How are Bryan H. Hall’s Liberty Global (LBTYA) Performance Share Units structured?

Performance Share Units granted March 27, 2024 are earned based on stock price hurdles over May 10, 2024 to December 31, 2026, using relative total shareholder return. Performance is tested at year-end 2025 and year-end 2026 to determine how many PSUs convert into RSUs.

Liberty Global EVP granted new RSU awards

Liberty Global Ltd. executive Bryan H. Hall, EVP, General Counsel & Secretary, received two equity awards in the form of restricted share units.

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Form Type

Rhea-AI Filing Summary

Liberty Global Ltd. executive Bryan H. Hall, EVP, General Counsel & Secretary, received two equity awards in the form of restricted share units. He acquired 31,880 Restricted Share Units for Class A common shares and 31,580 Restricted Share Units for Class C common shares, each representing the right to receive one underlying share.

The awards stem partly from Performance Share Units granted on March 27, 2024, which are earned based on stock price hurdles and relative total shareholder return from May 10, 2024 to December 31, 2026. As of year-end 2025 performance, 50% of those PSUs were earned and converted into time-vesting RSUs, and these, along with the new RSUs, will vest in full on February 15, 2027, assuming performance conditions (where applicable) and continued employment are satisfied.

Insider Trade Summary

Grant/Award: 63,460 shares

Grant/Award 2 txns

Insider HALL BRYAN H

Role EVP, Gen Counsel & Secretary

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units A	31,880	$0.00	$0.00
Grant/Award	Restricted Share Units C	31,580	$0.00	$0.00

Holdings After Transaction: Restricted Share Units A — 31,880 contracts (Direct); Restricted Share Units C — 31,580 contracts (Direct)

Footnotes (3)

F1. 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.
F2. The reporting person was granted Performance Share Units (PSUs) on March 27, 2024, which are earned upon satisfaction of performance conditions based on achievement of stock price hurdles over a three-year period from May 10, 2024, to December 31, 2026. The PSUs vest on February 15, 2027, assuming the performance conditions are met. Under their terms, the performance conditions are tested at year end 2025 and at year end 2026. As a result of the Issuer's performance against a relative total shareholder return as of year end 2025, 50% of these PSUs were earned against that performance condition and therefore converted into time-vesting RSUs. These RSUs will vest on February 15, 2027, assuming continued employment. The remaining PSUs will be tested at year end 2026 and if the performance conditions are met, will also vest on February 15, 2027.
F3. The RSUs will vest in full on February 15, 2027.

FAQ

What insider equity awards did Liberty Global (LBTYA) report for Bryan H. Hall?

Bryan H. Hall received two restricted share unit grants: 31,880 RSUs tied to Class A common shares and 31,580 RSUs tied to Class C common shares. Each RSU represents a right to receive one corresponding Liberty Global common share.

When do Bryan H. Hall’s Liberty Global (LBTYA) RSUs and PSUs vest?

The RSUs referenced in the filing will vest in full on February 15, 2027. PSUs earned based on performance convert into time-vesting RSUs that are also scheduled to vest on February 15, 2027, assuming conditions and continued employment are satisfied.

What triggered the conversion of some Liberty Global (LBTYA) PSUs into RSUs?

As of year-end 2025, Liberty Global’s performance against a relative total shareholder return condition caused 50% of the March 27, 2024 PSUs to be earned. Those earned PSUs converted into time-vesting RSUs that will vest on February 15, 2027, subject to continued employment.

What performance period applies to Liberty Global (LBTYA) PSUs granted to Bryan H. Hall?

The Performance Share Units granted on March 27, 2024 use a three-year performance period running from May 10, 2024 to December 31, 2026. Performance conditions are tested at year-end 2025 and again at year-end 2026 to determine PSU earn-out levels.

Do Liberty Global (LBTYA) RSUs in this Form 4 involve any purchase price?

No purchase price is indicated for these RSU grants. The transactions are classified as awards or other acquisitions, with each RSU representing a right to receive one share of Liberty Global Class A or Class C common shares upon vesting, subject to the stated conditions.

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Accepted by SEC EDGAR 02/18/2026 - 04:21 PM

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^*

HALL BRYAN H

(Last)

(First)

(Middle)

1550 WEWATTA STREET, STE 1000

(Street)

DENVER

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Gen Counsel & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units A	⁽¹⁾	02/13/2026		A		31,880⁽²⁾		⁽³⁾	⁽³⁾	Class A Common Shares	31,880	⁽¹⁾	31,880	D
Restricted Share Units C	⁽¹⁾	02/13/2026		A		31,580⁽²⁾		⁽³⁾	⁽³⁾	Class C Common Shares	31,580	⁽¹⁾	31,580	D

Explanation of Responses:

1. 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.

2. The reporting person was granted Performance Share Units (PSUs) on March 27, 2024, which are earned upon satisfaction of performance conditions based on achievement of stock price hurdles over a three-year period from May 10, 2024, to December 31, 2026. The PSUs vest on February 15, 2027, assuming the performance conditions are met. Under their terms, the performance conditions are tested at year end 2025 and at year end 2026. As a result of the Issuer's performance against a relative total shareholder return as of year end 2025, 50% of these PSUs were earned against that performance condition and therefore converted into time-vesting RSUs. These RSUs will vest on February 15, 2027, assuming continued employment. The remaining PSUs will be tested at year end 2026 and if the performance conditions are met, will also vest on February 15, 2027.

3. The RSUs will vest in full on February 15, 2027.

Remarks:

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

	/s/ Bryan H. Hall	02/18/2026
	** 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