Goldman Sachs trades QVC Group shares in Form 4

QVC Group, Inc. saw mixed trading activity by entities affiliated with Goldman Sachs.

Rhea-AI Filing Summary

QVC Group, Inc. saw mixed trading activity by entities affiliated with Goldman Sachs. On April 20, 2026, Goldman Sachs, acting as a market maker, executed open-market sales and purchases of Series A Common Stock around $0.51–$0.55 per share, resulting in a small net purchase of 42 shares. The shares are held directly by Goldman Sachs and indirectly by The Goldman Sachs Group, Inc., which each report beneficial ownership only to the extent of their pecuniary interest. Any profit that could be recoverable under Section 16(b) from these trades will be remitted to QVC Group if applicable.

Insider Trade Summary

Net Buyer: 42 shares

Net Buy 6 txns

Insider GOLDMAN SACHS GROUP INC, GOLDMAN SACHS & CO. LLC

Role 10% Owner | 10% Owner

Bought 10,006 shs ($6K)

Sold 9,964 shs ($5K)

Type	Security	Shares	Price	Value
Purchase	Series A Common Stock	1	$0.51	$0.51
Purchase	Series A Common Stock	10,000	$0.55	$6K
Purchase	Series A Common Stock	1	$0.53	$0.53
Purchase	Series A Common Stock	4	$0.52	$2.08
Sale	Series A Common Stock	3,637	$0.51	$2K
Sale	Series A Common Stock	6,327	$0.51	$3K

Holdings After Transaction: Series A Common Stock — 10,314 shares (Indirect, See Footnotes)

Footnotes (4)

1. F1. This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. On April 17, 2026, the Reporting Persons experienced an increase in their beneficial ownership of QVC Group, Inc. (the "Issuer") to above 10% of the outstanding Series A Common Stock ("Common Stock").
2. F2. These transactions in the Common Stock of the Issuer were effected by Goldman Sachs acting as a market maker in the ordinary course of business.
3. F3. Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer, if applicable.
4. F4. The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

Key Figures

Shares sold: 6,327 shares Additional shares sold: 3,637 shares Major purchase lot: 10,000 shares +3 more

6 metrics

Shares sold 6,327 shares Series A Common Stock sale at $0.51 on April 20, 2026

Additional shares sold 3,637 shares Series A Common Stock sale at $0.51 on April 20, 2026

Major purchase lot 10,000 shares Series A Common Stock purchase at $0.55 on April 20, 2026

Net shares bought 42 shares Net of 10,006 bought and 9,964 sold in Series A Common Stock

Sale price $0.51/share Price for the reported Series A Common Stock sales

Purchase price range $0.51–$0.55/share Prices for reported Series A Common Stock purchases

Key Terms

market maker, beneficial ownership, pecuniary interest, Section 16(b), +1 more

5 terms

market maker financial

"These transactions in the Common Stock of the Issuer were effected by Goldman Sachs acting as a market maker in the ordinary course of business."

A market maker is a firm or individual that stands ready to buy and sell a particular stock or other security throughout the trading day, posting prices at which it will transact so buyers and sellers can trade quickly. Think of it as a shopkeeper who keeps inventory and posts prices to ensure someone can always buy or sell; this reduces delays, narrows price swings, and helps investors execute trades at fairer, more predictable prices.

beneficial ownership financial

"Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein."

Section 16(b) regulatory

"result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer"

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

Series A Common Stock financial

"increase in their beneficial ownership of QVC Group, Inc. (the "Issuer") to above 10% of the outstanding Series A Common Stock"

Series A common stock is a specific class of a company’s ordinary shares issued during an early formal funding round, carrying the ownership rights and voting power tied to that class. For investors it signals an early-stage equity claim with potential upside if the business grows, but also greater risk and typically less liquidity than shares in mature, publicly traded firms—imagine buying a seat on a startup’s team before the company has proven itself.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Goldman Sachs report in QVC Group (QVCGA) stock?

Goldman Sachs reported both sales and purchases of QVC Group Series A Common Stock on April 20, 2026. The trades were small, market-making transactions and together resulted in a net purchase of 42 shares at prices between $0.51 and $0.55 per share.

Were the QVC Group (QVCGA) trades by Goldman Sachs open-market transactions?

Yes. The filing describes the trades as open-market sales and purchases of Series A Common Stock. A footnote explains they were effected by Goldman Sachs acting as a market maker in the ordinary course of business, indicating routine liquidity-providing activity rather than strategic position changes.

How much QVC Group (QVCGA) stock did Goldman Sachs buy and sell in this Form 4?

The reporting entities bought 10,006 shares and sold 9,964 shares of QVC Group Series A Common Stock. This produced a small net purchase of 42 shares, reflecting relatively minor adjustments in their indirectly reported position during market-making activity.

Who actually holds the QVC Group (QVCGA) shares reported in the Form 4?

The QVC Group Series A Common Stock is held directly by Goldman Sachs & Co. LLC and indirectly by The Goldman Sachs Group, Inc. The filing states both reporting persons disclaim beneficial ownership beyond their pecuniary interest in these securities, emphasizing their economic, not controlling, interest.

How does Section 16(b) factor into Goldman Sachs’ QVC Group (QVCGA) trades?

A footnote states that if the reported trades were subject to Section 16(b) short-swing profit rules, any recoverable profit will be remitted to QVC Group. The reporting persons note this without conceding that ordinary-course market making normally creates Section 16(b) liability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/22/2026 - 08:07 PM Learn about SEC filing dates

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^*

GOLDMAN SACHS GROUP INC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
QVC Group, Inc. [ QVCGP ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Series A Common Stock(1)(2)	04/20/2026		P		1	A	$0.51	10,273	I	See Footnotes(3)(4)
Series A Common Stock(1)(2)	04/20/2026		P		10,000	A	$0.55	20,273	I	See Footnotes(3)(4)
Series A Common Stock(1)(2)	04/20/2026		P		1	A	$0.53	20,274	I	See Footnotes(3)(4)
Series A Common Stock(1)(2)	04/20/2026		P		4	A	$0.52	20,278	I	See Footnotes(3)(4)
Series A Common Stock(1)(2)	04/20/2026		S		3,637	D	$0.51	16,641	I	See Footnotes(3)(4)
Series A Common Stock(1)(2)	04/20/2026		S		6,327	D	$0.51	10,314	I	See Footnotes(3)(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

GOLDMAN SACHS GROUP INC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GOLDMAN SACHS & CO. LLC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. On April 17, 2026, the Reporting Persons experienced an increase in their beneficial ownership of QVC Group, Inc. (the "Issuer") to above 10% of the outstanding Series A Common Stock ("Common Stock").

2. These transactions in the Common Stock of the Issuer were effected by Goldman Sachs acting as a market maker in the ordinary course of business.

3. Without conceding market making trades in the ordinary course of business can result in liability under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that they were subject to Section 16(b) will be remitted to the Issuer, if applicable.

4. The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group.

Remarks:

	/s/ Crystal Orgill, Attorney-in-fact	04/22/2026
	** 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.
* Form 4: SEC 1474 (03-26)