MSGS Spinco: Quentin F. Dolan receives 220 shares

The 25 MSGR restricted stock units are scheduled to vest and settle on September 15, 2027, with each representing a right to one Class A share or cash equivalent.

Rhea-AI Filing Summary

MSGS Spinco, Inc. (MSGR) reporting person Quentin F. Dolan, President & COO, NY Rangers, acquired 220 Class A common shares in a distribution by MSG Knickerbockers Corp. on October 26, 2026. He also received 442 Class A shares for vested MSGK restricted stock units and 25 MSGR restricted stock units for unvested MSGK units.

The 25 MSGR units each represent the right to receive one Class A share or its cash equivalent and are scheduled to vest and settle on September 15, 2027. The distribution provided one MSGR Class A share for every two MSGK Class A shares; vested and unvested MSGK RSUs were exchanged at one MSGR share or RSU, respectively, for every two prior-company RSUs.

Insider Trade Summary

Other: 687 shares

Other 3 txns

Insider DOLAN QUENTIN F

Role President & COO, NY Rangers

Type	Security	Shares	Price	Value
Other	Restricted Stock Units F3, F4, F5	25	$0.00	$0.00
Other	Class A Common Stock F1	220	--	--
Other	Class A Common Stock F2	442	--	--

Holdings After Transaction: Restricted Stock Units — 25 contracts (Direct); Class A Common Stock — 662 shares (Direct)

Footnotes (5)

1. F1. Represents securities of MSG Rangers Corp. (formerly MSGS Spinco, Inc., and referred to herein as "MSGR") received in connection with the distribution by MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., and referred to herein as "MSGK") of outstanding common stock of MSGR to MSGK stockholders, effected on October 26, 2026 (the "Distribution"). In the Distribution, MSGK distributed one share of MSGR's Class A common stock ("Class A Common Stock") and one share of MSGR's Class B common stock to MSGK stockholders for every two shares of MSGK Class A common stock and MSGK Class B common stock, respectively, in a transaction exempt under Rule 16a-9.
2. F2. Represents Class A Common Stock received by the Reporting Person in connection with the Distribution pursuant to vested MSGK restricted stock units ("RSUs"), in a transaction exempt under Rules 16a-9 and 16b-3. The shares of Class A Common Stock were granted pursuant to the MSGR 2026 Stock Plan for Non-Employee Directors. Reporting Person received one share of Class A Common Stock in respect of every two vested MSGK RSUs.
3. F3. Each RSU is granted under the MSGR 2026 Employee Stock Plan and represents the right to receive one share of Class A Common Stock or the cash equivalent thereof.
4. F4. Reflects the acquisition of RSUs in connection with the Distribution in a transaction exempt under Rules 16a-9, 16b-6 and 16b-3. Reporting Person received one MSGR RSU in respect of every two unvested MSGK RSUs.
5. F5. Pursuant to the terms of Reporting Person's MSGK RSU award dated August 29, 2024, the RSUs are scheduled to vest and settle on September 15, 2027.

Key Figures

Class A common shares received: 220 shares Class A shares received for vested MSGK RSUs: 442 shares MSG R restricted stock units received for unvested MSGK RSUs: 25 RSUs +3 more

6 metrics

Class A common shares received 220 shares Received in the distribution on October 26, 2026

Class A shares received for vested MSGK RSUs 442 shares Received on October 26, 2026

MSG R restricted stock units received for unvested MSGK RSUs 25 RSUs Scheduled to vest and settle on September 15, 2027

Distribution ratio 1 MSGR Class A share per 2 MSGK Class A shares Distribution on October 26, 2026

Exchange ratio for vested MSGK RSUs 1 MSGR Class A share per 2 vested MSGK RSUs Shares received on October 26, 2026

Exchange ratio for unvested MSGK RSUs 1 MSGR RSU per 2 unvested MSGK RSUs RSUs received on October 26, 2026

Key Terms

restricted stock units, Rule 16a-9, Rule 16b-3

3 terms

restricted stock units technical

"vested MSGK restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Rule 16a-9 regulatory

"transaction exempt under Rule 16a-9"

Rule 16b-3 regulatory

"transaction exempt under Rules 16a-9 and 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Quentin F. Dolan receive in the MSGR distribution?

On October 26, 2026, Quentin F. Dolan received 220 MSGR Class A common shares in the distribution, plus 442 Class A shares for vested MSGK RSUs and 25 MSGR RSUs for unvested MSGK RSUs. Each MSGR RSU represents the right to one Class A share or cash equivalent; the 25 RSUs are scheduled to vest and settle on September 15, 2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/28/2026 - 04:35 PM EDT Accepted by SEC EDGAR 10/28/2026 - 04:35 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DOLAN QUENTIN F

(Last) (First) (Middle)

TWO PENN PLAZA

(Street)

NEW YORK NEW YORK 10121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MSG Rangers Corp. [ MSGR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & COO, NY Rangers

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/26/2026		J(1)	V	220(1)	A	(1)	220(1)	D
Class A Common Stock	10/26/2026		J(2)	V	442(2)	A	(2)	662	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(3)	10/26/2026		J(4)	V	25(4)		(5)	09/15/2027	Class A Common Stock	25(4)	$0	25(4)	D

Explanation of Responses:

1. Represents securities of MSG Rangers Corp. (formerly MSGS Spinco, Inc., and referred to herein as "MSGR") received in connection with the distribution by MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., and referred to herein as "MSGK") of outstanding common stock of MSGR to MSGK stockholders, effected on October 26, 2026 (the "Distribution"). In the Distribution, MSGK distributed one share of MSGR's Class A common stock ("Class A Common Stock") and one share of MSGR's Class B common stock to MSGK stockholders for every two shares of MSGK Class A common stock and MSGK Class B common stock, respectively, in a transaction exempt under Rule 16a-9.

2. Represents Class A Common Stock received by the Reporting Person in connection with the Distribution pursuant to vested MSGK restricted stock units ("RSUs"), in a transaction exempt under Rules 16a-9 and 16b-3. The shares of Class A Common Stock were granted pursuant to the MSGR 2026 Stock Plan for Non-Employee Directors. Reporting Person received one share of Class A Common Stock in respect of every two vested MSGK RSUs.

3. Each RSU is granted under the MSGR 2026 Employee Stock Plan and represents the right to receive one share of Class A Common Stock or the cash equivalent thereof.

4. Reflects the acquisition of RSUs in connection with the Distribution in a transaction exempt under Rules 16a-9, 16b-6 and 16b-3. Reporting Person received one MSGR RSU in respect of every two unvested MSGK RSUs.

5. Pursuant to the terms of Reporting Person's MSGK RSU award dated August 29, 2024, the RSUs are scheduled to vest and settle on September 15, 2027.

	/s/ Mark C. Cresitello, Attorney-in-Fact for Quentin F. Dolan	10/28/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)