class A Common Stock.

MSG Rangers Spin-Off Triggers Multiple Ownership Changes for Dolan 2009 Trust

According to the Form 4 filed with the SEC on October 28, 2026, the reported transactions stem from the spin-off of MSG Rangers Corp. (formerly MSGS Spinco, Inc., ticker MSGR on an exchange not separately named in the filing beyond the ticker bracket) from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., referred to in the filing as "MSGK"). The filing discloses that on October 20, 2026, the issued and outstanding common stock of MSGR was recapitalized into Class A Common Stock and Class B Common Stock in a transaction the filing states was "exempt under Rule 16b-7."

On October 26, 2026, MSGK distributed 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 common stock and MSGK Class B common stock held, respectively, in a transaction described as "exempt under Rule 16a-9." As a result of this distribution, the trust directly acquired 2,215 shares of Class A Common Stock and 233,982 shares of Class B Common Stock. All transactions are coded "J" in the filing, consistent with the exchange or other acquisition or disposition codes used for exempt transactions.

Prior to the distribution, the trust held 9,794,568 shares of Class A Common Stock indirectly through MSG Knickerbockers Corp. and its subsidiaries, as well as 2,264,754 shares of Class B Common Stock indirectly through the same entity. Following the October 26, 2026 transactions, the filing reports that all indirectly held shares in both classes were reduced to zero. The filing notes that certain transfers reflect shares "previously owned directly by MSGK and its subsidiaries exempt under Rule 16a-13." The Form 4 was signed by Brian G. Sweeney as Attorney-in-Fact on October 28, 2026.

What Was Disclosed

The filing reports changes in beneficial ownership of MSG Rangers Corp. securities by the Charles F. Dolan 2009 Family Trust FBO Thomas C. Dolan, arising from the MSGR spin-off from MSGK, including a recapitalization on October 20, 2026, and a share distribution on October 26, 2026.