Liberty Global (LBTYA) EVP receives large RSU awards tied to performance

Rhea-AI Filing Summary

Liberty Global Ltd. executive Andrea Salvato, EVP and Chief Development Officer, reported the acquisition of equity awards in the form of restricted share units. On February 13, 2026, Salvato received 45,008 Restricted Share Units A and 44,584 Restricted Share Units C, each RSU representing one corresponding common share.

Footnotes explain that part of this award reflects previously granted Performance Share Units from March 27, 2024, which became earned based on stock price performance through year-end 2025 and converted into time-vesting RSUs. These RSUs, along with any additional PSUs earned based on year-end 2026 performance, are scheduled to vest in full on February 15, 2027, subject to meeting conditions and continued employment.

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

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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^*

Salvato Andrea

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Development Officer

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)
			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
Restricted Share Units A	(1)	02/13/2026		A		45,008(2)		(3)	(3)	Class A Common Shares	45,008	(1)	45,008	D
Restricted Share Units C	(1)	02/13/2026		A		44,584(2)		(3)	(3)	Class C Common Shares	44,584	(1)	44,584	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).
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FAQ

What did Liberty Global (LBTYA) executive Andrea Salvato report on this Form 4?

Andrea Salvato reported receiving grants of restricted share units in Liberty Global. The filing shows awards of RSUs tied to the company’s Class A and Class C shares, reflecting equity-based compensation rather than an open-market stock purchase or sale.

How many restricted share units did Andrea Salvato receive from Liberty Global (LBTYA)?

Andrea Salvato received 45,008 Restricted Share Units A and 44,584 Restricted Share Units C. Each RSU represents the right to receive one corresponding Liberty Global common share, providing potential future share ownership if the vesting conditions are met.

When do Andrea Salvato’s Liberty Global (LBTYA) RSUs vest?

The RSUs are scheduled to vest in full on February 15, 2027. Vesting depends on continued employment, and some units also depend on earlier performance conditions originally tied to Performance Share Units granted in March 2024.

How are Liberty Global (LBTYA) Performance Share Units linked to these RSUs?

Liberty Global granted Performance Share Units on March 27, 2024, earned based on stock price performance from May 10, 2024 to December 31, 2026. After meeting the 2025 performance condition, 50% converted into time-vesting RSUs, with remaining PSUs to be tested after 2026.

Did Andrea Salvato buy or sell Liberty Global (LBTYA) shares on the market?

The Form 4 shows award acquisitions, not open-market trades. Transactions are coded as grants of derivative securities (restricted share units) at a price of $0.00 per unit, reflecting equity compensation rather than cash purchases or public share sales.

What stock performance conditions affect Liberty Global (LBTYA) PSUs mentioned in this filing?

The Performance Share Units depend on achieving stock price hurdles measured as relative total shareholder return. Performance is tested at year-end 2025 and year-end 2026, determining how many PSUs are earned and then converted into RSUs vesting in February 2027.