MALONE JOHN C 4

What Happened

• John C. Malone, reported as a 10% owner of Atlanta Braves Holdings, acquired 10,868 shares of the issuer's Series B Common Stock on February 25, 2026, at $58.00 per share for a total of $630,344 (transaction code P). On the same date he disposed of 14,614 shares of Series C Common Stock at $43.13 per share for $630,302 (transaction code S).
• The transactions were part of a private exchange with two trusts (beneficiaries: his adult children): Malone received Series B shares in exchange for contributing 14,614 Series C shares plus $42.18 in cash. The net economic effect was effectively a swap of share classes.

Key Details

• Dates and prices: 2026-02-25 — Bought 10,868 Series B @ $58.00 ($630,344); Sold 14,614 Series C @ $43.13 ($630,302).
• Transaction codes: P = Purchase (Series B); S = Sale/Disposition (Series C).
• Footnotes: Series B shares are convertible, at holder election, 1-for-1 into Series A shares for no additional consideration. The Series B purchase came from two trusts whose beneficiaries are Malone’s adult children (private transaction).
• Shares owned after transaction: Not specified in the provided excerpt of the Form 4.
• Filing timeliness: Report filed Feb 27, 2026 for a Feb 25, 2026 transaction — appears timely (no late filing indicated).

Context

• This was a private, intra-family/estate-planning style exchange of share classes rather than a market-driven buy for cash; such swaps can reflect ownership/structuring decisions rather than a direct bullish or bearish signal.
• As a 10% owner (not an executive trade), the transaction is institutional/ownership-related. Series B’s 1:1 convertibility to Series A means Malone can convert these shares into common voting/economic shares if he chooses.