Brian J. Wendling - 18 Jul 2023 Form 4 Insider Report for Liberty Media Corp (LSXMA)

Role
CAO/PFO
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for Brian J. Wendling
Issuer symbol
LSXMA
Transactions as of
18 Jul 2023
Transactions value $
$0
Form type
4
Filing time
20 Jul 2023, 17:12:56 UTC
Previous filing
17 Jul 2023
Next filing
28 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LSXMA Series C Liberty Braves Common Stock Other $0 -15.8K -100% $0.00* 0 18 Jul 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 LSXMA Stock Option (Right to Buy) - BATRK Other -13.6K -100% 0 18 Jul 2023 Series C Liberty Braves Common Stock 13.6K $26.36 Direct F2, F3
* 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 (the "Issuer") redeemed (the "Redemption") each share of its Liberty Braves common stock for shares of common stock of Atlanta Braves Holdings, Inc. ("Atlanta Braves Holdings"). In the Redemption, the Issuer redeemed (i) each outstanding share of its Series A Liberty Braves common stock for one share of Atlanta Braves Holdings' Series A common stock, (ii) each outstanding share of its Series B Liberty Braves common stock for one share of Atlanta Braves Holdings' Series B common stock and (iii) each outstanding share of its Series C Liberty Braves common stock for one share of Atlanta Braves Holdings' Series C common stock. Such transactions were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.
F2 In connection with the Redemption, all option awards held by the reporting person with respect to Issuer'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 Atlanta Braves Holdings' 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 This option award vested 50% on December 10, 2022, and will vest 50% on December 10, 2023.