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

Role: Director
Signature: /s/ Brittany A. Uthoff as Attorney-in-Fact for Larry E. Romrell
Stock symbol: LSXMA
Transactions as of: Jul 24, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/28/2023, 04:25 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	Stock Option (Right to Buy) - FWONK	2.7K	Jul 24, 2023	Series C Liberty Formula One Common Stock	2.7K	$29.62	Direct	F1
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	F1
holding	LSXMA	Stock Option (Right to Buy) - FWONK	4.22K	Jul 24, 2023	Series C Liberty Formula One Common Stock	4.22K	$34.72	Direct	F1
holding	LSXMA	Stock Option (Right to Buy) - FWONK	3.47K	Jul 24, 2023	Series C Liberty Formula One Common Stock	3.47K	$41.78	Direct	F1
holding	LSXMA	Stock Option (Right to Buy) - FWONK	3.93K	Jul 24, 2023	Series C Liberty Formula One Common Stock	3.93K	$43.51	Direct	F1
holding	LSXMA	Stock Option (Right to Buy) - FWONK	2.63K	Jul 24, 2023	Series C Liberty Formula One Common Stock	2.63K	$58.25	Direct	F1
holding	LSXMA	Stock Option (Right to Buy) - FWONK	2.49K	Jul 24, 2023	Series C Liberty Formula One Common Stock	2.49K	$60.27	Direct	F1

* 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.

Content

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.

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).