Liberty Global (LBTYA) CEO granted Class A and C shares under incentive plan

Rhea-AI Filing Summary

Liberty Global Ltd. President & CEO Michael T. Fries received stock awards in both Class A and Class C common shares. He was granted 86,485 shares of each class at no cost following completion of a three-year performance period under the company’s 2023 Ventures Incentive Plan.

To cover tax obligations, 40,623 shares of each class were withheld, leaving him with a net increase of 45,862 Class A shares and 45,862 Class C shares. Following these transactions, he directly holds 1,128,525 Class A shares and 2,039,139 Class C shares, plus additional indirect holdings through a 401(k) plan.

Insider Trade Summary

Net Buyer: 91,724 shares

Net Buy 6 txns

Insider FRIES MICHAEL T

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Shares	86,485	$0.00	$0.00
Exercise Price or Tax Liability	Class A Common Shares	40,623	$12.18	$495K
Grant/Award	Class C Common Shares	86,485	$0.00	$0.00
Exercise Price or Tax Liability	Class C Common Shares	40,623	$11.91	$484K
holding	Class A Common Shares	--	--	--
holding	Class C Common Shares	--	--	--

Holdings After Transaction: Class A Common Shares — 1,128,525 shares (Direct); Class C Common Shares — 2,039,139 shares (Direct); Class A Common Shares — 8,135 shares (Indirect, By 401(k) Plan); Class C Common Shares — 25,783 shares (Indirect, By 401(k) Plan)

Footnotes (1)

1. F1. The shares (subject to applicable tax withholding) were issued to the Reporting Person at the discretion of the Issuer's compensation committee following the completion of the three-year performance period of the Issuer's 2023 Ventures Incentive Plan, which performance period began on January 1, 2023 and ended on December 31, 2025.

FAQ

What did Liberty Global (LBTYA) CEO Michael Fries report in this Form 4?

Michael T. Fries reported stock-based compensation awards in Liberty Global Class A and Class C shares. He received sizable grants tied to the company’s 2023 Ventures Incentive Plan, with a portion of shares withheld to satisfy tax obligations rather than being sold on the open market.

How many Liberty Global Class A shares did Michael Fries receive and retain?

He was granted 86,485 Class A common shares at no cost. Of these, 40,623 shares were withheld to cover taxes, resulting in a net increase of 45,862 Class A shares. After the transactions, he directly holds 1,128,525 Class A shares, plus additional indirect 401(k) holdings.

How many Liberty Global Class C shares did Michael Fries receive and retain?

He was also granted 86,485 Class C common shares. To cover tax liabilities, 40,623 Class C shares were withheld, leaving a net 45,862 additional Class C shares. His direct Class C holdings rose to 2,039,139 shares, with more shares held indirectly through a 401(k) plan.

Were Michael Fries’ Liberty Global share transactions open-market buys or sales?

The reported transactions were compensation-related, not open-market trades. Shares were granted as awards under Liberty Global’s 2023 Ventures Incentive Plan, and shares labeled with code “F” were withheld to pay taxes, reflecting tax-withholding dispositions rather than discretionary purchases or sales.

What incentive plan drove the Liberty Global share grants to Michael Fries?

The share grants were made after completing a three-year performance period under Liberty Global’s 2023 Ventures Incentive Plan. The period began on January 1, 2023 and ended on December 31, 2025, after which the compensation committee exercised discretion to issue the awards.

How many Liberty Global shares does Michael Fries hold indirectly after these transactions?

In addition to his direct holdings, Michael Fries reports 8,135 Class A shares and 25,783 Class C shares held indirectly through a 401(k) plan. These indirect positions complement his substantial direct ownership disclosed in the same Form 4 filing for Liberty Global.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/17/2026 - 04:16 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

FRIES MICHAEL T

(Last) (First) (Middle)

1550 WEWATTA STREET, STE 1000

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Liberty Global Ltd. [ LBTY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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
Class A Common Shares	03/13/2026		A		86,485	A	(1)	1,169,148	D
Class A Common Shares	03/13/2026		F		40,623	D	$12.18	1,128,525	D
Class C Common Shares	03/13/2026		A		86,485	A	(1)	2,079,762	D
Class C Common Shares	03/13/2026		F		40,623	D	$11.91	2,039,139	D
Class A Common Shares								8,135	I	By 401(k) Plan
Class C Common Shares								25,783	I	By 401(k) Plan

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

Explanation of Responses:

1. The shares (subject to applicable tax withholding) were issued to the Reporting Person at the discretion of the Issuer's compensation committee following the completion of the three-year performance period of the Issuer's 2023 Ventures Incentive Plan, which performance period began on January 1, 2023 and ended on December 31, 2025.

Remarks:

The trading symbols for the Issuer's classes of common shares are LBTYA, LBTYB, and LBTYK.

	/s/ Michael T. Fries	03/16/2026
	** 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.