MALONE JOHN C 4

What Happened

• John C. Malone, a 10% owner of Liberty Media Corp (FWONK), wrote (sold) over‑the‑counter put options on March 30, 2026 tied to 250,000 shares. The Form 4 reports the derivative premium as $5.14 per share (total ≈ $1,284,000). This is a derivative sale (not an open‑market sale of his shares) that generated immediate cash (the premium).

Key Details

• Transaction date: March 30, 2026; filing date: March 31, 2026 (timely).
• Reported amount: 250,000 shares (derivative reference) at $5.14 per share premium; total premium ≈ $1,284,000.
• Shares owned after transaction: not specified in this filing.
• Footnote: The puts are European‑style, may be settled in cash or by physical delivery at Malone’s option, and expire in three roughly equal tranches on Mar 29, Mar 30 and Mar 31, 2027. The strike price is reported as $71.7531 (determined by a formula tied to the counterparty’s hedge prices).
• Transaction type: derivative (Form 4 code "S" — sale of a derivative interest), not a straightforward equity sale or purchase.

Context

• Selling (writing) put options provides immediate income (the premium) but can require the writer to buy the underlying shares (or settle in cash) at the strike if the options are exercised/settled. This filing documents a derivative income strategy by a 10% owner rather than a direct buy/sell of stock.