Company: LBRDK
Filing Date: 2025-06-17
Form Type: 11-K
Source: 0001611983-25-000024
Chunk: 6

Company: Liberty Broadband Corp
Filing Date: 2025-06-17
Form: 11-K
Chunk 6
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, 2024. These automatic distributions occur unless the participant actively elects a different form of distribution. Participants may request to receive Liberty Broadband common and preferred stock held in their account as an in-kind distribution.

7

<div align='center'>GCI 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023</div>

Forfeitures

If a participating employee terminates employment for any reason other than attainment of Normal Retirement Age and retirement, death or disability, that portion of his or her account attributable to Company matching contributions which has not vested will be forfeited. All forfeited amounts are used to pay Plan administrative expenses or to reduce future Company matching contributions. During 2024 and 2023, employer contributions were reduced by $337,000 and $195,000, respectively, from forfeited nonvested accounts. At December 31, 2024 and 2023, $86,000 and $117,000, respectively, had been forfeited but had not yet been used to pay Plan administrative expenses or reduce the Company’s matching contributions.

Notes Receivable from Participants

Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of the portion of their vested account. Loan transactions are treated as a transfer to/(from) the appropriate investment fund (from)/to the participant’s loan. Loan terms range from one to five years. Loans are secured by the vested balance in the participant’s account and accrue interest at a fixed rate calculated at the loan date. Loans bear a reasonable rate of interest, as determined by the Plan Administrator, based on prevailing interest rates charged by persons in the business of lending money for loans which would be made under similar circumstances. The interest rate is fixed throughout the duration of the loan. Participant loans have interest rates bearing 4.25% to 9.50%. Principal and interest are paid ratably through semi-monthly payroll deductions.

(2) Summary of Significant Accounting Policies

Basis of Accounting

The Plan financial statements are based on the accrual method of accounting.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Plan to make estimates and assumptions, such as those regarding the fair value of investments, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts