Malone shifts Atlanta Braves (BATRA) holdings in private trust share swap

Rhea-AI Filing Summary

Atlanta Braves Holdings, Inc. insider John C. Malone, a ten percent owner, rebalanced his holdings between share classes in a private, related-party exchange on February 25, 2026. He acquired 10,868 shares of Series B Common Stock from two trusts whose beneficiaries are his adult children. In return, he contributed an aggregate 14,614 shares of Series C Common Stock and $42.18 in cash to those trusts.

Following these transactions, Malone directly held 14,537 shares of Series B Common Stock and 2,662,534 shares of Series C Common Stock. He also reported additional indirect holdings of Series B and Series C shares through entities including JCM AB LLC, the John C. Malone June 2003 Charitable Remainder Unitrust, and the Leslie A. Malone 1995 Revocable Trust.

Insights

Insider transactions analyst

Malone shifted exposure between Braves share classes via a private family trust swap.

John C. Malone restructured his stake in Atlanta Braves Holdings by acquiring 10,868 Series B shares from two family trusts and contributing 14,614 Series C shares plus a small cash amount back to those trusts. This is described as a private transaction between related parties rather than an open-market trade.

The shift increases his direct ownership of the higher-vote Series B class while reducing his direct Series C position, though he continues to report substantial indirect holdings through multiple trusts and an LLC. Because the exchange occurs within his broader family-related holdings, it primarily reflects internal capital and governance planning rather than a clear market-facing signal.

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MALONE JOHN C

(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	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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 B Common Stock(1)	02/25/2026		P(2)		10,868	A	$58	14,537	D
Series C Common Stock	02/25/2026		S(2)		14,614	D	$43.13	2,662,534	D
Series B Common Stock(1)								887,079	I	JCM AB LLC
Series C Common Stock								142,836	I	John C. Malone June 2003 Charitable Remainder Unitrust
Series B Common Stock(1)								47,585	I	Leslie A. Malone 1995 Revocable Trust
Series C Common Stock								120,546	I	Leslie A. Malone 1995 Revocable Trust

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

Explanation of Responses:

1. Each share of Series B Common Stock is convertible, at the holder's election, into one share of Series A Common Stock, at any time for no consideration other than the surrender of the share of Series B Common Stock for each share of Series A Common Stock.

2. On February 25, 2026, the Reporting Person acquired 10,868 shares of the Issuer's Series B Common Stock in a private transaction from two trusts, the beneficiaries of which are his adult children. In exchange for these shares, the Reporting Person contributed to the trusts an aggregate of 14,614 shares of the Issuer's Series C Common Stock along with $42.18 in cash.

	/s/ Greg Heller, Attorney-in-Fact	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did John C. Malone do in this Atlanta Braves (BATRA) Form 4 filing?

John C. Malone rebalanced his stake by privately acquiring 10,868 Series B shares from two family trusts and contributing 14,614 Series C shares plus $42.18 in cash back to those trusts, according to the reported February 25, 2026 transactions.

How many Atlanta Braves Series B shares did Malone acquire in this transaction?

Malone acquired 10,868 shares of Atlanta Braves Series B Common Stock. These shares came from two trusts whose beneficiaries are his adult children, in a private exchange involving Series C shares and a small cash component, rather than through open-market purchases.

How many Atlanta Braves Series C shares did Malone transfer to the family trusts?

Malone contributed an aggregate 14,614 shares of Atlanta Braves Series C Common Stock to the two family trusts. In exchange, he received 10,868 Series B shares and paid $42.18 in cash, as described in the footnote to the insider transaction disclosure.

What are Malone’s direct Atlanta Braves share holdings after the reported transactions?

After the February 25, 2026 transactions, Malone directly held 14,537 shares of Atlanta Braves Series B Common Stock and 2,662,534 shares of Series C Common Stock. These post-transaction balances are explicitly listed in the insider filing’s ownership figures for each share class.

Does Malone report any indirect ownership of Atlanta Braves shares?

Yes. Malone reports indirect ownership of Series B and Series C shares through JCM AB LLC, the John C. Malone June 2003 Charitable Remainder Unitrust, and the Leslie A. Malone 1995 Revocable Trust, indicating additional holdings overseen via these entities beyond his directly held shares.

Was Malone’s Atlanta Braves share activity an open-market trade or a private exchange?

The filing describes a private transaction. Malone acquired Series B shares from two family trusts and, in return, contributed Series C shares and $42.18 in cash to those trusts, rather than buying or selling shares on the open market.