Four Charles F. Dolan Children Trusts filed a joint 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. on October 26, 2026.

Key Highlights

  • Issuer: MSG Rangers Corp. trades on NASDAQ:MSGR, formerly known as MSGS Spinco, Inc., according to the filing.
  • Spin-off ratio: The filing states that 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 and Class B common stock, respectively.
  • Recapitalization date: On October 20, 2026, the issued and outstanding common stock of MSGR was recapitalized into Class A and Class B Common Stock, reported as exempt under Rule 16b-7.
  • Distribution date: The Distribution to MSGK stockholders occurred on October 26, 2026, reported as exempt under Rule 16a-9.
  • Four reporting persons: The trusts are FBO James L. Dolan, FBO Kathleen M. Dolan, FBO Marianne Dolan Weber, and FBO Deborah Dolan-Sweeney, each addressed c/o Dolan Family Office, Woodbury, New York.
  • 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 and Trust Ownership Changes

According to the filing, MSG Rangers Corp. (formerly MSGS Spinco, Inc.) was spun off from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.). The spin-off involved two steps: a recapitalization on October 20, 2026, in which MSGR's outstanding common stock was converted into Class A Common Stock and Class B Common Stock, followed by a Distribution on October 26, 2026, in which MSGK stockholders received one share of each class of MSGR stock for every two corresponding shares of MSGK stock they held.

The four reporting persons are the Charles F. Dolan Children Trusts, each benefiting a different family member: James L. Dolan, Kathleen M. Dolan, Marianne Dolan Weber, and Deborah Dolan-Sweeney. The filing discloses that each trust received shares of MSGR Class A Common Stock and Class B Common Stock in connection with the Distribution, reported as transactions exempt under Rule 16a-9. Additionally, the filing notes a transfer of shares previously owned directly by MSGK and its subsidiaries, reported as exempt under Rule 16a-13.

The filing states that each trust's securities are owned solely by that respective trust, and that the trusts form a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934. Each trust disclaims beneficial ownership of the securities held by the other trusts, and the filing states that such disclosures "shall not be deemed to be an admission that the other Reporting Persons are the beneficial owners of such securities for purposes of Section 16 of the Exchange Act or for any other purpose." The Form 4 was signed by Brian G. Sweeney as Attorney-in-Fact for all four trusts on October 28, 2026.

What Was Disclosed

Four Charles F. Dolan Children Trusts filed jointly to report beneficial ownership changes in MSG Rangers Corp. securities arising from that company's spin-off from MSG Knickerbockers Corp., with the Distribution occurring on October 26, 2026, and the filing submitted on October 28, 2026.