The Kathleen M. Dolan 2012 Descendants Trust filed a Form 4 with the SEC 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

  • Spin-off issuer: MSG Rangers Corp. (formerly MSGS Spinco, Inc.) was spun off from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.).
  • Recapitalization date: On October 20, 2026, the issued and outstanding common stock of MSG Rangers Corp. was recapitalized into Class A Common Stock 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 Class A Common Stock and one share of Class B Common Stock for every two shares of MSG Knickerbockers Corp. Class A and Class B common stock, respectively, in a transaction described as exempt under Rule 16a-9.
  • Class A shares after distribution: Following the October 26, 2026 distribution, the trust's indirect beneficial ownership of Class A Common Stock (held via MSG Knickerbockers Corp. and its subsidiaries) fell to 0 shares.
  • Class B shares directly held: The trust directly holds 500 shares of Class B Common Stock received in connection with the distribution, reflecting a transfer exempt under Rule 16a-13.
  • 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 Corp. Spin-Off Triggers Ownership Changes for Dolan 2012 Trust

According to the filing, the transactions reported relate to the spin-off of MSG Rangers Corp. (NASDAQ:MSGR), formerly known as MSGS Spinco, Inc., from MSG Knickerbockers Corp., formerly known as Madison Square Garden Sports Corp. The Kathleen M. Dolan 2012 Descendants Trust, which the filing identifies as a member of a 13(d) group, reported a series of code "J" transactions across both Table I (non-derivative securities) and Table II (derivative securities).

On October 20, 2026, in connection with the recapitalization, the trust's indirect holdings (via MSG Knickerbockers Corp. and its subsidiaries) reflected an acquisition of 9,794,568 shares of Class A Common Stock and 2,264,754 shares of Class B Common Stock. These transactions are described in the filing as exempt under Rule 16b-7. Subsequently, on October 26, 2026, those same indirect holdings of 9,794,568 shares of Class A Common Stock and 2,264,754 shares of Class B Common Stock were disposed of, bringing indirect beneficial ownership in each class to 0, in transactions described as exempt under Rule 16a-9.

Separately, the trust directly received 500 shares of Class B Common Stock on October 26, 2026, in connection with the distribution. The filing notes this reflects a transfer of shares previously owned directly by MSG Knickerbockers Corp. and its subsidiaries, exempt under Rule 16a-13. In Table I, the trust also reported a disposal of 100 shares of Common Stock (par value $0.01 per share) held indirectly via MSG Knickerbockers Corp. and its subsidiaries on October 20, 2026, leaving 0 shares of that security held indirectly. The form was signed by Richard Baccari as attorney-in-fact on October 28, 2026.

What Was Disclosed

The Kathleen M. Dolan 2012 Descendants Trust disclosed beneficial ownership changes in MSG Rangers Corp. securities arising from the company's spin-off from MSG Knickerbockers Corp., including a recapitalization on October 20, 2026 and a share distribution on October 26, 2026.