Atlanta Braves Form 4 Atlanta Braves / Renee L Wilm ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Wilm Renee L

(Last) (First) (Middle)

12300 LIBERTY BOULEVARD

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Atlanta Braves Holdings, Inc. [ BATRK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Legal/Admin Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/18/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series C Common Stock	07/18/2023		J(1)		5,507	A	$0(1)	5,507	D
Series C Common Stock	07/19/2023		J(2)	V	328(1)	A	$0(2)	5,835	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy) - BATRK(3)	$27.73	07/18/2023		J(3)	V	34,709		(4)	11/13/2026	Series C Common Stock	34,709	(3)	34,709	D
Stock Option (Right to Buy) - BATRK(3)	$26.36	07/18/2023		J(3)	V	6,639		(5)	12/10/2027	Series C Common Stock	6,639	(3)	6,639	D

Explanation of Responses:

1. On July 18, 2023, Liberty Media Corporation ("Liberty Media") redeemed (the "Redemption") each share of its Liberty Braves common stock for shares of common stock of Atlanta Braves Holdings, Inc. (the "Issuer"). In the Redemption, Liberty Media redeemed (i) each outstanding share of its Series A Liberty Braves common stock for one share of the Issuer's Series A common stock, (ii) each outstanding share of its Series B Liberty Braves common stock for one share of the Issuer's Series B common stock and (iii) each outstanding share of its Series C Liberty Braves common stock for one share of the Issuer's Series C common stock.

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

3. In connection with the Redemption, all option awards held by reporting person with respect to Liberty Media'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 the Issuer's 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.

4. This option award vested 50% on September 23, 2022 and will vest 50% on September 23, 2023.

5. This option award vested 50% on December 10, 2022 and will vest 50% on December 10, 2023.

	/s/ Brittany A. Uthoff as Attorney-in-Fact for Renee L. Wilm	07/20/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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