Liberty Global (LBTYA) awards PSUs and RSUs to SVP & CAO

Rhea-AI Filing Summary

Liberty Global Ltd. reported that its SVP & CAO, Jason Waldron, received multiple equity awards in the form of performance share units (PSUs) and restricted share units (RSUs) tied to the company’s Class A and Class C common shares. The PSUs are contingent on stock price performance from January 1, 2026 through December 31, 2028 and use cliff vesting on February 15, 2029, with payouts ranging from 0–100% and the potential to reach up to 200% on overperformance. The RSUs each convert into one Class A or Class C share and vest in scheduled installments: one RSU grant vests in three equal annual tranches starting May 1, 2027, while another vests in two equal parts on April 1, 2029 and October 1, 2029, assuming continued service. These awards are compensation grants and do not involve any open‑market share purchases or sales.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Waldron Jason

Role SVP & CAO

Type	Security	Shares	Price	Value
Grant/Award	Performance Share Units A	41,052	$0.00	--
Grant/Award	Performance Share Units C	41,052	$0.00	--
Grant/Award	Restricted Share Units A	32,842	$0.00	--
Grant/Award	Restricted Share Units C	32,842	$0.00	--
Grant/Award	Restricted Share Units A	61,578	$0.00	--
Grant/Award	Restricted Share Units C	61,578	$0.00	--

Holdings After Transaction: Performance Share Units A — 41,052 shares (Direct); Performance Share Units C — 41,052 shares (Direct); Restricted Share Units A — 32,842 shares (Direct); Restricted Share Units C — 32,842 shares (Direct)

Footnotes (1)

1. Each Performance Share Unit ("PSU") represents a contingent right to receive one share of Issuer's Class A common shares or Class C common shares, as the case may be. PSUs are subject to performance conditions based upon achievement of stock price hurdles over a three-year period from January 1, 2026 to December 31, 2028 with "cliff" vesting on February 15, 2029, assuming continued employment. PSUs will vest from 0-100 percent, with an opportunity to earn more if there is overperformance, capped at 200 percent. Each Restricted Share Unit ("RSU") represents a right to receive one share of Issuer's Class A common shares or Class C common shares, as the case may be. The RSUs vest in three equal annual installments commencing on May 1, 2027. The RSUs vest in two equal installments, with 50% vesting on April 1, 2029 and the remaining 50% vesting on October 1, 2029, subject to the Reporting Person's continued service through each applicable vesting date.

Key Figures

Performance Share Units A grant: 41,052 units Performance Share Units C grant: 41,052 units Restricted Share Units A grant: 32,842 units +5 more

8 metrics

Performance Share Units A grant 41,052 units PSUs linked to Class A common shares granted on March 26, 2026

Performance Share Units C grant 41,052 units PSUs linked to Class C common shares granted on March 26, 2026

Restricted Share Units A grant 32,842 units RSUs linked to Class A common shares granted on March 26, 2026

Restricted Share Units C grant 32,842 units RSUs linked to Class C common shares granted on March 26, 2026

Additional RSUs A grant 61,578 units RSUs linked to Class A common shares granted on March 26, 2026

Additional RSUs C grant 61,578 units RSUs linked to Class C common shares granted on March 26, 2026

PSU performance period Jan 1, 2026–Dec 31, 2028 Period over which stock price hurdles are measured

PSU cliff vest date February 15, 2029 Cliff vesting date assuming continued employment

Key Terms

Performance Share Unit, Restricted Share Unit, cliff vesting, stock price hurdles

4 terms

Performance Share Unit financial

"Each Performance Share Unit ("PSU") represents a contingent right to receive one share"

A performance share unit (PSU) is a form of executive or employee pay that promises shares (or the cash value of shares) only if the company meets specific performance targets over a set period. Think of it like a bonus cheque that only arrives if the company hits agreed goals — it aligns managers’ rewards with business results and signals to investors how leadership is being incentivized to grow value over time.

Restricted Share Unit financial

"Each Restricted Share Unit ("RSU") represents a right to receive one share"

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

cliff vesting financial

"with "cliff" vesting on February 15, 2029, assuming continued employment"

stock price hurdles financial

"subject to performance conditions based upon achievement of stock price hurdles over a three-year period"

"Stock price hurdles" are specific price levels that investors watch closely because reaching them can signal a potential change in the stock's future. Think of them like checkpoints in a video game; once the stock hits these levels, it might trigger new buying or selling activity, affecting whether the price goes up or down.

Form 4 Insider Transactions: What Each Field Means →

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^*

Waldron Jason

(Last) (First) (Middle)

1550 WEWATTA STREET, STE 1000

(Street)

DENVER COLORADO 80202

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CAO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Performance Share Units A	(1)	03/26/2026		A		41,052		(1)	(1)	Class A Common Shares	41,052	$0	41,052	D
Performance Share Units C	(1)	03/26/2026		A		41,052		(1)	(1)	Class C Common Shares	41,052	$0	41,052	D
Restricted Share Units A	(2)	03/26/2026		A		32,842		(3)	(3)	Class A Common Shares	32,842	(2)	32,842	D
Restricted Share Units C	(2)	03/26/2026		A		32,842		(3)	(3)	Class C Common Shares	32,842	(2)	32,842	D
Restricted Share Units A	(2)	03/26/2026		A		61,578		(4)	(4)	Class A Common Shares	61,578	(2)	61,578	D
Restricted Share Units C	(2)	03/26/2026		A		61,578		(4)	(4)	Class C Common Shares	61,578	(2)	61,578	D

Explanation of Responses:

1. Each Performance Share Unit ("PSU") represents a contingent right to receive one share of Issuer's Class A common shares or Class C common shares, as the case may be. PSUs are subject to performance conditions based upon achievement of stock price hurdles over a three-year period from January 1, 2026 to December 31, 2028 with "cliff" vesting on February 15, 2029, assuming continued employment. PSUs will vest from 0-100 percent, with an opportunity to earn more if there is overperformance, capped at 200 percent.

2. Each Restricted Share Unit ("RSU") represents a right to receive one share of Issuer's Class A common shares or Class C common shares, as the case may be.

3. The RSUs vest in three equal annual installments commencing on May 1, 2027.

4. The RSUs vest in two equal installments, with 50% vesting on April 1, 2029 and the remaining 50% vesting on October 1, 2029, subject to the Reporting Person's continued service through each applicable vesting date.

Remarks:

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

	/s/ Colton Lyons, Attorney-in-Fact	03/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did Liberty Global (LBTYA) report for Jason Waldron?

Liberty Global reported that SVP & CAO Jason Waldron received grants of performance share units and restricted share units. These equity awards are compensation-related and give him rights to future Class A and Class C shares, subject to vesting and performance conditions.

Were any Liberty Global (LBTYA) shares bought or sold on the market in this Form 4?

No open-market purchases or sales were reported. All Form 4 entries are coded as awards (code A), representing grants of performance share units and restricted share units rather than discretionary buying or selling of Liberty Global common shares.

How do the performance share units for Liberty Global (LBTYA) vest for Jason Waldron?

Each performance share unit represents a contingent right to one Class A or Class C share. Vesting depends on stock price hurdles over January 1, 2026 to December 31, 2028, with cliff vesting on February 15, 2029 and potential payout from 0% up to 200% based on performance.

What are the vesting schedules for the Liberty Global (LBTYA) restricted share units?

One restricted share unit grant vests in three equal annual installments starting May 1, 2027. A separate restricted share unit grant vests 50% on April 1, 2029 and 50% on October 1, 2029, conditioned on Jason Waldron’s continued service through each vesting date.

What types of Liberty Global (LBTYA) shares underlie these PSU and RSU awards?

Each performance share unit and restricted share unit corresponds to one Liberty Global Class A common share or one Class C common share, as specified for each award. The grants therefore provide potential future ownership in both classes of Liberty Global equity.