Albert E. Rosenthaler - Jul 24, 2023 Form 4 Insider Report for Liberty Media Corp (LSXMA)

Role
Chief Corp. Dev. Officer
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for Albert E. Rosenthaler
Stock symbol
LSXMA
Transactions as of
Jul 24, 2023
Transactions value $
$0
Form type
4
Date filed
7/28/2023, 04:21 PM
Previous filing
Jul 20, 2023
Next filing
Aug 16, 2023

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
holding LSXMA Stock Option (Right to Buy) - FWONK 53.9K Jul 24, 2023 Series C Liberty Formula One Common Stock 53.9K $41.78 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the Formula One Distribution (as described in the Remarks section), each outstanding option award held by the reporting person with respect to the Issuer's Liberty Formula One common stock (each, an "option award") was adjusted pursuant to the applicable option award agreement, resulting in an adjustment to the exercise price and number of shares relating to each applicable option. 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.
F2 This option award vested 50% on December 10, 2022, and will vest 50% on December 10, 2023.

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).