[Form 4] Atlanta Braves Holdings, Inc. Series C Insider Trading Activity

Rhea-AI Filing Summary

Jill L. Robinson, EVP, CFO & Treasurer of Atlanta Braves Holdings, Inc. (BATRK), reported transactions dated 08/15/2025. She exercised a stock option to acquire 40,000 Series C shares at an exercise price of $27.18, which increased her reported beneficial ownership to 108,755 shares. On the same date she sold 40,000 Series C shares under a Rule 10b5-1 sales plan adopted May 15, 2025, at a weighted average sale price of $43.82 (range $43.68 to $44.12), leaving 68,755 Series C shares beneficially owned after the sale. The Form 4 was signed by an attorney-in-fact on 08/19/2025.

Positive

• Transactions were executed under a Rule 10b5-1 plan, adopted May 15, 2025, indicating prearranged compliance with insider trading rules.
• Option exercise and sale details are fully disclosed, including exercise price ($27.18), weighted average sale price ($43.82) and sale price range ($43.68–$44.12).

Negative

• Net direct beneficial ownership declined to 68,755 Series C shares after the reported sale on 08/15/2025.
• Large insider sale of 40,000 shares might be viewed as a reduction in the reporting person’s position (document contains no statement of purpose beyond the 10b5-1 plan).

Insights

Securities Analyst

TL;DR: Officer exercised options then sold an equal number of shares under a pre-established 10b5-1 plan; net direct holdings declined.

The filing shows a simultaneous option exercise and a planned sale of 40,000 Series C shares on 08/15/2025. Exercising at $27.18 and selling at a weighted average of $43.82 realized a spread but left the reporting person with fewer directly owned shares (68,755 after the sale). The sale was executed pursuant to a 10b5-1 plan adopted May 15, 2025, which indicates the transactions were prearranged and intended to provide the affirmative defense under Rule 10b5-1. The reporting structure and dates are clearly disclosed; no additional financial results or forward-looking statements are present.

Corporate Governance Expert

TL;DR: Governance process followed: disclosure complete and sale executed under a formal 10b5-1 plan.

The Form 4 discloses material insider activity by a senior officer and identifies the use of a Rule 10b5-1 plan adopted May 15, 2025. The filing includes required details: transaction dates, prices, exercised option terms (exercise price $27.18; option exercisable 12/10/2023, expiring 12/10/2027), and the weighted average sale price with price range. The filing appears procedurally compliant and signed by an attorney-in-fact on 08/19/2025. There is no indication in the document of any undisclosed related-party arrangements or deviations from required reporting elements.

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
Estimated average burden
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).

X

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^*

Robinson Jill L.

(Last) (First) (Middle)

C/O ATLANTA BRAVES HOLDINGS, INC.

755 BATTERY AVENUE SE

(Street)

ATLANTA GA 30339

(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)
	EVP, CFO & Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		40,000	A	$27.18	108,755	D
Series C Common Stock	08/15/2025		S(1)		40,000	D	$43.82(2)	68,755	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	$27.18	08/15/2025		M			40,000	12/10/2023	12/10/2027	Series C Common Stock	40,000	$0	150,263	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 sales plan adopted by the reporting person on May 15, 2025.

2. Reflects the weighted average sale price. The range of prices for such transaction is $43.68 to $44.12. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price will be provided.

	/s/ Kerry T. Wenzel, Attorney-in-Fact	08/19/2025
	** 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 transactions did Jill L. Robinson report for BATRK on 08/15/2025?

She exercised 40,000 Series C shares at $27.18 and sold 40,000 Series C shares under a 10b5-1 plan at a weighted average price of $43.82.

How many Series C shares did Jill L. Robinson own after the transactions?

She beneficially owned 68,755 Series C shares after the sale reported on 08/15/2025.

Was the sale part of a prearranged trading plan for BATRK insider filings?

Yes. The sales were effected pursuant to a Rule 10b5-1 sales plan adopted May 15, 2025, as stated in the Form 4.

What prices were involved in the reported transactions?

Exercise price: $27.18 per share; weighted average sale price: $43.82 per share; sale price range: $43.68 to $44.12.

Who signed the Form 4 filing for these transactions?

The Form 4 was signed by an attorney-in-fact, Kerry T. Wenzel, on 08/19/2025.