Liberty Latin America (LILA) adjusts RSUs and SARs after special preferred dividend
Rhea-AI Filing Summary
BRACKEN CHARLES H R reported acquisition or exercise transactions in this Form 4 filing.
Liberty Latin America Ltd. reported that director Charles H. R. Bracken received 1,935 Restricted Share Units P, each representing one Series A Preference Share, created through anti-dilution adjustments tied to a special dividend of 0.10 Series A Preference Shares per common share. His existing fully vested share appreciation rights now cover 69,701 Class C shares at $14.56 and 33,902 Class A shares at $15.10, all adjusted under Rule 16b-3.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
BRACKEN CHARLES H R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Restricted Share Units P F1, F2, F3 | 1,935 | $0.00 | $0.00 |
| holding | Share Appreciation Rights A F4, F5 | -- | -- | -- |
| holding | Share Appreciation Rights C F4, F6 | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units P — 1,935 shares (Direct);
Share Appreciation Rights A — 33,902 shares (Direct);
Share Appreciation Rights C — 69,701 shares (Direct)
Footnotes (6)
- F1. Each Restricted Share Unit P ("RSU") represents a right to receive one share of the Issuer's Series A Preference Shares at settlement.
- F2. In connection with the Dividend (as defined in Remarks), all RSUs with respect to the Issuer's common stock ("Original RSUs") were adjusted pursuant to the anti-dilution provisions of the incentive plans under which the RSU awards held by the reporting person were granted. Each holder of an Original RSU was entitled to receive an RSU with respect to a number of Preferred Shares equal to 0.10 multiplied by the number of shares of common stock underlying the Original RSU, subject to the same terms and conditions as the Original RSU. These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3.
- F3. The RSUs vest in three equal annual installments on March 15, 2027.
- F4. The derivative security is fully vested.
- F5. This share appreciation right award ("SAR") was previously reported as a SAR relating to 23,708 shares of the Issuer's common stock at a base price of $21.58 and was adjusted as a result of the Dividend. In connection with the Dividend, all SARs held by the reporting person with respect to the Issuer's common stock were adjusted pursuant to the anti-dilution provisions of the incentive plan under which such award was granted, such that the number of shares subject to, and the base price of, such SAR were adjusted. These adjustments were approved by the compensation committee of the Issuer's board of directors pursuant to Rule 16b-3.
- F6. This SAR was previously reported as a SAR relating to 47,416 shares of the Issuer's common stock at a base price of $21.39 and was adjusted as a result of the Dividend. In connection with the Dividend, all SARs held by the reporting person with respect to the Issuer's common stock were adjusted pursuant to the anti-dilution provisions of the incentive plan under which such award was granted, such that the number of shares subject to, and the base price of, such SAR were adjusted. These adjustments were approved by the compensation committee of the Issuer's board of directors pursuant to Rule 16b-3.
Key Figures
Restricted Share Units P: 1,935 units
Special dividend rate: 0.10 shares
Series A liquidation price: $25 per share
+5 more
8 metrics
Restricted Share Units P
1,935 units
RSUs on Series A Preference Shares acquired by Charles H. R. Bracken
Special dividend rate
0.10 shares
Series A Preference Shares per outstanding common share
Series A liquidation price
$25 per share
Initial liquidation price of Series A Preference Shares
Series A coupon
9.0%
Fixed Rate Cumulative Perpetual Redeemable Series A Preference Shares
SARs on Class C
69,701 shares at $14.56
Underlying Class C Common Shares and exercise price, expiring 2028-01-02
SARs on Class A
33,902 shares at $15.10
Underlying Class A Common Shares and exercise price, expiring 2028-01-02
RSU vesting date
March 15, 2027
RSUs vest in three equal annual installments on this date
Record date time
5:00 p.m.
New York City time on June 1, 2026 for special dividend record holders
Key Terms
Restricted Share Units, Share Appreciation Rights, anti-dilution provisions, Fixed Rate Cumulative Perpetual Redeemable Series A Preferred Shares, +1 more
5 terms
anti-dilution provisions financial
"all RSUs with respect to the Issuer's common stock were adjusted pursuant to the anti-dilution provisions"
Anti-dilution provisions are contract terms that protect an investor’s percentage ownership when a company issues new shares at a lower price than the investor originally paid. They work like an automatic recalculation of split pieces when a pie gets cut into more slices, preserving the investor’s relative stake and reducing unexpected losses of ownership and voting power, which matters because it affects potential control, future returns, and valuation of an investment.
Rule 16b-3 regulatory
"These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What RSU changes did Liberty Latin America (LILA) report for Charles Bracken?
Liberty Latin America reported that Charles H. R. Bracken received 1,935 Restricted Share Units P, each for one Series A Preference Share. These RSUs were created via anti-dilution adjustments to existing RSUs following a special dividend and will vest in three equal annual installments on March 15, 2027.
How is Liberty Latin America (LILA) structuring its special Series A preferred dividend?
Liberty Latin America declared a special dividend of 0.10 Series A Preference Shares per outstanding common share. The Series A Preference Shares carry a 9.0% fixed rate and an initial liquidation price of $25 per share, payable June 16, 2026 to holders of record on June 1, 2026.
What was the impact of the special dividend on Liberty Latin America (LILA) RSUs and SARs?
In connection with the special dividend, all RSUs and SARs tied to Liberty Latin America common shares were adjusted under anti-dilution provisions. Holders received RSUs on Preferred Shares equal to 0.10 times original RSU shares, and SAR share counts and base prices were recalibrated under Rule 16b-3 approvals.