Atlanta Braves (BATRK) EVP Derek Schiller Exercises Options, Sells Shares

What Happened

• Derek Gordon Schiller, EVP, Business of Atlanta Braves Holdings (BATRK), exercised 175,395 option-derived shares at $27.18 per share (total cost $4,767,236) on 2026-09-30 and the same day sold all 175,395 shares in the open market at a weighted average price of $53.20 per share (gross proceeds $9,331,014). The transaction resulted in net proceeds of roughly $4,563,778 before taxes and fees. The filing also reports the derivative instrument was converted/exercised (reported as a disposition at $0).

Key Details

• Transaction date: 2026-09-30
• Exercise: 175,395 shares at $27.18 — $4,767,236 total
• Sale: 175,395 shares at weighted avg $53.20 — $9,331,014 total (price range reported $52.41–$54.10)
• Plan/authorization: Sales were effected under a Rule 10b5-1 plan adopted by Mr. Schiller on June 30, 2026 (footnote F1)
• Derivative note: The filing shows the derivative was converted/exercised (reported as disposed at $0)
• Shares owned after transaction: Not disclosed in this Form 4
• Filing timeliness: Report filed 2026-10-01 for a 2026-09-30 transaction (appears timely)

Context

• Because the shares were exercised and sold the same day, this is effectively a cashless exercise (options converted to shares and immediately sold). Sales under a pre-established 10b5-1 plan are routine mechanisms insiders use to manage holdings and comply with insider trading rules; they do not, by themselves, indicate the insider’s view of the company’s long-term prospects. The weighted-average sale price is provided; the filer notes the per-price breakdown ($52.41–$54.10) can be supplied on request (footnote F2).