Liberty Media chairman gets 600,000 Series A options
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Form Type
4
Rhea-AI Filing Summary
Liberty Media Corp (FWONA) reported that its Chairman of the Board, Robert R. Bennett, received options to purchase 600,000 Series A shares at an exercise price of $102.83 per share and 60,000 Series C shares at $108.01 per share on November 9, 2026. Each award vests 20% on the grant date and an additional 20% on each of the first four anniversaries; both expire November 9, 2033.
Bennett’s 400,000 Series B options, with an $85.09 exercise price, vested in full and were cancelled on November 9, 2026, in connection with the closing of an exchange. The cancellation was in exchange for a cash payment of $17.74 per underlying share, less applicable tax withholding; the amount represents the excess of the share’s fair market value over the options’ exercise price.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
BENNETT ROBERT R
Role
Chairman of the Board
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) - FWONA F1, F2 | 600,000 | $0.00 | $0.00 |
| Disposition | Stock Option (Right to Buy) - FWONB F3, F4 | 400,000 | -- | -- |
| Grant/Award | Stock Option (Right to Buy) - FWONK F5, F2 | 60,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) - FWONA — 600,000 options (Direct);
Stock Option (Right to Buy) - FWONB — 0 options (Direct);
Stock Option (Right to Buy) - FWONK — 60,000 options (Direct)
Holdings Before and After:
Stock Option (Right to Buy) - FWONA, 0 to 600,000 options (Direct);
Stock Option (Right to Buy) - FWONB, 400,000 to 0 options (Direct);
Stock Option (Right to Buy) - FWONK, 0 to 60,000 options (Direct)
Footnotes (5)
- F1. Represents options to purchase shares of the Issuer's Series A Common Stock granted pursuant to the Settlement Agreement (as defined in Footnote 3).
- F2. The options vested as to 20% on the grant date and vest as to an additional 20% on each of the first four anniversaries thereof.
- F3. Reflects the disposition of options to purchase shares of the Issuer's Series B Common Stock ("FWONB"), pursuant to the Stock Option Award and Settlement Agreement, dated as of November 4, 2026, between the Reporting Person and the Issuer (the "Settlement Agreement"), in connection with the closing of the exchange contemplated by the Exchange Agreement, dated as of November 4, 2026, among the Issuer and the persons named therein (the "Closing"). Following the Closing, pursuant to the Settlement Agreement, on November 9, 2026, the options vested in full and were cancelled in exchange for a cash payment of $17.74 per share underlying the options, less applicable tax withholding, representing the excess of the fair market value of a share of FWONB on November 9, 2026 over the exercise price of the options.
- F4. On May 12, 2026, the Issuer reincorporated from a corporation incorporated under the laws of the State of Delaware to a corporation incorporated under the laws of the State of Nevada by means of a plan of conversion. At the effective time of the conversion, any option to purchase shares of the Issuer's Series B Liberty Formula One Common Stock of the Delaware Corporation automatically converted into a corresponding award with respect to the same number of shares of Series B Common Stock of the Nevada Corporation with the same terms. The conversion did not alter the proportionate interests of security holders.
- F5. Represents options to purchase shares of the Issuer's Series C Common Stock granted pursuant to the Settlement Agreement.
Key Figures
Series A options granted: 600,000 options
Series A exercise price: $102.83 per share
Series C options granted: 60,000 options
+5 more
8 metrics
Series A options granted
600,000 options
Options to purchase Series A Common Stock
Series A exercise price
$102.83 per share
Exercise price for the options granted November 9, 2026
Series C options granted
60,000 options
Options to purchase Series C Common Stock
Series C exercise price
$108.01 per share
Exercise price for the options granted November 9, 2026
Series B options cancelled
400,000 options
Options vested in full and were cancelled in connection with the closing of an exchange
Series B exercise price
$85.09 per share
Exercise price for the cancelled options
Cash payment per underlying share
$17.74 per share
Payment for cancellation of Series B options, less applicable tax withholding
Vesting schedule
20%
On the grant date and an additional 20% on each of the first four anniversaries
Key Terms
vesting, exercise price, fair market value, Rule 16b-3, +1 more
5 terms
vesting financial
"The options vested as to 20% on the grant date"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
exercise price financial
"over the exercise price of the options"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
fair market value financial
"the fair market value of a share of FWONB"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
Rule 16b-3 regulatory
"pursuant to Rule 16b-3 under the Securities Exchange Act"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
Settlement Agreement technical
"granted pursuant to the Settlement Agreement"
A settlement agreement is a legally binding deal where two sides resolve a dispute—often a lawsuit—by agreeing on terms such as payments, actions, or changes in behavior instead of continuing the case to trial. For investors it matters because settlements can create immediate costs, limit future liabilities or risks, and change a company's cash flow, reputation, or ongoing obligations much like paying a negotiated bill to avoid a lengthy, uncertain fight.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What options did Robert R. Bennett receive at Liberty Media (FWONA)?
Robert R. Bennett, Liberty Media’s Chairman of the Board, received options covering 600,000 Series A shares at $102.83 per share and 60,000 Series C shares at $108.01 per share on November 9, 2026. Each grant vests 20% on the grant date and an additional 20% on each of the first four anniversaries.
What happened to Robert R. Bennett’s 400,000 Series B options at Liberty Media (FWONA)?
The 400,000 Series B options vested in full and were cancelled on November 9, 2026, in connection with the closing of the exchange under the Settlement Agreement. The cancellation was in exchange for a cash payment of $17.74 per underlying share, less applicable tax withholding; the payment represents the excess of fair market value over the options’ exercise price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
