Company: LBRDK
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001104659-25-106948
Chunk: 5

Company: Liberty Broadband Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 2U
Chunk 5
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Share Repurchase Programs

There were no repurchases of Liberty Broadband Series A, Series B or Series C common stock or Liberty Broadband preferred stock during the three months ended September 30, 2025, which is currently restricted by the Merger Agreement. 

During the three months ended September 30, 2025, no shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock, Liberty Broadband Series C common stock or Liberty Broadband preferred stock were surrendered by our officers and employees to pay withholding taxes and other deductions in connection with the vesting or exercise of restricted stock.

Item 5. Other Information

As previously disclosed, on each of September 12, 2019 and September 14, 2021 (as amended on March 29, 2023), John C. Malone, Chairman of the board of directors of the Company, entered into “zero-cost collar” arrangements (the “Existing Collar Transactions”) pursuant to which Mr. Malone wrote European call options and purchased European put options referencing shares of Liberty Broadband Series C common stock. In connection with the GCI Divestiture, on July 15, 2025, Bank of America, N.A., the dealer counterparty to the Existing Collar Transactions, adjusted such transactions pursuant to their terms to reflect the economic impact of the GCI Divestiture on the Existing Collar Transactions (the “Adjusted Collar Transactions”). The duration of, and the aggregate number of Company securities covered by, such arrangements remained the same. The Adjusted Collar Transactions may constitute a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K and are not intended to satisfy the affirmative defense of Rule 10b5-1(c).