Liberty Latin America (LILA) SVP Winter gets major RSU and SAR awards

Rhea-AI Filing Summary

Liberty Latin America SVP, CLO and Secretary John M. Winter reported a series of stock-based compensation transactions. On March 13, 2026, he received grants of 51,613 Restricted Share Units tied to Class A shares and 103,226 Restricted Share Units tied to Class C shares, plus 97,561 Class A Share Appreciation Rights at an exercise price of $7.58 and 195,122 Class C Share Appreciation Rights at $7.77. These awards vest in three equal annual installments on March 15 of 2027, 2028 and 2029.

On March 15, 2026, previously granted Restricted Share Units vested and were converted into 172,561 Class A and Class C common shares through derivative exercises. To cover tax obligations, 89,321 Class A and Class C shares were withheld at prices of $7.58 and $7.77. After these transactions, Winter directly holds 137,188 Class A common shares and 447,565 Class C common shares, along with indirect holdings of 176 Class C shares through an IRA and 18,147 Class C shares through a 401(k) plan.

Insights

Equity compensation analyst

Routine equity grants and vesting with tax withholding; no open-market trades disclosed.

The filing shows John M. Winter receiving sizeable new Restricted Share Unit and Share Appreciation Right awards in both Class A and Class C shares of Liberty Latin America Ltd.. These awards vest in three equal annual installments from 2027 through 2029, indicating a long-term incentive structure.

On March 15, 2026, earlier RSU grants vested and were settled into 172,561 common shares, while 89,321 shares were withheld at prices of $7.58 and $7.77 to satisfy tax liabilities. No open‑market purchases or sales are reported, so the net effect is an increase in his equity exposure, which remains subject to future vesting and share‑price performance.

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
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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^*

WINTER JOHN M

(Last) (First) (Middle)

1550 WEWATTA STREET

SUITE 800

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Liberty Latin America Ltd. [ LILA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CLO AND SECRETARY

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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
Class A Common Shares	03/15/2026		M		16,583	A	(1)	126,038	D
Class A Common Shares	03/15/2026		F		8,582	D	$7.58	117,456	D
Class A Common Shares	03/15/2026		M		20,997	A	(1)	138,453	D
Class A Common Shares	03/15/2026		F		10,886	D	$7.58	127,567	D
Class A Common Shares	03/15/2026		M		19,940	A	(1)	147,507	D
Class A Common Shares	03/15/2026		F		10,319	D	$7.58	137,188	D
Class C Common Shares	03/15/2026		M		33,167	A	(1)	425,225	D
Class C Common Shares	03/15/2026		F		17,164	D	$7.77	408,061	D
Class C Common Shares	03/15/2026		M		41,994	A	(1)	450,055	D
Class C Common Shares	03/15/2026		F		21,732	D	$7.77	428,323	D
Class C Common Shares	03/15/2026		M		39,880	A	(1)	468,203	D
Class C Common Shares	03/15/2026		F		20,638	D	$7.77	447,565	D
Class C Common Shares								176	I	By IRA
Class C Common Shares								18,147	I	By 401(k) Plan

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)	03/13/2026		A		51,613		(2)	(2)	Class A Common Shares	51,613	(1)	51,613	D
Restricted Share Units C	(1)	03/13/2026		A		103,226		(2)	(2)	Class C Common Shares	103,226	(1)	103,226	D
Share Appreciation Rights A	$7.58	03/13/2026		A		97,561		(3)	03/13/2036	Class A Common Shares	97,561	$0	97,561	D
Share Appreciation Rights C	$7.77	03/13/2026		A		195,122		(3)	03/13/2036	Class C Common Shares	195,122	$0	195,122	D
Restricted Share Units A	(1)	03/15/2026		M			16,583	(4)	(4)	Class A Common Shares	16,583	$0	0	D
Restricted Share Units C	(1)	03/15/2026		M			33,167	(4)	(4)	Class C Common Shares	33,167	$0	0	D
Restricted Share Units A	(1)	03/15/2026		M			20,997	(5)	(5)	Class A Common Shares	20,997	$0	20,997	D
Restricted Share Units C	(1)	03/15/2026		M			41,994	(5)	(5)	Class C Common Shares	41,994	$0	41,994	D
Restricted Share Units A	(1)	03/15/2026		M			19,940	(6)	(6)	Class A Common Shares	19,940	$0	39,878	D
Restricted Share Units C	(1)	03/15/2026		M			39,880	(6)	(6)	Class C Common Shares	39,880	$0	79,756	D

Explanation of Responses:

1. Each Restricted Share Unit represents a right to receive one share of the Issuer's Class A common shares or Class C common shares, as the case may be, at settlement.

2. The RSUs vest in three equal annual installments on March 15 of 2027, 2028 and 2029.

3. The Share Appreciation Rights vest in three equal annual installments on March 15 of 2027, 2028 and 2029.

4. The RSUs vest in three equal annual installments on March 15 of 2024, 2025 and 2026.

5. The RSUs vest in three equal annual installments on March 15 of 2025, 2026 and 2027.

6. The RSUs vest in three equal annual installments on March 15 of 2026, 2027 and 2028.

Remarks:

The trading symbols for the Issuer's classes of common shares are LILA, LILAB, and LILAK.

	/s/ John M. Winter	03/17/2026
	** 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.
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FAQ

What equity awards did Liberty Latin America (LILA) grant to John M. Winter?

John M. Winter received 51,613 Restricted Share Units linked to Class A shares, 103,226 Restricted Share Units linked to Class C shares, 97,561 Class A Share Appreciation Rights at $7.58, and 195,122 Class C Share Appreciation Rights at $7.77, all vesting over three years starting March 15, 2027.

How many Liberty Latin America (LILA) shares did John M. Winter receive from RSU vesting?

On March 15, 2026, previously granted Restricted Share Units vested into 172,561 Class A and Class C common shares. These shares reflect the settlement of long-term equity awards rather than open-market purchases, increasing his direct ownership while still subject to market risk.

Why were some Liberty Latin America (LILA) shares disposed of in John M. Winter’s Form 4?

The Form 4 shows 89,321 Class A and Class C shares treated as dispositions with code F. These shares were withheld at prices of $7.58 and $7.77 to cover tax liabilities arising from RSU vesting, not sold in open-market transactions.

What are John M. Winter’s Liberty Latin America (LILA) share holdings after these transactions?

Following the reported transactions, John M. Winter directly holds 137,188 Class A common shares and 447,565 Class C common shares. He also has indirect holdings of 176 Class C shares through an IRA and 18,147 Class C shares through a 401(k) plan.

How do the new Share Appreciation Rights for Liberty Latin America (LILA) work?

The Share Appreciation Rights give John M. Winter upside linked to share price gains above exercise prices of $7.58 for Class A and $7.77 for Class C. They vest in three equal installments on March 15 of 2027, 2028 and 2029, encouraging long-term performance alignment.

Are John M. Winter’s Liberty Latin America (LILA) transactions open-market buys or sales?

The filing records derivative exercises and tax-withholding dispositions only. RSUs converted into common shares, and some shares were withheld to pay taxes. It does not show any open-market purchases or sales of Liberty Latin America common shares by John M. Winter.