Form 4: Berkshire Hathaway Reports Redemption of Liberty SiriusXM Common Stock

Berkshire Hathaway reports the redemption of its Liberty SiriusXM common stock for shares of Sirius XM Holdings Inc. and cash.

Summary

• On September 9, 2024, Liberty Media Corporation redeemed each share of its Series A, Series B, and Series C Liberty SiriusXM common stock.
• The redemption resulted in Berkshire Hathaway receiving 0.8375 of a share of common stock of Sirius XM Holdings Inc. for each share of Liberty SiriusXM common stock.
• Cash was paid in lieu of any fractional shares of common stock of Sirius XM Holdings.
• Berkshire Hathaway directly owned 70,002,897 shares of Series C Liberty SiriusXM Common Stock before the redemption.
• 55,224,575 shares were held by Berkshire's subsidiaries, including Government Employees Insurance Company, National Fire & Marine Insurance Company, and National Indemnity Company.
• 14,778,322 shares were held by Berkshire's subsidiaries' pension plans.
• Warren E. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to a corporate action. The sentiment is neutral as it simply reports a transaction.

Management Comments

• Warren E. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Industry Context

This announcement reflects the completion of a corporate action by Liberty Media involving its SiriusXM holdings, impacting major shareholders like Berkshire Hathaway.

Stakeholder Impact

• Shareholders of Liberty SiriusXM common stock were impacted by the redemption and received shares of Sirius XM Holdings Inc. and cash.
• Berkshire Hathaway, as a major shareholder, was directly affected by this transaction.

Key Dates

Keywords

Liberty SiriusXM, Sirius XM Holdings, Berkshire Hathaway, Redemption, Common Stock, Warren Buffett, SEC Form 4