[Form 3] Liberty Broadband Corporation Series A Cumulative Redeemable Preferred Stock Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

RiverNorth Strategic Holdings, LLC, identified as a 10% owner of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (ticker: OPP), filed a Form 4 disclosing an internal share transfer dated 12 December 2024.

The filing shows the transfer of 83,818 common shares and 41,909 Series C 6.00% preferred shares from a sister company to RiverNorth Strategic Holdings. No consideration was paid, as indicated by transaction code “J” and the explanatory note that the shares were moved within the broader corporate structure. Following the transaction, the reporting entity’s direct beneficial ownership stands at 155,271 common and 197,180 preferred shares.

Because the shares were re-registered within related entities rather than bought or sold in the open market, the filing is primarily an administrative change and does not signal a change in market sentiment, valuation, or cash flows for OPP. The event slightly clarifies the ownership structure but carries limited direct impact for outside investors.

Insights

Financial Analyst

TL;DR: Internal share transfer; no cash; neutral investor impact.

The Form 4 records an inter-company share reallocation—83.8k common and 41.9k preferred—moving into RiverNorth Strategic Holdings. Code “J” and the note confirm a non-market, no-price transfer, likely housekeeping. Post-transaction holdings rise to 155.3k common and 197.2k preferred, reinforcing the entity’s 10%+ stake but not altering aggregate ownership across affiliated companies. There is no dilution, purchase premium, or sale discount, so valuation drivers remain unchanged. I view the disclosure as not materially impactful for OPP shareholders.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Patterson Martin Edward

(Last) (First) (Middle)

12300 LIBERTY BLVD.

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/14/2025

3. Issuer Name and Ticker or Trading Symbol
Liberty Broadband Corp [ LBRDK ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Common Stock	270	D
Series A Cumulative Redeemable Preferred Stock	225	D
Series C Common Stock	2,506	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units-LBRDK	(1)	(1)	Series C Common Stock	771	(2)	D
Stock Option - LBRDK (Right to Buy)	(3)	12/11/2030	Series C Common Stock	3,191	$76.45	D
Stock Option - LBRDK (Right to Buy)	(4)	12/13/2030	Series C Common Stock	7,595	$77.68	D
Stock Option - LBRDK (Right to Buy)	(5)	12/10/2027	Series C Common Stock	3,541	$116.9	D
Stock Option - LBRDK (Right to Buy)	(5)	12/10/2027	Series C Common Stock	4,364	$118.43	D

Explanation of Responses:

1. This restricted stock unit award vests in two substantially equal installments on December 9, 2025 and 2026.

2. Each restricted stock unit represents a contingent right to receive one share of Series C Common Stock.

3. This option award vests in three substantially equal installments on December 11, 2024, 2025, and 2026.

4. Represents a retention grant which vested 50% on December 13, 2024 and will vest 25% on December 13, 2025 and 2026, subject to the Reporting Person's continued service to the Issuer through the applicable vesting dates.

5. This option award is fully exercisable.

	/s/ Brittany A. Uthoff as Attorney-in-Fact for Martin E. Patterson	07/14/2025
	** 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 5 (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 was disclosed in RiverNorth Strategic Holdings’ Form 4 for OPP?

An internal transfer of 83,818 common and 41,909 preferred OPP shares on 12/02/2024 was reported.

Did RiverNorth Strategic Holdings buy or sell OPP shares for cash?

No. The shares were transferred without consideration; transaction code "J" shows a non-market event.

How many OPP shares does RiverNorth Strategic Holdings now own?

After the transfer, the entity directly holds 155,271 common and 197,180 preferred shares.

Does the Form 4 indicate any change in OPP’s overall share count?

No. The filing reflects re-registration within related entities; it does not affect OPP’s outstanding share count.

Is this Form 4 filing likely to impact OPP’s stock price?

The event is administrative and non-monetary, so it is generally considered immaterial to market valuation.