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Liberty Global (LBTYA) CEO gets bonus shares and RSUs, covers taxes in stock

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Liberty Global Ltd. President & CEO Michael T. Fries received equity compensation and had shares withheld for taxes. He was granted 126,631 Class A common shares as part of the company’s 2025 Annual Performance Award, with 60,614 shares delivered back to cover tax obligations. Following these grants, he directly holds 1,143,277 Class A shares and 15,828 Restricted Share Units, each RSU representing one Class A or Class C share. The filing also shows 8,135 Class A shares held indirectly through a 401(k) plan. The 15,828 RSUs are tied to 12.5% of the bonus shares and will vest on March 1, 2027 if he does not sell or otherwise dispose of the underlying bonus shares before that date.

Positive

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Insider FRIES MICHAEL T
Role President & CEO
Type Security Shares Price Value
Grant/Award Restricted Share Units A 15,828 $0.00 --
Grant/Award Class A Common Shares 126,631 $0.00 --
Tax Withholding Class A Common Shares 60,614 $12.54 $760K
holding Class A Common Shares -- -- --
Holdings After Transaction: Restricted Share Units A — 15,828 shares (Direct); Class A Common Shares — 1,143,277 shares (Direct); Class A Common Shares — 8,135 shares (Indirect, By 401(k) Plan)
Footnotes (1)
  1. Class A common shares of the Issuer received by the Reporting Person pursuant to the Issuer's 2025 Annual Performance Award for employees (which was paid in part in shares), subject to applicable tax withholding. The Reporting Person received 6,158 shares contributed by Issuer under its 401(k) Plan as of March 6, 2026. 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. Based on the Reporting Person's receipt of shares as part of the 2025 Annual Performance Award described in footnote 1, the Reporting Person also received RSUs equal to 12.5% of such shares received pursuant to the shareholding incentive program of the 2025 Annual Performance Award program. These RSUs will vest in full on March 1, 2027, provided that the Reporting Person does not sell, transfer or otherwise dispose of the Bonus Shares through such date.
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*
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)
03/06/2026
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 03/06/2026 A 126,631(1) A (1) 1,143,277 D
Class A Common Shares 03/06/2026 F 60,614 D $12.54 1,082,663 D
Class A Common Shares 8,135(2) 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
Restricted Share Units A (3) 03/06/2026 A 15,828 (4) (4) Class A Common Shares 15,828 (3) 15,828 D
Explanation of Responses:
1. Class A common shares of the Issuer received by the Reporting Person pursuant to the Issuer's 2025 Annual Performance Award for employees (which was paid in part in shares), subject to applicable tax withholding.
2. The Reporting Person received 6,158 shares contributed by Issuer under its 401(k) Plan as of March 6, 2026.
3. 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.
4. Based on the Reporting Person's receipt of shares as part of the 2025 Annual Performance Award described in footnote 1, the Reporting Person also received RSUs equal to 12.5% of such shares received pursuant to the shareholding incentive program of the 2025 Annual Performance Award program. These RSUs will vest in full on March 1, 2027, provided that the Reporting Person does not sell, transfer or otherwise dispose of the Bonus Shares through such date.
Remarks:
The trading symbols for the Issuer's classes of common shares are LBTYA, LBTYB, and LBTYK.
/s/ Cory Smith, Attorney-in-Fact 03/10/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Liberty Global (LBTYA) CEO Michael T. Fries receive?

Michael T. Fries received 126,631 Class A common shares and 15,828 Restricted Share Units as part of Liberty Global’s 2025 Annual Performance Award. The RSUs equal 12.5% of the awarded shares and represent rights to receive Class A or Class C shares.

How many Liberty Global (LBTYA) shares were withheld for Michael T. Fries’s taxes?

60,614 Class A common shares were withheld to satisfy tax obligations linked to Michael T. Fries’s 2025 Annual Performance Award. This tax-withholding disposition is not an open-market sale; it reflects shares delivered back to the issuer instead of paying cash taxes.

What are the vesting terms of Michael T. Fries’s new RSUs at Liberty Global (LBTYA)?

The 15,828 Restricted Share Units will vest in full on March 1, 2027. Vesting requires that Fries not sell, transfer, or otherwise dispose of the related bonus shares received under the 2025 Annual Performance Award shareholding incentive program before that date.

How many Liberty Global (LBTYA) shares does Michael T. Fries own after these transactions?

After these transactions, Michael T. Fries directly holds 1,143,277 Class A common shares and 15,828 RSUs. He also has 8,135 Class A shares held indirectly through a 401(k) plan, reflecting both direct and retirement-plan-related ownership interests.

What does the Form 4 tax-withholding entry mean for Liberty Global (LBTYA) stock?

The tax-withholding entry reflects 60,614 shares delivered back to cover taxes, not a market sale. It is a routine mechanism when equity awards are paid in shares, and it does not by itself indicate a discretionary decision to sell stock in the open market.

How are Michael T. Fries’s RSUs at Liberty Global (LBTYA) structured?

Each Restricted Share Unit represents a right to receive one Class A or Class C common share. These RSUs were granted as 12.5% of the bonus shares and are part of the 2025 Annual Performance Award shareholding incentive program, subject to continued holding of the bonus shares.