How are Liberty Global (LBTYA) performance share units linked to these RSU grants?

Rodriguez previously received performance share units on March 27, 2024, tied to stock price hurdles over three years. Based on relative total shareholder return through year-end 2025, 50% of those PSUs were earned and converted into time-vesting RSUs that will vest on February 15, 2027.

Liberty Global (LBTYA) CTO receives RSUs after PSU performance

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Liberty Global Ltd. Executive Vice President and Chief Technology Officer Enrique Rodriguez reported awards of restricted share units (RSUs) linked to prior performance share units and new time-based grants. He acquired 46,883 Class A RSUs and 46,442 Class C RSUs at no purchase price.

Half of a March 27, 2024 performance share unit grant was earned based on stock price performance through year-end 2025 and converted into time-vesting RSUs. These RSUs, along with the newly granted RSUs, will vest in full on February 15, 2027, assuming performance and continued employment conditions are satisfied.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Rodriguez Enrique

Role EVP, Chief Technology Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Units A	46,883	$0.00	--
Grant/Award	Restricted Share Units C	46,442	$0.00	--

Holdings After Transaction: Restricted Share Units A — 46,883 shares (Direct); Restricted Share Units C — 46,442 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 - 04:20 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^*

Rodriguez Enrique

(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, Chief Technology 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)
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		46,883⁽²⁾		⁽³⁾	⁽³⁾	Class A Common Shares	46,883	⁽¹⁾	46,883	D
Restricted Share Units C	⁽¹⁾	02/13/2026		A		46,442⁽²⁾		⁽³⁾	⁽³⁾	Class C Common Shares	46,442	⁽¹⁾	46,442	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 transactions did Liberty Global (LBTYA) report for Enrique Rodriguez?

Liberty Global reported that Enrique Rodriguez received awards of restricted share units. He acquired 46,883 Class A RSUs and 46,442 Class C RSUs at no purchase price, reflecting equity-based compensation rather than an open-market stock purchase or sale.

What are the vesting terms of Enrique Rodriguez’s Liberty Global (LBTYA) RSUs?

All the reported RSUs for Enrique Rodriguez will vest in full on February 15, 2027. Vesting depends on continued employment, and part of the award also depended on Liberty Global’s stock performance through year-end 2025 under previously granted performance share units.

What performance period applies to Enrique Rodriguez’s remaining Liberty Global (LBTYA) PSUs?

The remaining performance share units are tested based on Liberty Global’s performance at year-end 2026. If the company meets the specified performance conditions, these PSUs will also vest on February 15, 2027, aligning long-term incentives with multi-year stock performance.

Does Enrique Rodriguez’s Form 4 for Liberty Global (LBTYA) show any stock sales?

The Form 4 reflects only equity awards classified as acquisitions of restricted share units. There are no reported open-market stock sales or purchases; the transactions represent grants of compensation that may settle in shares if vesting conditions are satisfied in the future.