Jamaal T. Lesane, EVP and Chief Legal Officer of MSG Rangers Corp., filed a Form 4 on October 28, 2026, reporting the acquisition of Class A Common Stock and restricted stock units in connection with the October 26, 2026 distribution by MSG Knickerbockers Corp.

Key Highlights

  • Shares received: Lesane acquired 4,469 shares of Class A Common Stock at $0.00 per share on October 26, 2026, via transaction code J.
  • Distribution ratio: According to the filing, MSGK distributed one share of MSGR Class A common stock for every two shares of MSGK Class A common stock held.
  • RSUs converted: Three tranches of restricted stock units totaling 2,814 MSGR RSUs were acquired at $0.00, reflecting a one-for-two conversion of existing MSGK RSUs.
  • RSU vesting schedule: The three RSU tranches carry settlement dates of September 15, 2027; September 15, 2028; and September 15, 2029, respectively.
  • Exempt transactions: All transactions were reported as exempt under Rules 16a-9, 16b-3, and, for RSUs, 16b-6.
  • Company background: The filing notes MSG Rangers Corp. was formerly named MSGS Spinco, Inc., and MSGK was formerly Madison Square Garden Sports Corp.

Lesane's Holdings in MSG Rangers Corp. Following the October 2026 Spin-Off

According to the Form 4 filed on October 28, 2026, Jamaal T. Lesane, serving as EVP and Chief Legal Officer of MSG Rangers Corp. (NASDAQ:MSGR), reported changes in beneficial ownership arising from the spin-off distribution completed on October 26, 2026. MSG Knickerbockers Corp., formerly Madison Square Garden Sports Corp., distributed shares of MSGR to its stockholders, with one share of MSGR Class A common stock issued per every two shares of MSGK Class A common stock. As a result, Lesane received 4,469 shares of Class A Common Stock directly, at a reported price of $0.00, with beneficial ownership of 4,469 shares following the transaction.

In Table II, the filing reports three separate RSU tranches converted in connection with the same distribution. Lesane received 624 RSUs scheduled to vest and settle on September 15, 2027, corresponding to an original MSGK award dated August 29, 2024. A second tranche of 1,252 RSUs, derived from a MSGK award dated August 21, 2025, is scheduled to vest and settle in two equal installments on September 15, 2027 and September 15, 2028. A third tranche of 938 RSUs, from a MSGK award dated August 26, 2026, is scheduled to vest and settle in three equal installments on September 15, 2027, September 15, 2028, and September 15, 2029. All RSUs are granted under the MSGR 2026 Employee Stock Plan, with each unit representing a right to receive one share of Class A Common Stock or the cash equivalent thereof.

The filing states that each RSU acquisition was made "in a transaction exempt under Rules 16a-9, 16b-6 and 16b-3," and that the reporting person received one MSGR RSU in respect of every two MSGK RSUs. The Form 4 was signed by Mark C. Cresitello as Attorney-in-Fact for Jamaal T. Lesane and dated October 28, 2026.

What Was Disclosed

The filing discloses Lesane's receipt of 4,469 shares of MSGR Class A Common Stock and 2,814 total RSUs through the MSGK spin-off distribution on October 26, 2026, with all transactions reported as exempt and priced at $0.00.