GCI Liberty (GLIBA) director John Malone boosts Series C holdings via rights

Rhea-AI Filing Summary

GCI Liberty, Inc. director and 10% owner John C. Malone reported exercising subscription rights in a rights offering for Series C GCI Group Common Stock on December 15, 2025. He exercised rights at an exercise price of $27.20 per share, acquiring 726,208 shares directly, bringing his directly held Series C GCI Group Common Stock to 1,947,566 shares after the transactions.

Malone also reported indirect acquisitions through affiliated entities. These included 1,408 shares held by the John C. Malone June 2003 Charitable Remainder Unitrust, 33,790 shares held by the Leslie A. Malone 1995 Revocable Trust, and 16,376 shares held by the Malone LG 2013 Charitable Remainder Unitrust. The filing notes that Malone disclaims beneficial ownership of shares owned by his spouse and that the rights offering, which commenced on November 26, 2025, may be terminated, extended, or have its expiration time of 5:00 p.m. New York City time on December 17, 2025 extended by the issuer.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MALONE JOHN C

(Last) (First) (Middle)

12300 LIBERTY BOULEVARD

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GCI Liberty, Inc. [ GLIBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series C GCI Group Common Stock	12/15/2025		M		726,208	A	$27.2	1,947,566	D
Series C GCI Group Common Stock	12/15/2025		M		1,408	A	$27.2	1,408	I	John C. Malone June 2003 Charitable Remainder Unitrust
Series C GCI Group Common Stock	12/15/2025		M		33,790	A	$27.2	105,211	I	Leslie A. Malone 1995 Revocable Trust(1)
Series C GCI Group Common Stock	12/15/2025		M		16,376	A	$27.2	59,042	I	Malone LG 2013 Charitable Remainder Unitrust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Subscription Right (Right to Buy) - GLIBK(2)	$27.2	12/15/2025		M			726,208	(3)	(4)	Series C GCI Group Common Stock	726,208	$0.0000	0.0000	D
Subscription Right (Right to Buy) - GLIBK(2)	$27.2	12/15/2025		M			1,408	(3)	(4)	Series C GCI Group Common Stock	1,408	$0.0000	0.0000	I	John C. Malone June 2003 Charitable Remainder Unitrust
Subscription Right (Right to Buy) - GLIBK(2)	$27.2	12/15/2025		M			33,790	(3)	(4)	Series C GCI Group Common Stock	33,790	$0.0000	0.0000	I	Leslie A. Malone 1995 Revocable Trust(1)
Subscription Right (Right to Buy) - GLIBK(2)	$27.2	12/15/2025		M			16,376	(3)	(4)	Series C GCI Group Common Stock	16,376	$0.0000	0.0000	I	Malone LG 2013 Charitable Remainder Unitrust

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these shares owned by his spouse.

2. The rights offering is subject to termination or extension by the Issuer at any time prior to consummation.

3. The rights offering commenced on November 26, 2025.

4. The rights offering will expire at 5:00 p.m., New York City time, on December 17, 2025 unless extended by the Issuer.

	/s/ Brittany A. Uthoff as Attorney-in-Fact for John C. Malone	12/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did GCI Liberty (GLIBA) report for John C. Malone?

The report shows that John C. Malone, a director and 10% owner of GCI Liberty, Inc., exercised subscription rights in a rights offering for Series C GCI Group Common Stock on December 15, 2025, acquiring additional shares at a fixed price.

How many GCI Liberty (GLIBA) shares did John C. Malone acquire directly?

John C. Malone exercised subscription rights to acquire 726,208 shares of Series C GCI Group Common Stock at $27.20 per share, resulting in 1,947,566 shares of this stock held directly after the reported transactions.

What indirect holdings were reported for John C. Malone in GCI Liberty (GLIBA)?

Indirect interests reported include 1,408 shares of Series C GCI Group Common Stock held by the John C. Malone June 2003 Charitable Remainder Unitrust, 33,790 shares held by the Leslie A. Malone 1995 Revocable Trust, and 16,376 shares held by the Malone LG 2013 Charitable Remainder Unitrust.

What was the exercise price for the GCI Liberty (GLIBA) subscription rights?

Each subscription right labeled as Subscription Right (Right to Buy) - GLIBK was exercisable at an exercise price of $27.20 per share of Series C GCI Group Common Stock.

When did the GCI Liberty (GLIBA) rights offering start and when is it scheduled to expire?

The rights offering commenced on November 26, 2025 and is scheduled to expire at 5:00 p.m., New York City time, on December 17, 2025, with the issuer having the ability to extend or terminate the offering prior to consummation.

Does John C. Malone claim beneficial ownership of all shares reported for GCI Liberty (GLIBA)?

The disclosure states that John C. Malone disclaims beneficial ownership of the shares owned by his spouse, even though those shares are reported in connection with his overall holdings structure.