Brian Deevy - Jul 24, 2023 Form 4 Insider Report for Liberty Media Corp (LSXMA)

Role: Director
Signature: /s/ Brittany A. Uthoff as Attorney-in-Fact for Brian Deevy
Stock symbol: LSXMA
Transactions as of: Jul 24, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/28/2023, 04:18 PM
Previous filing: Jul 20, 2023
Next filing: Aug 16, 2023

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

Type	Sym	Class	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	LSXMA	Restricted Stock Units-FWONK	526	Jul 24, 2023	Series C Liberty Formula One Common Stock	526		Direct	F1, F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	3.99K	Jul 24, 2023	Series C Liberty Formula One Common Stock	3.99K	$29.69	Direct	F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	2.11K	Jul 24, 2023	Series C Liberty Formula One Common Stock	2.11K	$34.72	Direct	F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	1.74K	Jul 24, 2023	Series C Liberty Formula One Common Stock	1.74K	$41.78	Direct	F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	1.97K	Jul 24, 2023	Series C Liberty Formula One Common Stock	1.97K	$43.51	Direct	F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	1.32K	Jul 24, 2023	Series C Liberty Formula One Common Stock	1.32K	$58.25	Direct	F2
holding	LSXMA	Stock Option (Right to Buy) - FWONK	1.25K	Jul 24, 2023	Series C Liberty Formula One Common Stock	1.25K	$60.27	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of Series C Liberty Formula One common stock.
F2	In connection with the Formula One Distribution (as described in the Remarks section), each outstanding equity award held by the reporting person with respect to the Issuer's Liberty Formula One common stock (each, an "equity award") was adjusted pursuant to the applicable equity award agreement, resulting in an adjustment to the number of shares relating to each equity award and, with respect to option awards, the option's exercise price. The adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended. The reporting person is voluntarily filing this Form 4 for the purpose of reporting the adjustments described above. This Form 4 does not report any new transactions.

Content

Each restricted stock unit represents a contingent right to receive one share of Series C Liberty Formula One common stock.

In connection with the Formula One Distribution (as described in the Remarks section), each outstanding equity award held by the reporting person with respect to the Issuer's Liberty Formula One common stock (each, an "equity award") was adjusted pursuant to the applicable equity award agreement, resulting in an adjustment to the number of shares relating to each equity award and, with respect to option awards, the option's exercise price. The adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended. The reporting person is voluntarily filing this Form 4 for the purpose of reporting the adjustments described above. This Form 4 does not report any new transactions.

Remarks:

On July 19, 2023, following the effectiveness of the split-off of Atlanta Braves Holdings, Inc. ("Atlanta Braves Holdings") from the Issuer, the Issuer distributed on a pro rata basis 6,792,903 shares of Atlanta Braves Holdings' Series C common stock to holders of the Issuer'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 the Issuer's Braves Group attributed to the Issuer's Formula One Group (the "Formula One Distribution"), as described in the Registration Statement on Form S-4 filed by the Issuer with the Securities and Exchange Commission (File No. 333-268921).