Liberty Broadband (LBRDA) insider’s stake and options erased in Charter merger
Rhea-AI Filing Summary
Liberty Broadband Corp (LBRDA) reported that officer Renee L. Wilm disposed of Liberty Broadband securities in connection with the merger of Liberty Broadband into a Charter Communications, Inc. subsidiary. On August 19, 2026, 12,312 shares of Series C Common Stock were disposed of and the reported direct holding in that class became 0 shares. Six tranches of fully exercisable stock options on Series C Common Stock were also disposed of in issuer transactions and, under the merger agreement, were cancelled for no consideration. Each share of Series C Common Stock outstanding at the merger effective time was automatically converted into 0.2360 of a share of Charter Class A Common Stock, with cash paid in lieu of fractional shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 12,312 shares
Net Sell
7 txns
Insider
Wilm Renee L
Role
Chief Legal/Admin Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 26,989 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 19,445 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 5,227 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 8,138 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 23,606 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 63,917 | $0.00 | $0.00 |
| Disposition | Series C Common Stock F1 | 12,312 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option - LBRDK (Right to Buy) — 0 shares (Direct);
Series C Common Stock — 0 shares (Direct)
Footnotes (3)
- F1. Pursuant to the terms of the Merger Agreement (as defined in the Remarks section), at the effective time of the Merger (as defined in the Remarks section), each share of the Issuer's Series C Common Stock issued and outstanding immediately prior to the effective time of the Merger was automatically converted into 0.2360 of a share of Charter Communications, Inc. ("Charter") Class A Common Stock, except that cash (without interest) was paid in lieu of fractional shares.
- F2. These options were fully exercisable.
- F3. Pursuant to the terms of the Merger Agreement, immediately prior to the effective time of the Merger, such stock option of the Issuer was cancelled for no consideration.
Key Figures
Series C Common Stock disposed: 12,312 shares
Option shares disposed (tranche 1): 26,989 options
Option shares disposed (tranche 2): 19,445 options
+2 more
5 metrics
Series C Common Stock disposed
12,312 shares
Disposition to issuer on August 19, 2026; direct holdings became 0 shares
Option shares disposed (tranche 1)
26,989 options
Stock Option - LBRDK with $110.25 exercise price, disposed to issuer and cancelled
Option shares disposed (tranche 2)
19,445 options
Stock Option - LBRDK with $118.15 exercise price, disposed to issuer and cancelled
Option shares disposed (tranche 3)
63,917 options
Stock Option - LBRDK with $72.31 exercise price, disposed to issuer and cancelled
Merger share exchange ratio
0.2360 Charter Class A share per Liberty Broadband Series C share
Conversion of each Liberty Broadband Series C share at the effective time of the merger
Key Terms
Agreement and Plan of Merger, Disposition to issuer, Class A Common Stock, Series C Common Stock, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated as of November 12, 2024"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
Class A Common Stock financial
"converted into 0.2360 of a share of Charter Communications, Inc. ("Charter") Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Series C Common Stock financial
"each share of the Issuer's Series C Common Stock issued and outstanding"
Series C common stock is a specific class of a company’s ordinary shares that is labeled “Series C” to distinguish its rights and history from other share classes. Investors should care because these shares can carry different voting power, dividend rules, or priority if the company is sold, so owning Series C is like having a particular model of a product with slightly different features that affect control, payout and value compared with other share classes.
wholly owned subsidiary financial
"Merger LLC surviving the Upstream Merger as the surviving company and a wholly owned subsidiary of Charter"
A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.
FAQ
What did the Liberty Broadband Corp (LBRDA) Form 4 report for Renee L. Wilm?
The Form 4 reports that officer Renee L. Wilm disposed of Liberty Broadband Series C Common Stock and multiple stock option awards on August 19, 2026 in issuer transactions tied to the merger with a Charter Communications, Inc. subsidiary.
What happened to Renee L. Wilm’s Liberty Broadband stock options in the merger?
Six tranches of fully exercisable Liberty Broadband stock options held by Renee L. Wilm, covering various share amounts and exercise prices, were reported as disposed of to the issuer on August 19, 2026 and, under the merger agreement, were cancelled for no consideration.
Was the Liberty Broadband (LBRDA) Form 4 filed under a Rule 10b5-1 trading plan?
No. The document-level Rule 10b5-1 checkbox is not checked (aff_10b5_one is false), indicating these transactions were not affirmed as being made pursuant to a Rule 10b5-1 trading plan.
Did Renee L. Wilm retain any Liberty Broadband Series C Common Stock after these transactions?
No. The Form 4 shows total shares of Liberty Broadband Series C Common Stock following the transaction as 0 shares directly owned.
AI-generated analysis. How Rhea-AI works. Not financial advice.
