[Form 4] Liberty Global Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Vir Biotechnology, Inc. (VIR) – Form 144 filing overview

The filing discloses a proposed secondary sale of 66,000 common shares of Vir Biotechnology under Rule 144. The shares were originally acquired on 17 Jan 2017 as pre-IPO stock and are held in the name of an undisclosed insider (the form does not specify the individual or relationship to the issuer). Morgan Stanley Smith Barney LLC, Executive Financial Services, is listed as the broker for the transaction.

• Shares to be sold: 66,000
• Aggregate market value: US $332,640
• Planned sale date: 1 Jul 2025
• Total VIR shares outstanding: 138,238,003
• Percent of shares outstanding: ~0.05 % (66,000 ÷ 138,238,003)
• Exchange: NASDAQ

No sales by the filer have occurred within the prior three months, and the securities were not purchased with non-cash consideration according to the disclosure. The seller certifies awareness of no undisclosed material adverse information and acknowledges potential criminal liability for misstatements.

Given the modest size relative to VIR’s float and the absence of multiple tranches or recent insider selling, this notice is unlikely to have a material impact on the company’s capital structure or market dynamics. However, investors may monitor for additional filings that could signal a broader disposition program.

Positive

• Minimal dilution/float impact: 66,000 shares represent only ~0.05 % of the 138.2 million shares outstanding.
• Regulatory transparency: Advance notice under Rule 144 provides investors early visibility into possible insider transactions.

Negative

• Insider selling signal: Any sale by insiders can be perceived negatively, even if relatively small.
• Limited disclosure: The form omits the seller’s identity and relationship to the company, reducing clarity for investors.

Insights

Equity Research Analyst

TL;DR: Routine insider sale of 66k shares (~0.05 % of float); immaterial market impact expected.

The Form 144 indicates a prospective sale worth roughly US $333k, a fraction of Vir Biotechnology’s >138 million outstanding shares. Rule 144 notices are common for pre-IPO holders unlocking legacy shares. The filing contains no information on the seller’s role, which tempers interpretation of sentiment—an executive sale can differ from an early investor’s liquidity event. Absence of recent sales and the one-off nature suggest the transaction is housekeeping rather than a signal on fundamentals. I view the impact on share price and liquidity as negligible, though sustained selling would warrant closer scrutiny.

Corporate Governance Specialist

TL;DR: Governance neutral; disclosure meets Rule 144, but anonymity limits insight into insider intentions.

From a governance perspective, the filer complies with mandatory pre-sale disclosure, enhancing transparency. Yet, the lack of the individual’s identity or relationship to the issuer limits stakeholders’ ability to evaluate potential signaling effects. Since the form affirms no undisclosed adverse information and no 10b5-1 plan is noted, the transaction appears opportunistic rather than structured. Overall governance impact is neutral, but investors should watch future filings to see if key executives begin to reduce holdings materially.

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^*

Green Richard R

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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
Class A Common Shares	06/30/2025		A		1,522(1)	A	$10.01	9,890	D
Class C Common Shares	06/30/2025		A		1,522(1)	A	$10.31	20,702	D

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
Class A Share Fund Units	(2)	06/30/2025		A		507		(2)	(2)	Class A Common Shares	507	(3)	2,040	D
Class C Share Fund Units	(2)	06/30/2025		A		507		(2)	(2)	Class C Common Shares	507	(3)	4,702	D

Explanation of Responses:

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 June 30, 2025.

2. 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.

3. 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 June 30, 2025, with the value of any fractional shares deferred in cash.

Remarks:

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

	/s/ Cory Smith, Attorney-in-Fact	07/02/2025
	** 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.

FAQ

How many Vir Biotechnology (VIR) shares are being sold under this Form 144?

66,000 common shares are proposed for sale.

What is the dollar value of the proposed Vir Biotechnology share sale?

The aggregate market value is US $332,640 as stated in the filing.

When is the planned sale date for the VIR shares?

The approximate sale date disclosed is 1 July 2025.

How does the 66,000-share sale compare to Vir Biotechnology's total shares outstanding?

It represents about 0.05 % of the 138,238,003 shares outstanding.

Which broker is handling the VIR share sale disclosed in Form 144?

The broker is Morgan Stanley Smith Barney LLC, Executive Financial Services.

Were any VIR shares sold by this filer in the past three months?

No. The filing states "Nothing to Report" for past three-month sales.