MSGS Spinco shares distributed at 1-for-2 ratio

Q: How many MSGR shares did Charles F. Dolan Children Trust FBO Thomas C. Dolan receive directly?

The trust reported direct receipt of 6,647 Class A shares and 154,493 Class B shares on October 26, 2026, in the distribution by MSG Knickerbockers Corp.

Q: Can MSGR Class B common stock convert to Class A?

Yes. Class B Common Stock is convertible at the holder’s option on a share-for-share basis into Class A Common Stock.

The reported share movements distinguish the trust’s direct distribution receipts from holdings attributed to MSG Knickerbockers Corp. and its subsidiaries.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

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Form Type

Rhea-AI Filing Summary

MSGS Spinco, Inc. (MSGR) recapitalized its issued and outstanding common stock into Class A and Class B common stock on October 20, 2026. On October 26, MSG Knickerbockers Corp. (MSGK) distributed one share of each MSGR class for every two shares of the corresponding MSGK class.

Charles F. Dolan Children Trust FBO Thomas C. Dolan, identified as a member of the 13(d) Group (MSGK), reported direct receipt of 6,647 Class A shares and 154,493 Class B shares. Separate indirect entries attributed to MSGK and its subsidiaries record acquisition on October 20 and disposition on October 26 of 9,794,568 Class A shares and 2,264,754 Class B shares. Class B stock is convertible at the holder’s option, share for share, into Class A.

Insider Trade Summary

Other: 24,279,884 shares

Other 7 txns

Insider CHARLES F. DOLAN CHILDREN TRUST FBO THOMAS C. DOLAN

Role Insider

Type	Security	Shares	Price	Value
Other	Class B Common Stock ^{F1, F4}	2,264,754	--	--
Other	Class B Common Stock ^{F5, F4, F3}	154,493	--	--
Other	Class A Common Stock ^F1	9,794,568	--	--
Other	Class A Common Stock ^{F2, F3}	6,647	--	--
Other	Class B Common Stock ^{F1, F4}	2,264,754	--	--
Other	Common Stock, par value $0.01 per share ^F1	100	--	--
Other	Class A Common Stock ^F1	9,794,568	--	--

Holdings After Transaction: Class B Common Stock — 0 contracts (Indirect, By MSG Knickerbockers Corp. and its subsidiaries); Class B Common Stock — 154,493 contracts (Direct); Common Stock, par value $0.01 per share — 0 shares (Indirect, By MSG Knickerbockers Corp. and its subsidiaries); Class A Common Stock — 0 shares (Indirect, By MSG Knickerbockers Corp. and its subsidiaries); Class A Common Stock — 6,647 shares (Direct)

Footnotes (5)

F1. Relates to the spin-off of MSG Rangers Corp. (formerly MSGS Spinco, Inc., and referred to herein as "MSGR") from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., and referred to herein as "MSGK"). To effect the spin-off, on October 20, 2026, the issued and outstanding common stock of MSGR was recapitalized into MSGR's Class A common stock ("Class A Common Stock") and MSGR's Class B common stock ("Class B Common Stock") in a transaction exempt under Rule 16b-7. On October 26, 2026, MSGK distributed one share of Class A Common Stock and Class B Common Stock to its stockholders for every two shares of MSGK Class A common stock and MSGK Class B common stock, respectively (the "Distribution"), in a transaction exempt under Rule 16a-9.
F2. Represents Class A Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.
F3. Reflects a transfer of shares previously owned directly by MSGK and its subsidiaries exempt under Rule 16a-13.
F4. Class B Common Stock is convertible at the option of the holder on a share for share basis into Class A Common Stock.
F5. Represents Class B Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.

Key Figures

Distribution ratio: 1 share of each MSGR class for every 2 shares of the corresponding MSGK class Direct Class A shares received: 6,647 shares Direct Class B shares received: 154,493 shares +2 more

5 metrics

Distribution ratio 1 share of each MSGR class for every 2 shares of the corresponding MSGK class Distribution on October 26, 2026

Direct Class A shares received 6,647 shares Reported by Charles F. Dolan Children Trust FBO Thomas C. Dolan on October 26, 2026

Direct Class B shares received 154,493 shares Reported by Charles F. Dolan Children Trust FBO Thomas C. Dolan on October 26, 2026

Indirect Class A transaction amount 9,794,568 shares Acquired on October 20 and disposed on October 26, 2026; attributed to MSGK and its subsidiaries

Indirect Class B transaction amount 2,264,754 shares Acquired on October 20 and disposed on October 26, 2026; attributed to MSGK and its subsidiaries

Key Terms

spin-off, recapitalized, share for share basis, Rule 16a-9

4 terms

spin-off financial

"Relates to the spin-off of MSG Rangers Corp."

A spin-off happens when a company creates a new, independent business by separating part of itself, like splitting off a division into its own company. This often happens so the new company can focus better on its own goals or attract different investors. It matters because it can lead to more growth opportunities and clearer focus for both companies.

recapitalized financial

"the issued and outstanding common stock of MSGR was recapitalized"

Rule 16a-9 regulatory

"in a transaction exempt under Rule 16a-9"

FAQ

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

How many MSGR shares did Charles F. Dolan Children Trust FBO Thomas C. Dolan receive directly?

The trust reported direct receipt of 6,647 Class A shares and 154,493 Class B shares on October 26, 2026, in the distribution by MSG Knickerbockers Corp.

Can MSGR Class B common stock convert to Class A?

Yes. Class B Common Stock is convertible at the holder’s option on a share-for-share basis into Class A Common Stock.

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

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^*

CHARLES F. DOLAN CHILDREN TRUST FBO THOMAS C. DOLAN

(Last)

(First)

(Middle)

C/O DOLAN FAMILY OFFICE

340 CROSSWAYS PARK DRIVE

(Street)

WOODBURY

NEW YORK

11797

(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
Officer (give title below)	X	Other (specify below)
		Member of 13(d) Group (MSGK)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01 per share	10/20/2026		J⁽¹⁾	V	100⁽¹⁾	D	⁽¹⁾	0⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/20/2026		J⁽¹⁾	V	9,794,568⁽¹⁾	A	⁽¹⁾	9,794,568⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/26/2026		J⁽¹⁾		9,794,568⁽¹⁾	D	⁽¹⁾	0⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class A Common Stock	10/26/2026		J⁽²⁾	V	6,647⁽²⁾	A	⁽²⁾	6,647⁽³⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	⁽¹⁾	10/20/2026		J⁽¹⁾	V	2,264,754⁽¹⁾		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	2,264,754	⁽¹⁾	2,264,754⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class B Common Stock	⁽¹⁾	10/26/2026		J⁽¹⁾			2,264,754⁽¹⁾	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	2,264,754	⁽¹⁾	0⁽¹⁾	I	By MSG Knickerbockers Corp. and its subsidiaries
Class B Common Stock	⁽⁵⁾	10/26/2026		J⁽⁵⁾	V	154,493⁽⁵⁾		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	154,493⁽⁵⁾	⁽⁵⁾	154,493⁽³⁾	D

Explanation of Responses:

1. Relates to the spin-off of MSG Rangers Corp. (formerly MSGS Spinco, Inc., and referred to herein as "MSGR") from MSG Knickerbockers Corp. (formerly Madison Square Garden Sports Corp., and referred to herein as "MSGK"). To effect the spin-off, on October 20, 2026, the issued and outstanding common stock of MSGR was recapitalized into MSGR's Class A common stock ("Class A Common Stock") and MSGR's Class B common stock ("Class B Common Stock") in a transaction exempt under Rule 16b-7. On October 26, 2026, MSGK distributed one share of Class A Common Stock and Class B Common Stock to its stockholders for every two shares of MSGK Class A common stock and MSGK Class B common stock, respectively (the "Distribution"), in a transaction exempt under Rule 16a-9.

2. Represents Class A Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.

3. Reflects a transfer of shares previously owned directly by MSGK and its subsidiaries exempt under Rule 16a-13.

4. Class B Common Stock is convertible at the option of the holder on a share for share basis into Class A Common Stock.

5. Represents Class B Common Stock received in connection with the Distribution in a transaction exempt under Rule 16a-9.

	Charles F. Dolan Children Trust FBO Thomas C. Dolan By: /s/ Brian G. Sweeney, Attorney-in-Fact	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)

Source: View Original Filing on SEC EDGAR