The Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust jointly filed a Form 4 with the SEC on October 28, 2026, disclosing changes in beneficial ownership of MSG Rangers Corp. securities arising from the spin-off of MSG Rangers Corp. from MSG Knickerbockers Corp.

Key Highlights

  • Issuer: MSG Rangers Corp. trades on NASDAQ:MSGR, formerly known as MSGS Spinco, Inc.
  • Spin-off distribution date: On October 26, 2026, MSG Knickerbockers Corp. distributed one share of MSGR Class A Common Stock and one share of Class B Common Stock for every two shares of MSGK Class A and Class B common stock, respectively.
  • Class A shares disposed: The Ryan Dolan 1989 Trust reported the disposition of 9,794,568 shares of Class A Common Stock held indirectly through MSG Knickerbockers Corp. and its subsidiaries, leaving a remaining balance of 0 shares in that indirect holding.
  • Class B shares received: Each of the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust received 2,526 shares of MSGR Class B Common Stock directly in connection with the Distribution, as reported under Rule 16a-9.
  • Transaction codes: All reported transactions are coded "J" and are described as exempt under Rule 16b-7 (recapitalization) or Rule 16a-9 (spin-off distribution), or Rule 16a-13 (transfer).
  • Group filing: The form was filed jointly by the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust, each identified as a member of a Section 13(d) group, with each trust disclaiming beneficial ownership of the other's securities.

MSG Rangers Corp. Spin-Off Triggers Ownership Changes for Dolan Family Trusts

According to the filing, MSG Rangers Corp. (formerly MSGS Spinco, Inc.) was spun off from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp.). As part of the recapitalization on October 20, 2026, the issued and outstanding common stock of MSGR was converted into MSGR Class A Common Stock and MSGR Class B Common Stock in a transaction the filing describes as exempt under Rule 16b-7. The Ryan Dolan 1989 Trust previously held 9,794,568 shares of Class A Common Stock indirectly through MSG Knickerbockers Corp. and its subsidiaries; following the October 26, 2026 distribution, those indirect holdings were reported as disposed of, with a resulting balance of zero.

The filing further discloses that on October 26, 2026, each of the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust received 2,526 shares of MSGR Class B Common Stock directly, in connection with the Distribution and exempt under Rule 16a-9. The filing notes that Class B Common Stock is convertible at the option of the holder on a share-for-share basis into Class A Common Stock. An additional transfer of shares previously owned directly by MSGK and its subsidiaries is reported as exempt under Rule 16a-13.

Both trusts are identified as reporting persons and as members of a Section 13(d) group with each other. The filing states that the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust each disclaim beneficial ownership of the other's securities, and that the filing "shall not be deemed to be an admission that the other Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose." Both trusts are addressed care of Knickerbocker Group LLC, PO Box 420, Oyster Bay, New York 11771, and the form was signed by Brian G. Sweeney as attorney-in-fact for each trust on October 28, 2026.

What Was Disclosed

The filing reports changes in beneficial ownership of NASDAQ:MSGR securities by the Ryan Dolan 1989 Trust and the Tara Dolan 1989 Trust, stemming from the October 2026 spin-off of MSG Rangers Corp. from MSG Knickerbockers Corp., including the receipt of 2,526 shares of Class B Common Stock directly by each trust.