MSG Sports board approves Oct 26 spin-off of Rangers; MSGS to become MSG Knickerbockers, ticker MSGK

Madison Square Garden Sports Corp.

Board approved distribution of one MSGS Spinco share for every two Class A or Class B shares held; record date Oct 20, 2026, distribution effective 11:59 p.m. ET Oct 26, 2026.
Conditions: Form 10 effectiveness, NYSE listing, Contribution, NHL approval, tax opinion; agreements include Distribution, Contribution, Transition Services and Tax Disaffiliation.
Five directors resigned effective on the Distribution—Joseph M. Cohen, Stephen C. Mills, Alan D. Schwartz, Nelson Peltz and Marianne Dolan Weber—to join MSGS Spinco; board cut from 15 to 12.
Effective Distribution, Irving Azoff and Isiah L. Thomas III appointed to MSG Sports board; Compensation Committee: Azoff, Vincent Tese, Anthony J. Vinciquerra (Chair).
Jamaal T. Lesane named EVP & Chief Legal Officer effective Sep 28, 2026; base salary ≥$1M, target bonus ≥125% of salary, LTIP target ≥$1.5M, severance at least 2x salary+bonus.

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