Larry E. Romrell - Jul 18, 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 18, 2023
Transactions value $
$0
Form type
4
Date filed
7/20/2023, 05:11 PM
Previous filing
Jun 16, 2023
Next filing
Jul 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LSXMA Series A Liberty Braves Common Stock Other $0 -1.99K -100% $0.00* 0 Jul 18, 2023 Direct F1
transaction LSXMA Series B Liberty Braves Common Stock Other $0 -21 -100% $0.00* 0 Jul 18, 2023 Direct F1, F2
transaction LSXMA Series C Liberty Braves Common Stock Other $0 -3.95K -100% $0.00* 0 Jul 18, 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 -888 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 888 $25.46 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -596 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 596 $27.89 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -630 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 630 $32.76 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -980 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 980 $28.72 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -793 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 793 $26.36 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -1.41K -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 1.41K $20.13 Direct F3
transaction LSXMA Stock Option (Right to Buy) - BATRK Other -932 -100% 0 Jul 18, 2023 Series C Liberty Braves Common Stock 932 $22.56 Direct 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 Each share of Series B Liberty Braves common stock is convertible, at the holder's election, into one share of Series A Liberty Braves common stock, at any time for no consideration other than the surrender of the share of Series B Liberty Braves common stockfor each share of Series A Liberty Braves common stock.
F3 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.