Renee L. Wilm - Jul 18, 2023 Form 4 Insider Report for Atlanta Braves Holdings, Inc. (BATRK)

Role
Chief Legal/Admin Officer
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for Renee L. Wilm
Stock symbol
BATRK
Transactions as of
Jul 18, 2023
Transactions value $
$0
Form type
4
Date filed
7/20/2023, 05:08 PM
Previous filing
Jul 17, 2023
Next filing
Jul 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BATRK Series C Common Stock Other $0 +5.51K $0.00 5.51K Jul 18, 2023 Direct F1
transaction BATRK Series C Common Stock Other $0 +328 +5.96% $0.00 5.84K Jul 19, 2023 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BATRK Stock Option (Right to Buy) - BATRK Other +34.7K 34.7K Jul 18, 2023 Series C Common Stock 34.7K $27.73 Direct F3, F4
transaction BATRK Stock Option (Right to Buy) - BATRK Other +6.64K 6.64K Jul 18, 2023 Series C Common Stock 6.64K $26.36 Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 18, 2023, Liberty Media Corporation ("Liberty Media") redeemed (the "Redemption") each share of its Liberty Braves common stock for shares of common stock of Atlanta Braves Holdings, Inc. (the "Issuer"). In the Redemption, Liberty Media redeemed (i) each outstanding share of its Series A Liberty Braves common stock for one share of the Issuer's Series A common stock, (ii) each outstanding share of its Series B Liberty Braves common stock for one share of the Issuer's Series B common stock and (iii) each outstanding share of its Series C Liberty Braves common stock for one share of the Issuer's Series C common stock.
F2 On July 19, 2023, following the Redemption, Liberty Media distributed on a pro rata basis 6,792,903 shares of the Issuer's Series C common stock to holders of Liberty Media's Series A Liberty Formula One common stock, Series B Liberty Formula One common stock and Series C Liberty Formula One common stock following the settlement and extinguishment of an intergroup interest in Liberty Media's Braves Group attributed to Liberty Media's Formula One Group, as described in the Registration Statement on Form S-4 filed by Liberty Media with the Securities and Exchange Commission (File No. 333-268921).
F3 In connection with the Redemption, all option awards held by reporting person with respect to Liberty Media's Liberty Braves common stock (each, a "Braves Award") were adjusted pursuant to the anti-dilution provisions of the incentive plan under which the option awards were granted, such that each Braves Award was exchanged for an option to purchase an equivalent number of shares of the corresponding series of the Issuer's common stock. These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.
F4 This option award vested 50% on September 23, 2022 and will vest 50% on September 23, 2023.
F5 This option award vested 50% on December 10, 2022 and will vest 50% on December 10, 2023.