Goldman Sachs (QVCGA) logs mixed QVC Group trades after 10% stake

Rhea-AI Filing Summary

QVC Group, Inc. received an amended insider report from The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC after their beneficial ownership rose above 10% of the Series A Common Stock on April 17, 2026. On April 20, 2026, Goldman Sachs, acting as a market maker in the ordinary course of business, executed open‑market trades in the Common Stock, selling 6,327 and 3,637 shares at $0.51 per share and buying a total of 10,006 shares at prices between $0.51 and $0.55 per share, for a small net purchase of 42 shares. The shares are held indirectly, directly by Goldman Sachs and indirectly by GS Group, which each disclaim beneficial ownership except to the extent of their pecuniary interest. The amendment also corrects a prior overstatement of beneficial ownership by 2,829 shares and notes that any profit potentially recoverable under Section 16(b) from these trades will be remitted to the issuer, if applicable.

Insider Trade Summary

Net Buyer: 42 shares ($5,503)

Net Buy 6 txns

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

Role null | null

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 — 7,444 shares (Indirect, See Footnotes)

Footnotes (1)

1. 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. 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"). The Common Stock of the Issuer reported herein as indirectly owned was beneficially owned directly by Goldman Sachs and indirectly by GS Group. 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. The Reporting Persons' beneficial ownership was inadvertently overstated by 2,829 shares of Series A Common Stock in the Reporting Persons' original Form 4.

Key Figures

Open-market purchases: 10,006 shares Open-market sales: 9,964 shares Net share change: 42 shares +3 more

6 metrics

Open-market purchases 10,006 shares Series A Common Stock on April 20, 2026

Open-market sales 9,964 shares Series A Common Stock on April 20, 2026

Net share change 42 shares Net buy across reported trades

Trade price range $0.51–$0.55 per share Reported purchase and sale prices

Ownership overstatement correction 2,829 shares Prior beneficial ownership overstated by this amount

Beneficial ownership threshold Above 10% of Series A Common Stock Level reached on April 17, 2026

Key Terms

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

5 terms

market maker financial

"transactions in the Common Stock of the Issuer were effected by Goldman Sachs acting as a market maker"

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

"experienced an increase in their beneficial ownership of QVC Group, Inc. to above 10%"

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"

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.

Common Stock financial

"These transactions in the Common Stock of the Issuer were effected by Goldman Sachs"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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)
04/22/2026

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	7,444	I	See Footnotes(3)(4)(5)
Series A Common Stock(1)(2)	04/20/2026		P		10,000	A	$0.55	17,444	I	See Footnotes(3)(4)(5)
Series A Common Stock(1)(2)	04/20/2026		P		1	A	$0.53	17,445	I	See Footnotes(3)(4)(5)
Series A Common Stock(1)(2)	04/20/2026		P		4	A	$0.52	17,449	I	See Footnotes(3)(4)(5)
Series A Common Stock(1)(2)	04/20/2026		S		3,637	D	$0.51	13,812	I	See Footnotes(3)(4)(5)
Series A Common Stock(1)(2)	04/20/2026		S		6,327	D	$0.51	7,485	I	See Footnotes(3)(4)(5)

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. 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.

2. 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").

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

4. 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.

5. The Reporting Persons' beneficial ownership was inadvertently overstated by 2,829 shares of Series A Common Stock in the Reporting Persons' original Form 4.

Remarks:

	/s/ Crystal Orgill, Attorney-in-fact	04/24/2026
	** 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)

FAQ

What insider activity did Goldman Sachs report for QVC Group (QVCGA)?

Goldman Sachs reported mixed open-market trades in QVC Group Series A Common Stock. On April 20, 2026, it sold 9,964 shares and bought 10,006 shares while acting as a market maker, resulting in a small net purchase of 42 shares overall.

Why is Goldman Sachs considered a ten percent owner of QVC Group (QVCGA)?

Goldman Sachs’ beneficial ownership exceeded 10% of QVC Group’s outstanding Series A Common Stock on April 17, 2026. Crossing this threshold triggered ongoing Section 16 reporting duties, including this amended Form 4/A covering subsequent market-making trades in the issuer’s common stock.

What prices were involved in the QVC Group (QVCGA) trades by Goldman Sachs?

The trades occurred around fifty cents per share. Reported open‑market transactions in QVC Group Series A Common Stock were executed at prices between $0.51 and $0.55 per share, reflecting typical market‑making activity rather than a single large directional block trade.

What correction does this amended Form 4/A make for QVC Group (QVCGA)?

The amendment corrects overstated share ownership. Goldman Sachs disclosed that its previously reported beneficial ownership had been overstated by 2,829 shares of QVC Group Series A Common Stock, and this Form 4/A updates the holdings to reflect the accurate amount.

How does Goldman Sachs describe its role in these QVC Group (QVCGA) trades?

Goldman Sachs states it acted as a market maker in QVC Group’s common stock in the ordinary course of business. The reporting persons also disclaim beneficial ownership beyond their pecuniary interest in the shares, which are held indirectly through Goldman Sachs and its parent entity.

What does QVC Group (QVCGA) potentially receive from these insider trades?

Any Section 16(b) profit, if applicable, will be remitted. Goldman Sachs notes that, without conceding liability, any profit potentially recoverable by QVC Group under Section 16(b) from these reported trades will be paid to the issuer if such liability applies.