Company: LBRDK
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001104659-25-029085
Chunk: 47

Company: Liberty Broadband Corp
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 47
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 of personal flight time and such costs included the expenses listed above, insurance obtained for the specific flight and an additional charge equal to 100% of the aircraft fuel and oil expenses for the specific flight. For purposes of determining an executive’s taxable income, personal use of Liberty Media’s aircraft is valued using a method based on SIFL rates, as published by the Treasury Department. The amount determined using the SIFL rates is typically lower than the amount determined using the incremental cost method. Under the American Jobs Creation Act of 2004, the amount that may be deducted for U.S. federal income tax purposes for a purely personal flight is limited to the amount included in the taxable income of the executives who took the flight. Also, the deductibility of any non-business use will be limited by Section 162(m) of the Internal Revenue Code of 1986, as amended (the Code ) to the extent that the named executive officer’s compensation that is subject to that limitation exceeds $1 million. See “—Deductibility of Executive Compensation” below.

| ​ | LIBERTY BROADBAND CORPORATION/45 | ​ |

TABLE OF CONTENTS Executive Compensation CHANGES FOR 2025—CHIEF EXECUTIVE OFFICER TRANSITION As described above, effective as of December 31, 2024, Mr. Maffei stepped down from his position as our Chief Executive Officer and effective January 1, 2025, Mr. Malone assumed the role of President and Chief Executive Officer. Additionally, as a result of the entry into the Merger Agreement, we do not expect to grant new equity awards to our named executive officers. DEDUCTIBILITY OF EXECUTIVE COMPENSATION In developing the 2024 compensation packages for the named executive officers, the deductibility of executive compensation under Section 162(m) of the Code is considered. That provision prohibits the deduction of compensation of more than $1 million paid to certain executives, subject to certain exceptions. Following the enactment of the Tax Cuts and Jobs Act of 2017, beginning with the 2018 calendar year, the executives potentially affected by the limitations of Section 162(m) of the Code have been expanded and there is no longer any exception for qualified performance-based compensation. Therefore, portions of the compensation we pay to the named executive officers may not be deductible due to the application of Section 162(m) of the Code. Our compensation committee believes that the lost deduction on compensation payable in excess of the $1 million limitation for the named