0001567619-19-022744.txt : 20191209
0001567619-19-022744.hdr.sgml : 20191209
20191209083042
ACCESSION NUMBER: 0001567619-19-022744
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20191205
FILED AS OF DATE: 20191209
DATE AS OF CHANGE: 20191209
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BENNETT ROBERT R
CENTRAL INDEX KEY: 0001119603
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-19036
FILM NUMBER: 191274392
MAIL ADDRESS:
STREET 1: 12300 LIBERTY BLVD
CITY: ENGLEWOOD
STATE: CO
ZIP: 80112
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: LIBERTY MEDIA CORPORATION
CENTRAL INDEX KEY: 0000869614
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
IRS NUMBER: 841146903
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 8101 EAST PRENTICE AVE SUITE 500
CITY: ENGLEWOOD
STATE: CO
ZIP: 80111
BUSINESS PHONE: 3037215400
4
1
doc1.xml
FORM 4
X0306
4
2019-12-05
0
0000869614
LIBERTY MEDIA CORPORATION
FWONK
0001119603
BENNETT ROBERT R
12300 LIBERTY BOULEVARD
ENGLEWOOD
CO
80112
1
0
0
0
Forward Sale Contract (obligation to sell)
2019-12-05
4
J
0
1
A
Series C Liberty Formula One Common Stock
381616
1
I
See Footnote
On December 5, 2019, the reporting person, through a limited liability company (the "LLC") owned and controlled by the reporting person and his wife, entered into a prepaid variable forward sale contract with an unaffiliated third party buyer. The contract obligates the LLC to deliver to the buyer up to an aggregate of 381,616 shares of Series C Liberty Formula One Common Stock (the "Shares") (or, at the LLC's election, an equivalent amount of cash based upon the market price of the Shares at that time) over the course of the maturity dates of the contract (December 5, 6 and 9, 2024). In exchange for assuming this obligation, the LLC received a cash payment of $13,868,268.89 on December 9, 2019. The LLC pledged 381,616 Shares (the "Pledged Shares") to secure its obligations under the contract, and retained dividend and voting rights in the Pledged Shares during the term of the pledge.
The number of Shares to be delivered to the buyer on the maturity dates is to be determined as follows: (a) if the volume-weighted average price at which the Shares on the relevant maturity date (the "Settlement Price") is less than or equal to $40.0573 per share (the "Floor Price"), the LLC will deliver to the buyer all of the Pledged Shares related to that maturity date, (b) if the Settlement Price is between the Floor Price and $51.1843 (the "Cap Price"), the LLC will deliver to the buyer a number of Shares having a value (based upon the then market price) equal to the Floor Price, and (c) if the Settlement Price is greater than the Cap Price, the LLC will deliver to the purchaser a number of Shares having a value (based upon the then market price) equal to the Floor Price plus the difference between the Settlement Price and the Cap Price.
The Forward Sale Contract is between an unaffiliated third party buyer and the LLC. The LLC is the record holder of the Pledged Shares.
/s/ Robert R. Bennett
2019-12-09