Insider Filing: Richard R. Green Receives Equity Under 2023 Incentive Plan
Rhea-AI Filing Summary
Richard R. Green, a director of Liberty Global Ltd. (symbols include LBTYA), acquired shares on 09/30/2025 as part of director compensation. He received 1,332 Class A common shares at $11.46 and 1,332 Class C common shares at $11.75 under the Liberty Global 2023 Incentive Plan to satisfy the equity portion of his director fees. After the transaction he beneficially owned 11,222 Class A shares and 22,034 Class C shares.
He also received 444 Class A share fund units and 444 Class C share fund units that represent economic equivalents payable in shares under the Deferred Compensation Plan, corresponding to 444 underlying Class A shares (reported beneficial ownership 2,484) and 444 underlying Class C shares (reported beneficial ownership 5,146). The Form 4 was signed on 10/01/2025 by an attorney-in-fact.
Positive
- Equity compensation issued under the Liberty Global 2023 Incentive Plan, aligning the director's economic interests with shareholders
- Use of Deferred Compensation Plan to defer a portion of fees into share fund units, providing clear disclosure of future share settlement
Negative
- None.
Insights
TL;DR: Routine director compensation issued as equity; modest share additions, no change to control or material dilution.
The reported transactions are compensatory equity issued under the 2023 Incentive Plan and Deferred Compensation Plan for director fees. Transaction sizes (1,332 shares per class) are small relative to a public float and are reported at market-based conversion prices of $11.46 and $11.75. These grants align the director's interests with shareholders but do not indicate cash transfers or financing activity. No derivative exercises or dispositions were reported that would materially affect cap structure.
TL;DR: Standard governance practice: equity-based director compensation with deferred units; disclosure complies with Section 16 reporting.
The filings state the equity was issued as the equity portion of director fees and certain amounts were deferred into share fund units payable in shares. This structure is common for aligning directors with shareholder outcomes while permitting deferred settlement. The Form 4 discloses both immediate share acquisitions and deferred economic equivalents, with clear ownership counts after the transaction. No unusual vesting or related-party arrangements are disclosed.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Share Fund Units | 444 | $0.00 | -- |
| Grant/Award | Class C Share Fund Units | 444 | $0.00 | -- |
| Grant/Award | Class A Common Shares | 1,332 | $11.46 | $15K |
| Grant/Award | Class C Common Shares | 1,332 | $11.75 | $16K |
Footnotes (1)
- Acquired in accordance with the terms of the Liberty Global 2023 Incentive Plan for the equity portion of the fees paid to the Reporting Person for his services as a director. The number of shares was determined using the closing market price of the applicable class of common shares on September 30, 2025. The share fund units represent the economic equivalent of one share of the corresponding class of the Issuer's common shares. The share fund units confer no voting or other rights of stock ownership. The share fund units will be payable, in shares of the corresponding class of the Issuer's common shares, in accordance with the Deferred Compensation Plan. The share fund units represent the deferral of shares for a portion of the fees paid to the Reporting Person for his services as a director. The number of share fund units acquired is based on the closing prices of the Class A and Class C common shares on September 30, 2025, with the value of any fractional shares deferred in cash.
