Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 333

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 333
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 immediately prior to the effective time (other than excluded treasury shares) will be automatically converted into and become the right to receive one share of newly issued Charter rollover preferred stock. The Charter rollover preferred stock will have substantially identical terms to the Liberty Broadband preferred stock, including a mandatory redemption date of March 8, 2039.

The following is a summary description of the material terms of the Charter rollover preferred stock, and it is qualified in its entirety by reference to the complete text of the certificate of designations for the Charter rollover preferred stock, the form of which is attached as Annex I to this joint proxy statement/prospectus.

General

The Charter rollover preferred stock will be a single class of Charter’s authorized preferred stock.

Voting Rights

The shares of Charter rollover preferred stock will be designated as a voting security for purposes of the Charter certificate of incorporation.

Each record holder of shares of Charter rollover preferred stock will be entitled to one-third of a vote per share held by such holder, subject to adjustment (to the nearest tenth of a vote per share) in accordance with the Charter certificate of designations in the event of any stock split, stock dividend or other distribution, reclassification, recapitalization or similar event affecting the Charter common stock and the aggregate number of votes that may be cast by the holders of shares of the Charter common stock, voting together as a separate class or series, such that the voting power of the Charter rollover preferred stock immediately following the adjustment event is substantially equivalent to the voting power of the Charter rollover preferred stock immediately prior to the adjustment event.

The holders of shares of Charter rollover preferred stock will be entitled to vote together as a class generally with the holders of shares of the Charter common stock on all matters submitted to a vote of the holders of the Charter common stock (together with the holders of shares of any class or series of Senior Stock, Parity Stock or Junior Stock (as each such term is defined in the Charter certificate of designations) then entitled to vote together as a class with the holders of shares of the Charter common stock), except as required by the Charter certificate of incorporation, the Charter certificate of designations or by applicable law.

Dividends

The holders of shares of Charter rollover preferred stock will be entitled to receive, when and as declared by the Charter Board, out of legally available funds, preferential dividends that accrue and cumulate as provided in the Charter certificate of designations.

Dividends on each share of Charter rollover