Home > Insider Trading > Filing (0001104659-12-035310)

Filing Details

Accession Number:: 0001104659-12-035310
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-05-09 13:00:00
Reporting Period:: 2012-05-07

Filing Date:: 2012-05-09
Accepted Time:: 2012-05-09 17:34:43
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
908937	Sirius Xm Radio Inc.	SIRI	Radio Broadcasting Stations (4832)	521700207

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1507934	Liberty Media Corp	12300 Liberty Boulevard Englewood CO 80112		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-05-08	16,000,000	$2.14	16,000,000	No	4	P	Indirect	Through Wholly Owned Subsidiary
Common Stock	Acquisiton	2012-05-09	44,350,000	$2.13	60,350,000	No	4	P	Indirect	Through Wholly Owned Subsidiary

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Through Wholly Owned Subsidiary
No	4	P	Indirect	Through Wholly Owned Subsidiary

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Forward purchase contract (obligation to buy)	Acquisiton	2012-05-07	302,198,700	$0.00	302,198,700	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
302,198,700	2012-07-06	2012-07-06	Yes	4	J	Indirect

Footnotes

The price reflects a weighted average of purchases made at prices ranging from $2.095 to $2.15. The Reporting Person agrees to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
The shares of Common Stock are held directly by Liberty Radio, LLC, which is a wholly owned subsidiary of the Reporting Person.
The price reflects a weighted average of purchases made at prices ranging from $2.075 to $2.19. The Reporting Person agrees to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
On December 30, 2011, Liberty Radio, LLC, a wholly-owned subsidiary of the Reporting Person, entered into a forward purchase contract (the "Forward Contract") with an unaffiliated counterparty covering up to a maximum of 315,000,000 notional shares of the Issuer's Common Stock. The exact number of shares to be covered by the Forward Contract is to equal the number purchased by the counterparty to establish its initial hedge.
The Forward Contract provides for physical settlement upon expiration, with the Reporting Person retaining the right to elect cash settlement instead. In the case of physical settlement, the "forward price" will equal the value average weighted price of the shares of the Issuer's Common Stock during the initial hedging period plus a commission (the "base price"), plus an amount equal to the counterparty's internal funding costs plus a spread. If cash settlement is elected, (i) if the cash settlement price (which would be based on the price at which the counterparty unwinds its hedge) exceeds the forward price, then the counterparty will be obligated to pay the difference to the Reporting Person, and (ii) if the cash settlement price is less than the forward price, then the Reporting Person will be obligated to pay the difference to the counterparty.
On May 7, 2012, the unaffiliated counterparty completed its initial hedge, and the number of notional shares of Common Stock covered by the Forward Contract has been fixed at 302,198,700 shares. Under the Forward Contract, the expiration date is to be July 6, 2012, or 60 days after the completion of the counterparty's initial hedge. The base price under the Forward Contract is approximately $2.15 per share.