John C. Malone - 29 Mar 2023 Form 4 Insider Report for Liberty Broadband Corp (LBRDA)

Reporting relationship: Director, 10%+ Owner
Issuer ticker: LBRDA
Reported as of: 29 Mar 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 31 Mar 2023, 17:52:02 UTC
Prior SEC filing: 28 Mar 2023
Next SEC filing: 27 Apr 2023
Source filing: View source filing
Reporting owner signature: /s/ Brittany A. Uthoff as Attorney-in-Fact for John C. Malone

Key filing fact

John C. Malone filed Form 4 for Liberty Broadband Corp (LBRDA) on 31 Mar 2023.

Key facts

This page summarizes John C. Malone's Form 4 filing for Liberty Broadband Corp (LBRDA).
4 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 31 Mar 2023, 17:52.

Change

Previous filing in this sequence was filed on 28 Mar 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

LBRDA transaction Derivative

Call option(obligation to sell)

Sale

Transaction value
Shares: -400,000
Change %: -50%
Price
Shares after: 400,000
Date: 29 Mar 2023
Ownership: Direct
Underlying class: Series C Common Stock
Underlying amount: 400,000
Exercise price: $114.00
Footnotes: F1, F2

LBRDA transaction Derivative

Put option (right to sell)

Purchase

Transaction value
Shares: +400,000
Change %
Price
Shares after: 400,000
Date: 29 Mar 2023
Ownership: Direct
Underlying class: Series C Common Stock
Underlying amount: 400,000
Exercise price: $71.55
Footnotes: F1, F2

LBRDA transaction Derivative

Call option(obligation to sell)

Expiration of short derivative position

Transaction value
Shares: -400,000
Change %: -100%
Price
Shares after: 0
Date: 29 Mar 2023
Ownership: Direct
Underlying class: Series C Common Stock
Underlying amount: 400,000
Exercise price: $228.01
Footnotes: F1, F3

LBRDA transaction Derivative

Put option (right to sell)

Other

Transaction value
Shares: -400,000
Change %: -100%
Price
Shares after: 0
Date: 29 Mar 2023
Ownership: Direct
Underlying class: Series C Common Stock
Underlying amount: 400,000
Exercise price: $145.93
Footnotes: F1, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

On March 29, 2023, the reporting person agreed to amend a "zero-cost collar" arrangement (the "Transaction") previously entered into on September 14, 2021, pursuant to which the exercise prices of the previous European put and call options were amended. Pursuant to the Transaction, the amended options are European call options and 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 in 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.

Footnote 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 the sequential trading days over the period beginning on August 21, 2028 and ending on August 25, 2028.

Footnote F3

Reflects the deemed cancellation of the options entered into in connection with the "zero-cost collar" arrangement on September 14, 2021 referenced in footnote 1.