Derek Chang - 09 Sep 2024 Form 4 Insider Report for Liberty Media Corp (FWONA)

Role
Director
Signature
/s/ Katherine C. Jewell as Attorney-in-Fact for Derek Chang
Issuer symbol
FWONA
Transactions as of
09 Sep 2024
Net transactions value
$0
Form type
4
Filing time
11 Sep 2024, 14:35:53 UTC
Previous filing
26 Aug 2024
Next filing
10 Dec 2024
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 SiriusXM Common Stock Other $0 -3,602 -100% $0.000000 0 09 Sep 2024 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) - LSXMK Other $0 -2,170 -100% $0.000000 0 09 Sep 2024 Series C Liberty SiriusXM Common Stock 2,170 $34.95 Direct F2
transaction LSXMA Stock Option (Right to Buy) - LSXMK Other $0 -2,325 -100% $0.000000 0 09 Sep 2024 Series C Liberty SiriusXM Common Stock 2,325 $29.32 Direct F2
transaction LSXMA Stock Option (Right to Buy) - LSXMK Other $0 -2,155 -100% $0.000000 0 09 Sep 2024 Series C Liberty SiriusXM Common Stock 2,155 $31.89 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 9, 2024, Liberty Media Corporation (the "Issuer") redeemed (the "Redemption") each share of its Series A Liberty SiriusXM common stock, Series B Liberty SiriusXM common stock and Series C Liberty SiriusXM common stock for 0.8375 of a share of common stock of Sirius XM Holdings Inc. (formerly known as Liberty Sirius XM Holdings Inc., "Sirius XM Holdings") (such exchange ratio, the "Exchange Ratio"), with cash (without interest) paid in lieu of any fractional shares of common stock of Sirius XM Holdings, after aggregating all shares of common stock of Sirius XM Holdings issuable by series of Liberty SiriusXM common stock.
F2 In connection with the Redemption, all stock options held by the Reporting Person in the Issuer's Liberty SiriusXM common stock (each, a "Liberty SiriusXM Option") were adjusted pursuant to the anti-dilution provisions of the incentive plan under which the Liberty SiriusXM Options were granted, such that each Liberty SiriusXM Option was exchanged for an option to purchase the relevant number of shares of common stock of Sirius XM Holdings equal to the product of (i) the Exchange Ratio multiplied by (ii) the number of shares of Liberty SiriusXM common stock subject to the Liberty SiriusXM Option immediately prior to the effective time of the Redemption, rounded down to the nearest whole share, and the per share exercise price for such options equal to the quotient of (x) the exercise price per share of the Liberty SiriusXM Option immediately prior to the effective time of the Redemption divided by (y) the Exchange Ratio, with the result rounded up to the nearest whole cent.

Remarks:

The transactions and adjustments described above were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.