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Atlanta Braves Holdings, Inc. (NASDAQ:BATRA, NASDAQ:BATRK), a $2.94 billion market cap company trading near its 52-week high of $50.00, announced on Friday that its Compensation Committee approved new performance stock unit (PSU) awards and an updated compensation package for its Chairman, Chief Executive Officer and President, Terence F. McGuirk. According to InvestingPro analysis, the company maintains a FAIR financial health score of 2.03, despite facing profitability challenges in recent quarters.
According to a statement based on a Securities and Exchange Commission filing, the PSUs were granted to certain officers and employees, including the company’s named executive officers. The PSUs will vest over a three-year period starting January 1, 2025, and ending December 31, 2027. Vesting will be determined by the company’s compound annual growth rate of revenue during the performance period, with awards ranging from 0% to 200% of the granted units, subject to pre-established targets set by the Compensation Committee and continued employment.
The number of PSUs awarded to the named executive officers is as follows:
- 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 entitles the holder to receive one share of the company’s Series C common stock upon vesting. The awards were granted under the company’s 2023 Omnibus Incentive Plan.
The Compensation Committee also approved a new compensation arrangement for Mr. McGuirk, effective Friday. His annual base salary is set at $1,200,000. He will also be eligible for a short-term incentive award target opportunity of $2,000,000 and a long-term equity-based award opportunity of $6,800,000 for the 2025 calendar year.
The company stated that the full text of the PSU award agreement will be filed as an exhibit to its upcoming quarterly report, expected with the next earnings release on August 1, 2025. Investors seeking to evaluate the impact of these compensation changes can access detailed valuation metrics and 12 additional ProTips through InvestingPro, which currently indicates the stock may be trading above its Fair Value.
This information is based on a press release statement and the company’s recent SEC filing.
In other recent news, Liberty Media Corporation has received final approval from the European Commission to proceed with its acquisition of Dorna Sports, the commercial rights holder of the MotoGP World Championship. The transaction, valued at €4.3 billion, is set to close by July 3, 2025. Liberty Media will acquire 84% of Dorna, with the remainder retained by Dorna management. Additionally, Atlanta Braves Holdings, Inc. reported voting results from its Annual Meeting of Stockholders. Terence F. McGuirk and Diana M. Murphy were elected as Class II directors, while KPMG was ratified as the independent auditor for 2025.
Benchmark analyst Matthew Harrigan has maintained a Buy rating on Liberty Braves Group, setting a price target of $60. Harrigan cited the potential for high valuations of major sports teams, supported by the recent $3.6 billion valuation of the Portland Trail Blazers. Liberty Braves Group’s valuation is reported at $3 billion, ranking it as the eighth most expensive MLB team. Despite this, the Braves have a larger TV market in the Southeast and a strong return on investment in on-field performance.
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