[Form 4] Liberty Media Corp Insider Trading Activity

Rhea-AI Filing Summary

Liberty Media Corporation director reports share redemption and option adjustments tied to a corporate restructuring. On December 15, 2025, the company redeemed each share of its Series A, Series B and Series C Liberty Live common stock in exchange for one share of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings, Inc. The filing shows 898 shares of Series C Liberty Live common stock disposed of at a stated price of $0.0000, leaving no shares beneficially owned afterward.

All stock option awards linked to Liberty Media’s Liberty Live common stock were adjusted under anti-dilution provisions so that each became an option to buy the same number of shares of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings. The board of directors approved these transactions and adjustments under Rule 16b-3 of the Securities Exchange Act of 1934.

Insider Trade Summary

8 transactions reported

Mixed 8 txns

Insider Wong Andrea L

Role Director

Type	Security	Shares	Price	Value
Other	Stock Option (Right to Buy) - LLYVK	103	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	542	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	570	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	109	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	576	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	1,563	$0.00	--
Other	Stock Option (Right to Buy) - LLYVK	1,435	$0.00	--
Other	Series C Liberty Live Common Stock	898	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) - LLYVK — 0 shares (Direct); Series C Liberty Live Common Stock — 0 shares (Direct)

Footnotes (1)

1. On December 15, 2025, Liberty Media Corporation (the "Issuer") redeemed (the "Redemption") each share of its Series A Liberty Live common stock, Series B Liberty Live common stock and Series C Liberty Live common stock for one share of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings, Inc. ("Liberty Live Holdings"). In connection with the Redemption, all option awards held by the reporting person with respect to the Issuer's Liberty Live common stock (each, a "Live Award") were adjusted pursuant to the anti-dilution provisions of the incentive plan under which the Live Awards were granted, such that each Live Award was exchanged for an option to purchase an equivalent number of shares of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings.

Form 4 Insider Transactions: What Each Field Means →

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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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^*

Wong Andrea L

(Last) (First) (Middle)

12300 LIBERTY BOULEVARD

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Liberty Media Corp [ FWONK ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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 Liberty Live Common Stock	12/15/2025		J(1)		898	D	$0.0000(1)	0.0000	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) - LLYVK	$28.89	12/15/2025		J(2)	V		103	12/06/2022	12/06/2028	Series C Liberty Live Common Stock	103	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$53.46	12/15/2025		J(2)	V		542	12/06/2022	12/06/2028	Series C Liberty Live Common Stock	542	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$72.91	12/15/2025		J(2)	V		570	12/06/2025	12/06/2031	Series C Liberty Live Common Stock	570	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$27.92	12/15/2025		J(2)	V		109	12/08/2023	12/08/2029	Series C Liberty Live Common Stock	109	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$33.97	12/15/2025		J(2)	V		576	12/08/2024	12/08/2030	Series C Liberty Live Common Stock	576	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$50.88	12/15/2025		J(2)	V		1,563	12/09/2020	12/09/2026	Series C Liberty Live Common Stock	1,563	$0.0000(2)	0.0000	D
Stock Option (Right to Buy) - LLYVK	$45.33	12/15/2025		J(2)	V		1,435	12/10/2021	12/10/2027	Series C Liberty Live Common Stock	1,435	$0.0000(2)	0.0000	D

Explanation of Responses:

1. On December 15, 2025, Liberty Media Corporation (the "Issuer") redeemed (the "Redemption") each share of its Series A Liberty Live common stock, Series B Liberty Live common stock and Series C Liberty Live common stock for one share of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings, Inc. ("Liberty Live Holdings").

2. In connection with the Redemption, all option awards held by the reporting person with respect to the Issuer's Liberty Live common stock (each, a "Live Award") were adjusted pursuant to the anti-dilution provisions of the incentive plan under which the Live Awards were granted, such that each Live Award was exchanged for an option to purchase an equivalent number of shares of the corresponding series of Liberty Live Group common stock of Liberty Live Holdings.

Remarks:

The transactions and adjustments described above were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.

	/s/ Brittany A. Uthoff as Attorney-in-Fact for Andrea L. Wong	12/17/2025
	** Signature of Reporting Person	Date
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