Liberty Broadband (LBRDA) insider has 17K options canceled in Charter deal
Rhea-AI Filing Summary
Liberty Broadband Corp (LBRDA) director John E. Welsh III reported transactions tied to the merger of Liberty Broadband into a Charter Communications subsidiary. At the merger’s effective time on August 19, 2026, each Liberty Series A and Series C share was automatically converted into 0.2360 Charter Class A common share, with cash paid in lieu of fractional shares.
In connection with this restructuring, Welsh disposed of 5,000 Series A and 3,917 Series C Liberty shares, leaving 0 shares of each class directly held. In addition, five fully exercisable Liberty stock option grants covering a total of 17,471 underlying Series C shares, with exercise prices ranging from $71.17 to $153.58, were cancelled for no consideration under the merger agreement.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,917 shares
Net Sell
7 txns
Insider
WELSH JOHN E III
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 2,242 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 2,961 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 2,841 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 3,243 | $0.00 | $0.00 |
| Disposition | Stock Option - LBRDK (Right to Buy) F3, F2 | 6,184 | $0.00 | $0.00 |
| Disposition | Series A Common Stock F1 | 5,000 | $0.00 | $0.00 |
| Disposition | Series C Common Stock F1 | 3,917 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option - LBRDK (Right to Buy) — 0 shares (Direct);
Series A Common Stock — 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 A Common Stock and 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 A Common Stock disposed: 5,000 shares
Series C Common Stock disposed: 3,917 shares
Stock option cancelled (exercise price): $153.58 per share
+5 more
8 metrics
Series A Common Stock disposed
5,000 shares
Issuer disposition on 2026-08-19; holdings after transaction reported as 0 shares
Series C Common Stock disposed
3,917 shares
Issuer disposition on 2026-08-19; holdings after transaction reported as 0 shares
Stock option cancelled (exercise price)
$153.58 per share
2,242-option grant; fully exercisable; expiration 2027-12-07; cancelled for no consideration
Stock option cancelled (exercise price)
$147.33 per share
2,961-option grant; fully exercisable; expiration 2028-12-07; cancelled for no consideration
Stock option cancelled (exercise price)
$110.24 per share
2,841-option grant; fully exercisable; expiration 2026-12-10; cancelled for no consideration
Stock option cancelled (exercise price)
$71.17 per share
3,243-option grant; fully exercisable; expiration 2030-12-11; cancelled for no consideration
Stock option cancelled (exercise price)
$83.37 per share
6,184-option grant; fully exercisable; expiration 2029-12-12; cancelled for no consideration
Share conversion ratio
0.2360 Charter Class A share per Liberty share
Each Liberty Series A and Series C share converted at this ratio at the merger effective time
Key Terms
Agreement and Plan of Merger, effective time of the Merger, 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.
effective time of the Merger regulatory
"at the effective time of the Merger, each share of the Issuer's Series A"
The effective time of the merger is the exact moment when a planned combination of two companies legally takes effect, usually specified in the merger agreement and reflected by the formal filing or timestamp. For investors, it is the point when ownership, voting rights, financial reporting and control shift—like a light switch flipping that joins two rooms into one—so it determines when shares convert, who controls corporate decisions and which results appear in financial statements.
Class A common stock financial
"converted into 0.2360 of a share of Charter Communications, Inc. 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 A Common Stock and Series C Common Stock"
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.
cancelled for no consideration financial
"such stock option of the Issuer was cancelled for no consideration"
FAQ
What insider transactions did John E. Welsh III report for Liberty Broadband (LBRDA)?
John E. Welsh III reported dispositions on August 19, 2026 of 5,000 shares of Liberty Broadband Series A Common Stock, 3,917 shares of Series C Common Stock, and the cancellation for no consideration of five fully exercisable Liberty stock option grants covering 17,471 underlying Series C shares.
What happened to John E. Welsh III’s Liberty Broadband common stock holdings?
Welsh disposed of 5,000 Series A and 3,917 Series C Liberty Broadband shares in issuer transactions tied to the merger. After these transactions, his directly held Series A and Series C Common Stock positions were reported as 0 shares.
What happened to the Liberty Broadband stock options held by John E. Welsh III?
Five fully exercisable Liberty Broadband stock option awards, each for 2,242; 2,961; 2,841; 3,243; and 6,184 underlying Series C shares with exercise prices from $71.17 to $153.58, were cancelled for no consideration immediately prior to the merger’s effective time.
Were John E. Welsh III’s Liberty Broadband options vested before cancellation?
Yes. A footnote states that “These options were fully exercisable” before the merger. Despite being fully exercisable, another footnote explains they were cancelled for no consideration pursuant to the terms of the merger agreement immediately prior to the effective time.
Was a Rule 10b5-1 trading plan involved in these Liberty Broadband (LBRDA) transactions?
No. The Form 4 indicates the Rule 10b5-1 checkbox as not checked, and there is no footnote indicating that these transactions were executed under a Rule 10b5-1 or other pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
