Liberty Capital director settles collar on 40,200 shares
Director and 10% owner John C. Malone cash-settled three zero-cost collar components on Series C GCI Group stock, with puts exercised and calls expiring unexercised.
Rhea-AI Filing Summary
Liberty Capital Corp/NV (symbol: GLIBA) is the issuer of record for a Form 4 filing submitted to the SEC. MALONE JOHN C reported disposition transactions in this Form 4 filing.
Liberty Capital Corp/NV (GLIBA) director and ten percent owner John C. Malone reported activity related to a previously disclosed zero-cost collar on Series C GCI Group Common Stock. On August 31, 2026, September 1, 2026, and September 2, 2026, three 13,400-share components of the collar matured, with the in-the-money European put options on a total of 40,200 shares exercised at $30.15 per share and the related written European call options at $41.2049 per share expiring unexercised. Each component settled in cash, and Malone received $55,208, $58,290, and $53,332, respectively; no Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
40,200 shares exercised/converted
Exercise
6 txns
Insider
MALONE JOHN C
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Derivative Expiration | Call option (obligation to sell) F1, F2, F5 | 13,400 | $0.00 | $0.00 |
| In-the-Money Exercise | Put option (right to sell) F1, F2, F5 | 13,400 | $0.00 | $0.00 |
| Derivative Expiration | Call option (obligation to sell) F1, F2, F4 | 13,400 | $0.00 | $0.00 |
| In-the-Money Exercise | Put option (right to sell) F1, F2, F4 | 13,400 | $0.00 | $0.00 |
| Derivative Expiration | Call option (obligation to sell) F1, F2, F3 | 13,400 | $0.00 | $0.00 |
| In-the-Money Exercise | Put option (right to sell) F1, F2, F3 | 13,400 | $0.00 | $0.00 |
Holdings After Transaction:
Call option (obligation to sell) — 40,200 contracts (Direct);
Put option (right to sell) — 40,200 contracts (Direct)
Footnotes (5)
- F1. As previously disclosed by the Reporting Person, on July 15, 2025, the Reporting Person was automatically deemed to have entered into a "zero-cost collar" arrangement with respect to 200,000 shares of the Issuer's Series C GCI Group Common Stock (the "Collar"), pursuant to which he wrote European call options and purchased European put options referencing shares of Series C GCI Group Common Stock. Only one of the options can be in the money on the expiration date, at which time the in-the-money options will be exercised, and the other options will expire. If neither the put options nor the call options are in the money on the expiration date, both the put and call options will expire. The Collar will be settled in cash unless the Reporting Person elects physical settlement.
- F2. The Collar is divided into 15 components, the first 5 of which are with respect to 13,200 shares of Series C GCI Group Common Stock and the last 10 of which are with respect to 13,400 shares, maturing on sequential trading days over the period beginning on August 18, 2026 and ending on September 8, 2026.
- F3. On August 31, 2026, the tenth component of the Collar settled in cash and the Reporting Person received a cash amount of $55,208. On the same date, the related call option expired unexercised.
- F4. On September 1, 2026, the eleventh component of the Collar settled in cash and the Reporting Person received a cash amount of $58,290. On the same date, the related call option expired unexercised.
- F5. On September 2, 2026, the twelfth component of the Collar settled in cash and the Reporting Person received a cash amount of $53,332. On the same date, the related call option expired unexercised.
Key Figures
Underlying shares per component: 13,400 shares
Total underlying shares exercised: 40,200 shares
Put option strike price: $30.15 per share
+5 more
8 metrics
Underlying shares per component
13,400 shares
Each of the tenth, eleventh and twelfth collar components
Total underlying shares exercised
40,200 shares
Three put options exercised on August 31, September 1 and September 2, 2026
Put option strike price
$30.15 per share
European put options on Series C GCI Group Common Stock
Call option strike price
$41.2049 per share
Written European call options in the collar
Cash received on August 31, 2026
$55,208
Settlement of the tenth collar component
Cash received on September 1, 2026
$58,290
Settlement of the eleventh collar component
Cash received on September 2, 2026
$53,332
Settlement of the twelfth collar component
Total shares covered by collar
200,000 shares
Zero-cost collar on Series C GCI Group Common Stock
Key Terms
zero-cost collar, European call options, European put options, Series C GCI Group Common Stock, +1 more
5 terms
zero-cost collar financial
"the Reporting Person was automatically deemed to have entered into a "zero-cost collar" arrangement"
A zero-cost collar is a hedging strategy where an investor protects a stock holding by buying downside insurance (a put) and offsetting the cost by selling the right to some future upside (a call), arranged so the insurance and sale balance out and no net premium is paid. It matters because it sets a known range of possible outcomes—capping potential losses and gains—so investors trade unlimited risk for predictable, limited returns, much like buying home insurance paid for by agreeing to share future renovation profits.
European call options financial
"pursuant to which he wrote European call options and purchased European put options"
European put options financial
"pursuant to which he wrote European call options and purchased European put options"
Series C GCI Group Common Stock financial
"with respect to 200,000 shares of the Issuer's Series C GCI Group Common Stock"
cash settled financial
"the tenth component of the Collar settled in cash and the Reporting Person received"
A contract described as cash settled is one where, at the end, one party pays the monetary difference in value rather than delivering the actual underlying asset. For investors this matters because it simplifies transactions (like settling a bet by paying the win amount instead of handing over a physical item), affects liquidity and timing of cash flows, and changes exposure to storage, delivery logistics and certain tax or counterparty considerations.
FAQ
What derivative transactions did GLIBA insider John C. Malone report?
John C. Malone reported three components of a zero-cost collar on Series C GCI Group Common Stock maturing on August 31, 2026, September 1, 2026, and September 2, 2026, each covering 13,400 shares, with puts exercised and written calls expiring unexercised and settling in cash.
What cash amounts did John C. Malone receive from the GLIBA collar settlements?
Malone received $55,208 on August 31, 2026, $58,290 on September 1, 2026, and $53,332 on September 2, 2026, when three components of his zero-cost collar on Series C GCI Group Common Stock settled in cash and the related call options expired unexercised.
Was Malone’s GLIBA Form 4 filed under a Rule 10b5-1 trading plan?
The Form 4 indicates that the Rule 10b5-1 checkbox is not marked, and no footnote describes a trading plan, so no Rule 10b5-1 plan is reported for these collar-related derivative transactions.
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