James Lawrence Dolan, Executive Chairman and CEO of MSG Rangers Corp., filed a Form 4 on October 28, 2026, reporting multiple changes in beneficial ownership tied to the spin-off of MSG Rangers Corp. from MSG Knickerbockers Corp. on October 26, 2026.

Key Highlights

  • Spin-off distribution: On October 26, 2026, MSG Knickerbockers Corp. distributed one share of MSG Rangers Corp. Class A Common Stock and Class B Common Stock for every two shares of the respective MSGK classes held by stockholders.
  • Direct Class A holdings: Dolan acquired 102,460 shares of Class A Common Stock directly in connection with the Distribution, including 208 shares held jointly with his spouse, according to the filing.
  • Indirect Class A holdings: An additional 2,505 shares were acquired indirectly through his spouse, and 245 shares were acquired indirectly through a minor child and household member.
  • Class B Common Stock: Dolan acquired 25,725 shares of Class B Common Stock directly in connection with the Distribution; Class B shares are convertible at the holder's option into Class A shares on a share-for-share basis.
  • RSU awards: Dolan received 3,244 RSUs vesting September 15, 2027; 6,509 RSUs vesting in two equal installments on September 15, 2027 and September 15, 2028; and 4,875 RSUs vesting in three equal installments on September 15, 2027, September 15, 2028, and September 15, 2029, all under the MSGR 2026 Employee Stock Plan.
  • Recapitalization: On October 20, 2026, issued and outstanding MSGR common stock was recapitalized into Class A and Class B Common Stock in a transaction the filing states was exempt under Rule 16b-7.

MSG Rangers Corp. Spin-Off Triggers Dolan Ownership Disclosures

According to the filing, MSG Rangers Corp. (NASDAQ:MSGR), formerly known as MSGS Spinco, Inc., was spun off from MSG Knickerbockers Corp., formerly Madison Square Garden Sports Corp. James Lawrence Dolan, who serves as Executive Chairman and CEO of MSG Rangers Corp. and is also identified as a director and member of a reporting group, reported a series of transactions arising from the corporate separation. The earliest transaction date listed in the filing is October 20, 2026, when a recapitalization of MSGR's common stock took place, followed by the distribution itself on October 26, 2026.

The filing describes the Distribution as a transaction exempt under Rule 16a-9, in which MSGK stockholders received one MSGR Class A share and one MSGR Class B share for every two shares of the corresponding MSGK class they held. As a result of that distribution, Dolan directly acquired 102,460 shares of Class A Common Stock. Indirectly, through his spouse, he acquired 2,505 Class A shares, and through a minor child and household member, 245 Class A shares. The filing states that Dolan disclaims beneficial ownership of the shares held by his spouse and minor children and household members, and that the filing "shall not be deemed an admission" of beneficial ownership for those securities.

In addition to the common stock transactions, the filing reports that Dolan received restricted stock units under the MSGR 2026 Employee Stock Plan. Each RSU represents a right to receive one share of Class A Common Stock or the cash equivalent thereof. The filing notes these RSUs were acquired at $0 price in connection with the Distribution, with Dolan receiving one MSGR RSU for every two MSGK RSUs he previously held, in transactions exempt under Rules 16a-9, 16b-6, and 16b-3. Following all reported transactions, Dolan holds 25,725 Class B shares and 102,460 Class A shares directly, plus 14,628 RSUs directly.

What Was Disclosed

The filing reported James Lawrence Dolan's acquisition of Class A and Class B Common Stock and restricted stock units in MSG Rangers Corp. as a result of the October 26, 2026 spin-off distribution from MSG Knickerbockers Corp., with all key transactions described as exempt from Section 16 short-swing profit rules.