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Filing Details

Accession Number:: 0001209191-20-033068
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-05-29 19:44:57
Reporting Period:: 2020-05-27

Accepted Time:: 2020-05-29 19:44:57
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1560385	Liberty Media Corp	LSXMK	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
315090	E Warren Buffett	3555 Farnam Street Omaha NE 68131		No	No	Yes	No
1067983	Berkshire Hathaway Inc	3555 Farnam Street Omaha NE 68131		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-27	545,503	$36.15	33,413,438	No	4	P	Indirect	See footnotes
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-27	129,108	$36.43	33,542,546	No	4	P	Indirect	See footnotes
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-28	932,285	$36.30	34,474,831	No	4	P	Indirect	See footnotes
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-28	49,841	$36.74	34,524,672	No	4	P	Indirect	See footnotes
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-29	671,968	$35.82	35,196,640	No	4	P	Indirect	See footnotes
Series C Liberty Siriusxm Common Stock	Acquisiton	2020-05-29	45,475	$36.48	35,242,115	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Price - 2
Series C Liberty Siriusxm Common Stock	Series C Liberty SiriusXM Rights	Acquisiton	2020-05-27	315,000	$10.88	$0.00
Series C Liberty Siriusxm Common Stock	Series C Liberty SiriusXM Rights	Acquisiton	2020-05-28	786,765	$10.95	$0.00
Series C Liberty Siriusxm Common Stock	Series C Liberty SiriusXM Rights	Acquisiton	2020-05-28	47,000	$11.59	$0.00
Series C Liberty Siriusxm Common Stock	Series C Liberty SiriusXM Rights	Acquisiton	2020-05-29	512,196	$10.76	$0.00
Series C Liberty Siriusxm Common Stock	Series C Liberty SiriusXM Rights	Acquisiton	2020-05-29	45,768	$11.47	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
5,784,226	2020-05-18	2020-06-05	No	4	P	Indirect
6,570,991	2020-05-18	2020-06-05	No	4	P	Indirect
6,617,991	2020-05-18	2020-06-05	No	4	P	Indirect
7,130,187	2020-05-18	2020-06-05	No	4	P	Indirect
7,175,955	2020-05-18	2020-06-05	No	4	P	Indirect

Footnotes

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $35.30 to $36.29. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 1 to this Form 4.
24,082,818 of the total reported shares of Series C Liberty SiriusXM Common Stock are owned as of May 29, 2020 by the following subsidiaries of Berkshire: Government Employees Insurance Company (14,920,260), GEICO Advantage Insurance Company (630,000), GEICO Indemnity Company (3,809,650), National Fire & Marine Insurance Company (508,654), and National Indemnity Company (4,214,254). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all such shares presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, such shares presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
11,159,297 of the total reported shares of Series C Liberty SiriusXM Common Stock are owned as of May 29, 2020 by the following pension plans of Berkshire's subsidiaries: Berkshire Hathaway Consolidated Pension Plan (6,314,225), BNSF Master Retirement Trust (2,673,750), Precision Castparts Corp. Master Trust (1,871,322), Acme Brick Pension Trust (100,000), and Scott Fetzer Collective Investment Trust (200,000). Each of Berkshire, Mr. Buffett and these pension plans disclaims beneficial ownership in such shares.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $36.30 to $36.65. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 4 to this Form 4.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $35.61 to $36.60. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 5 to this Form 4.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $36.61 to $37.05. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 6 to this Form 4.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $35.47 to $36.41. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 7 to this Form 4.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $36.47 to $36.50. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 8 to this Form 4.
As described in Liberty's Form S-3ASR filed with the Securities and Exchange Commission on May 14, 2020, Liberty has distributed subscription rights to holders of its Series A and Series C Liberty SiriusXM Common Stock to acquire shares of its Series C Liberty SiriusXM Common Stock (the "Series C Liberty SiriusXM Rights"). In the rights offering, each Series C Liberty SiriusXM Right will entitle the holder to a basic subscription privilege and an oversubscription privilege. Under the basic subscription privilege, each whole Series C Liberty SiriusXM Right will entitle the holder to purchase one share of Liberty's Series C Liberty SiriusXM Common Stock at a subscription price of $25.47. Under the oversubscription
Continued from footnote 9: privilege, each rightsholder that exercises its basic subscription privilege will have the right to subscribe, at the subscription price, for up to that number of shares of Liberty's Series C Liberty SiriusXM Common Stock which are not purchased by other rightsholders under their basic subscription privilege.
As described in Liberty's Form S-3ASR filed with the Securities and Exchange Commission on May 14, 2020, the rights offering commenced on May 18, 2020 and expires on June 5, 2020. Liberty's board of directors may terminate the rights offering for any reason before the expiration time. Liberty may extend the expiration time of the rights offering for any reason and for any length of time beyond June 5, 2020, at the discretion of its board of directors. However, Liberty may not extend the expiration time of the rights offering for more than 25 trading days past the original fourteen trading day subscription period. All exercises of Series C Liberty SiriusXM Rights are irrevocable even if Liberty's board of directors determines to extend the expiration time.
The price reported in Column 8 is a weighted average price. These rights were purchased in multiple transactions at prices ranging from $10.59 to $11.13. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of rights purchased at each separate price within the range set forth in footnote 12 to this Form 4.
3,720,748 of the total reported Series C Liberty SiriusXM Rights are owned as of May 29, 2020 by the following subsidiaries of Berkshire: Government Employees Insurance Company (1,922,990), GEICO Advantage Insurance Company (83,806), GEICO Indemnity Company (542,750), National Fire & Marine Insurance Company (135,409), and National Indemnity Company (1,035,793). As Berkshire is in the chain of ownership of each of these subsidiaries, it may be deemed presently to both beneficially own and have a pecuniary interest in all such rights presently owned by each of these subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, such rights presently owned by each such subsidiary. Mr. Buffett disclaims beneficial ownership of the reported rights except to the extent of his pecuniary interest therein.
3,455,207 of the total reported Series C Liberty SiriusXM Rights are owned as of May 29, 2020 by the following pension plans of Berkshire's subsidiaries: Berkshire Hathaway Consolidated Pension Plan (2,817,180), BNSF Master Retirement Trust (325,000), and Precision Castparts Corp. Master Trust (313,027). Each of Berkshire, Mr. Buffett and these pension plans disclaims beneficial ownership in such rights.
The price reported in Column 8 is a weighted average price. These rights were purchased in multiple transactions at prices ranging from $10.43 to $11.42. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of rights purchased at each separate price within the range set forth in footnote 15 to this Form 4.
The price reported in Column 8 is a weighted average price. These rights were purchased in multiple transactions at prices ranging from $11.44 to $11.70. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of rights purchased at each separate price within the range set forth in footnote 16 to this Form 4.
The price reported in Column 8 is a weighted average price. These rights were purchased in multiple transactions at prices ranging from $10.31 to $11.30. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of rights purchased at each separate price within the range set forth in footnote 17 to this Form 4.
The price reported in Column 8 is a weighted average price. These rights were purchased in multiple transactions at prices ranging from $11.33 to $11.50. The Reporting Persons undertake to provide Liberty, any security holder of Liberty, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of rights purchased at each separate price within the range set forth in footnote 18 to this Form 4.