+1: Until end of turn, Sarkhan, the Dragonspeaker becomes a legendary 4/4 red Dragon creature with flying, indestructible, and haste. (He doesn't lose loyalty while he's not a planeswalker.)
−3: Sarkhan, the Dragonspeaker deals 4 damage to target creature.
−6: You get an emblem with "At the beginning of your draw step, draw two additional cards" and "At the beginning of your end step, discard your hand."
9/20/2014 If Sarkhan, the Dragonspeaker becomes a creature due to his first ability, that doesn’t count as having a creature enter the battlefield. Sarkhan was already on the battlefield; he only changed his types. Abilities that trigger whenever a creature enters the battlefield won’t trigger.
9/20/2014 Any loyalty counters on Sarkhan when his first ability resolves will remain on him while he’s a creature. Because he’s not a planeswalker at this time, damage dealt to him won’t cause those counters to be removed.
9/20/2014 If a permanent enters the battlefield as a copy of Sarkhan after his first ability has resolved, the copy will be a Sarkhan planeswalker. It will enter the battlefield with four loyalty counters, no matter how many loyalty counters are on the original Sarkhan. You’ll then find yourself in the same situation described above.