UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Performance Stock Unit Awards
On June 27, 2025, the Compensation Committee of the Board of Directors (the “Compensation Committee”) of Atlanta Braves Holdings, Inc. (the “Company”) approved a grant of performance stock unit awards (the “PSUs”) to certain officers and employees of the Company, including the named executive officers listed below.
The PSUs will vest based upon the Company’s performance over a three-year period, commencing January 1, 2025 and ending on December 31, 2027 (the “Performance Period”). The PSUs will vest from 0% up to 200% based on the Company’s level of achievement of compound annual growth rate of revenue during the Performance Period, at levels pre-established by the Compensation Committee. Vesting of the PSUs is subject to the employee’s continued employment with the Company (with certain exceptions as provided in the Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan (the “Plan”) and the applicable PSU award agreement).
The number of PSUs as approved by the Compensation Committee for the Company’s named executive officers are as follows:
Executive | Number of PSUs Awarded (#) |
Terence F. McGuirk | 150,000 |
Derek G. Schiller | 85,000 |
Michael P. Plant | 85,000 |
Gregory J. Heller | 50,000 |
Jill L. Robinson | 50,000 |
Each PSU represents the right to receive, on a one-for-one basis; a share of Series C common stock of the Company. PSUs were granted under, and pursuant to the terms and conditions of the Plan as well as the form of PSU award agreement.
The foregoing description of the PSUs does not purport to be complete and is qualified in its entirety by reference to the full text of the PSU award agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending June 30, 2025.
Certain Officer Compensation Arrangement
On June 27, 2025, the Compensation Committee also approved the following compensation arrangement with Terence F. McGuirk, the Company’s Chairman, Chief Executive Officer and President: (i) annual base salary of $1,200,000, effective June 27, 2025; (ii) short-term incentive award target opportunity of $2,000,000, effective for calendar year 2025; and (iii) long-term equity-based award opportunity of $6,800,000, effective for calendar year 2025.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 3, 2025
ATLANTA BRAVES HOLDINGS, INC. | ||
By: | /s/ Greg Heller | |
Name: Greg Heller | ||
Title: Executive Vice President, Chief Legal Officer | ||
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