Terence F. Mcguirk - Jul 18, 2023 Form 4 Insider Report for Atlanta Braves Holdings, Inc. (BATRK)

Role
Director
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for Terence F. McGuirk
Stock symbol
BATRK
Transactions as of
Jul 18, 2023
Transactions value $
$0
Form type
4
Date filed
7/20/2023, 05:08 PM
Next filing
Dec 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BATRK Series C Common Stock Other $0 +432K $0.00 432K Jul 18, 2023 Direct F1

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 Restricted Stock Units - BATRK Other +33.1K 33.1K Jul 18, 2023 Series C Common Stock 33.1K Direct F2, F3
transaction BATRK Stock Option (Right to Buy) - BATRK Other +381K 381K Jul 18, 2023 Series C Common Stock 381K $27.18 Direct F2, F4
* 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 In connection with the Redemption, all equity awards held by the 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 equity awards were granted, such that each Braves Award was exchanged for an option to purchase, or a restricted stock unit with respect to, 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.
F3 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Series C common stock.
F4 This option award vested 50% on December 10, 2022, and will vest 50% on December 10, 2023.