What do the Restricted Share Units granted at Liberty Global (LBTYA) represent?

Each Restricted Share Unit represents a right to receive one Liberty Global Class A or Class C common share, as applicable. The units are not cash transactions; instead, they convert into common shares if vesting conditions, including continued employment, are satisfied.

What performance period applies to Liberty Global (LBTYA) Performance Share Units mentioned in this filing?

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 is tested at year-end 2025 and year-end 2026 using a relative total shareholder return measure against defined hurdles.

Liberty Global (LBTYA) SVP Jason Waldron receives new RSU grants

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Liberty Global Ltd. SVP & CAO Jason Waldron reported the acquisition of 15,003 Restricted Share Units A and 14,861 Restricted Share Units C on February 13, 2026 at a stated price of $0.00 per unit. Each RSU represents a right to receive one Class A or Class C common share, respectively.

Footnotes explain these awards relate to Performance Share Units granted on March 27, 2024, which are earned based on stock price hurdles over a period from May 10, 2024 to December 31, 2026. As of year-end 2025, 50% of those PSUs were earned based on relative total shareholder return and converted into time-vesting RSUs that, along with the remaining PSUs if performance conditions are met, will vest on February 15, 2027 assuming continued employment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Waldron Jason

Role SVP & CAO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units A	15,003	$0.00	--
Grant/Award	Restricted Share Units C	14,861	$0.00	--

Holdings After Transaction: Restricted Share Units A — 15,003 shares (Direct); Restricted Share Units C — 14,861 shares (Direct)

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

Form 4 Insider Transactions: What Each Field Means →

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^*

Waldron Jason

(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)
	SVP & CAO

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		15,003⁽²⁾		⁽³⁾	⁽³⁾	Class A Common Shares	15,003	⁽¹⁾	15,003	D
Restricted Share Units C	⁽¹⁾	02/13/2026		A		14,861⁽²⁾		⁽³⁾	⁽³⁾	Class C Common Shares	14,861	⁽¹⁾	14,861	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/ Cory Smith, Attorney-in-Fact	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

FAQ

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

Liberty Global reported that SVP & CAO Jason Waldron acquired 15,003 Restricted Share Units A and 14,861 Restricted Share Units C on February 13, 2026. These awards were granted at a stated price of $0.00 per unit and represent rights to receive common shares.

How are Jason Waldron’s Liberty Global (LBTYA) RSUs linked to performance conditions?

The RSUs stem from Performance Share Units granted March 27, 2024, tied to stock price hurdles over May 10, 2024 to December 31, 2026. Based on relative total shareholder return at year-end 2025, 50% of the PSUs were earned and converted into time-vesting RSUs for Waldron.

When do the Liberty Global (LBTYA) RSUs granted to Jason Waldron vest?

The RSUs are scheduled to vest in full on February 15, 2027, assuming continued employment. Remaining Performance Share Units will be tested again at year-end 2026, and if conditions are met, those too will vest on February 15, 2027 under the award terms.