John C. Malone - 14 Sep 2021 Form 4 Insider Report for Liberty Broadband Corp (LBRDA)

Role
Director, 10%+ Owner
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for John C. Malone
Issuer symbol
LBRDA
Transactions as of
14 Sep 2021
Net transactions value
$0
Form type
4
Filing time
16 Sep 2021, 16:24:58 UTC
Previous filing
22 Jun 2021
Next filing
08 Oct 2021
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LBRDA Call option (obligation to sell) Sale -400,000 -50% 400,000 14 Sep 2021 Series C Common Stock 400,000 $228.01 Direct F1, F2, F3
transaction LBRDA Put option (right to sell) Purchase +400,000 400,000 14 Sep 2021 Series C Common Stock 400,000 $145.93 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 14, 2021, the reporting person entered into a "zero-cost collar" arrangement (the "Transaction") pursuant to which he wrote European call options and purchased European put options over an aggregate of 400,000 shares of Series C common stock. Only one of the options can be in the money on the expiration date, at which time the in-the-money options will be exercised, and the other options will expire. If neither the put options nor the call options are the money on the expiration date, both the put and call options will expire. The Transaction will be settled in cash unless the reporting person elects physical settlement.
F2 The Transaction is divided into 5 components, each of which are with respect to 80,000 shares of Series C common stock. The components mature on sequential trading days over the period beginning on August 21, 2028 and ending on August 25, 2028.
F3 The Transaction is a "zero-cost collar" in which no premium was exchanged for either the call options or the put options.

Remarks:

Exhibit 24: Power of Attorney